{"id":1325,"date":"2024-10-28T04:15:54","date_gmt":"2024-10-28T11:15:54","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=1325"},"modified":"2025-02-28T09:31:20","modified_gmt":"2025-02-28T17:31:20","slug":"your-personal-finance-voter-guide-2","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id1325-your-personal-finance-voter-guide-2.html","title":{"rendered":"Your Personal Finance Voter Guide"},"content":{"rendered":"<div id=\"attachment_15394\" style=\"width: 405px\" class=\"wp-caption alignright\"><a href=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2012\/10\/vote.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-15394\" class=\"wp-image-15394\" src=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2012\/10\/vote.jpg\" alt=\"personal finance voter guide\" width=\"395\" height=\"296\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2012\/10\/vote.jpg 500w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2012\/10\/vote-300x225.jpg 300w\" sizes=\"auto, (max-width: 395px) 100vw, 395px\" \/><\/a><p id=\"caption-attachment-15394\" class=\"wp-caption-text\">Before you cast your ballot, be sure to review this non-partisan personal finance voter guide.<\/p><\/div>\n<p>I love autumn.<\/p>\n<p>I mean really; what&#8217;s <strong><em>not<\/em><\/strong> to love about it?<\/p>\n<p>Milder temperatures, cooler evenings, beautiful colors and, um, a never-ending stream of shameless cut-throat political advertisements. At least during election years.<\/p>\n<p>And while an informed electorate is absolutely essential for ensuring the health of our republic, it&#8217;s just as important to make the right decisions when it comes to your personal finances.<\/p>\n<p>So, with that in mind, I developed the following handy personal finance voter guide:<\/p>\n<h3>Proposition 1:<strong> THE PERSONAL FINANCES IGNORANCE ACT<\/strong><\/h3>\n<p><strong>Ballot Summary:<\/strong> This act provides additional free time to household CEOs that choose to forgo the work required to maintain a proper budget.<br \/>\n<span style=\"color: #0000ff;\"><strong>Vote &#8220;Yes&#8221; If:<\/strong><\/span> You&#8217;ve got a mind like a steel trap when it comes to tracking expenses &#8212; or the bank account of Warren Buffett.<br \/>\n<span style=\"color: #ff0000;\"><strong>Vote &#8220;No&#8221; If:<\/strong><\/span> You&#8217;re <a href=\"https:\/\/lenpenzo.com\/blog\/id20282-how-i-live-on-less-than-40000-annually-jen-from-virginia.html\" target=\"_blank\" rel=\"noopener\">living on a modest income<\/a> and want to maintain a sense of financial discipline.<\/p>\n<h3>Proposition 2:<strong> THE BUY NOW AND WORRY ABOUT THE CONSEQUENCES LATER ACT<\/strong><\/h3>\n<p><strong>Ballot Summary:<\/strong> This act encourages consumers to buy goods and services on credit when they are unable to pay off the balance in full at the end of the month.<br \/>\n<span style=\"color: #0000ff;\"><strong>Vote &#8220;Yes&#8221; If:<\/strong><\/span> You don&#8217;t mind potentially becoming <a href=\"https:\/\/lenpenzo.com\/blog\/id1575-100-words-on-why-excessive-debt-leads-to-indentured-servitude.html\" target=\"_blank\" rel=\"noopener\">an indentured servant<\/a> to your credit card company.<br \/>\n<span style=\"color: #ff0000;\"><strong>Vote &#8220;No&#8221; If:<\/strong><\/span> You have no desire to sacrifice your future financial flexibility in exchange for impulsive short term gratification.<\/p>\n<h3>Proposition 3:<strong> THE TRUST YOUR CREDIT REPORT TO BE ACCURATE ACT<\/strong><\/h3>\n<p><strong>Ballot Summary:<\/strong> This act reinforces the public&#8217;s indifference toward checking personal credit report information at least once per year.<br \/>\n<span style=\"color: #0000ff;\"><strong>Vote &#8220;Yes&#8221; If:<\/strong><\/span> You don&#8217;t mind paying for unwarranted higher interest rates &#8212; or letting identity thieves leech off your good credit.<br \/>\n<span style=\"color: #ff0000;\"><strong>Vote &#8220;No&#8221; If:<\/strong><\/span> If you truly value <a href=\"https:\/\/lenpenzo.com\/blog\/id24343-how-do-they-calculate-credit-scores-and-whats-in-a-credit-report-2.html\" target=\"_blank\" rel=\"noopener\">your credit rating<\/a>.