Great Budget Tool

Not long ago we finished the Ramsey course at Trinity and so far, we've been doing a fair job at sticking with it.  But Dave recommends re-doing/reviewing your household budget every month.  I have to admit that because of the way I'm wired, I really hate that idea ... but he's absolutely right.  Here is a handy tool to make that dreaded task MUCH easier:

Book List [what I've been reading/listening to lately ...]

you are what your mind eats ...

Leah in the Morning

“In the morning it is always Leah, never Rachel.”

-Tim Keller, Counterfeit gods
[using the Biblical allusion of Jacob, Leah, and Rachel to illustrate the utter disappointment that always follows the frenzied pursuit of fulfillment in sex, money, or power.]

The Visual Family Budget

Dave Ramsey's recommended category percentage of overall spending:


Housing 25-35%
Utilities 5-10%
Transportation 10-15%
Healthcare 5-10%
Food 5-15%
Investments/Savings 5-10%
Debt Payments 5-10%
Charitable Giving 5-15%
Entertainment/Recreation 5-9%
Misc Personal 2-7%

[graphic: visualeconomics.com]

Susman and Myers on Personality and Culture

In the 19th century, character was key, but other key words related to the concept of character: citizenship, duty, democracy, work, building, golden deeds, outdoor life, conquest, honor, reputation, morals, manners, integrity, … and above all: manhood, virility.

Early 20th century, accompanying material change, we move from a production-oriented society to a consumption-oriented society, and character disappears and what becomes key is personality: personality used to mean the qualities that were universally shared by all persons – the things we had in common. Personality was then changed to describe the attributes or qualities that make you unique. So the advice is on how to build this sort of personality or image. Here are the new key words from advice manuals: fascinating, stunning, attractive, magnetic, glowing, masterful, creative, dominant, forceful. [these words were almost never used to described character – character is either good or bad, not glowing. The quality of being ‘Somebody’ is emphasized. We live constantly in a crowd [basically strangers who will never have time to know your character], how can we distinguish ourselves from others in the crowd? ‘Crowd’ is the most commonly used word. The new personality literature stressed items that could