<\/p>\n<h3>Proposition 4:<strong> THE PAY YOURSELF FIRST ACT<\/strong><\/h3>\n<p><strong>Ballot Summary:<\/strong> This act makes it mandatory for people to save a portion of their income in a savings or retirement account each month before they pay any of their bills.<br \/>\n<span style=\"color: #0000ff;\"><strong>Vote &#8220;Yes&#8221; If:<\/strong><\/span> You are serious about <a href=\"https:\/\/lenpenzo.com\/blog\/id16252-silver-and-gold-the-superheroes-of-wealth-preservation.html\" target=\"_blank\" rel=\"noopener\">building your savings<\/a> as quickly as possible.<br \/>\n<span style=\"color: #ff0000;\"><strong>Vote &#8220;No&#8221; If:<\/strong><\/span> You don&#8217;t mind the thought of working into your 70s.<\/p>\n<h3>Proposition 5:<strong> THE HOUSEHOLD BUDGET ARMAGEDDON ACT<\/strong><\/h3>\n<p><strong>Ballot Summary:<\/strong> This act would give full and unconditional pardons to <a href=\"https:\/\/lenpenzo.com\/blog\/id1083-beware-the-four-horsemen-of-personal-finance-3.html\" target=\"_blank\" rel=\"noopener\">the Four Horsemen of Personal Finance<\/a>.<br \/>\n<span style=\"color: #0000ff;\"><strong>Vote &#8220;Yes&#8221; If:<\/strong><\/span> You enjoy the struggle to stick to your budget and\/or make ends meet.<br \/>\n<span style=\"color: #ff0000;\"><strong>Vote &#8220;No&#8221; If:<\/strong><\/span> You want to free up a significant amount of income for more important things, like your nest egg.<\/p>\n<h3>Proposition 6:<strong> THE WINDFALL SPENDING ACT<\/strong><\/h3>\n<p><strong>Ballot Summary:<\/strong> This act would make it a crime to devote any portion of a cash windfall to retirement and other savings accounts, or eliminating debt.<br \/>\n<span style=\"color: #0000ff;\"><strong>Vote &#8220;Yes&#8221; If:<\/strong><\/span> You are not only debt free, but you&#8217;ve already got more than enough saved up for your retirement.<br \/>\n<span style=\"color: #ff0000;\"><strong>Vote &#8220;No&#8221; If:<\/strong><\/span> <a href=\"https:\/\/lenpenzo.com\/blog\/id14645-no-im-not-rich-but-i-am-financially-free-heres-how-i-got-there-2.html\" target=\"_blank\" rel=\"noopener\">Financial freedom<\/a> is your number one priority.<\/p>\n<h3>Proposition 7:<strong> THE STORE-BRAND LABELS ARE FOR CHEAPSKATES ACT<\/strong><\/h3>\n<p><strong>Ballot Summary:<\/strong> This act will provide unspecified funds for a commercial campaign produced by a washed-up television actor nobody has ever heard of proclaiming store-brand labels to be inferior to their name-brand counterparts.<br \/>\n<span style=\"color: #0000ff;\"><strong>Vote &#8220;Yes&#8221; If:<\/strong><\/span> You&#8217;re afraid you&#8217;ll lose your &#8220;street cred&#8221; if you get caught with store-brand label groceries in your shopping basket.<br \/>\n<span style=\"color: #ff0000;\"><strong>Vote &#8220;No&#8221; If:<\/strong><\/span> You&#8217;re a savvy shopper who realizes that <a href=\"https:\/\/lenpenzo.com\/blog\/id771-my-store-brand-vs-name-brand-blind-taste-test-experiment.html\" target=\"_blank\" rel=\"noopener\">store-brand labels<\/a> often offer equivalent taste and quality for as much as 40% less.<\/p>\n<p>So there you have it. And although you won&#8217;t find these propositions on your local election-day ballot, you <em>will<\/em> end up voting on them &#8212; with your wallet.<\/p>\n<p style=\"text-align: right;\"><span style=\"font-size: smaller;\">Photo Credit: Ho John Lee<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I love autumn. I mean really; what&#8217;s not to love about it? Milder temperatures, cooler evenings, beautiful colors and, um, a never-ending stream of shameless cut-throat political advertisements. At least during election years. And while an informed electorate is absolutely essential for ensuring the health of our republic, it&#8217;s just as important to make the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":39618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","pmpro_default_level":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[459],"tags":[],"class_list":{"0":"post-1325","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-family","8":"pmpro-has-access","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Your Personal Finance Voter Guide<\/title>\n<meta name=\"description\" content=\"Before you cast your ballot, be sure to review this non-partisan personal finance voter guide. 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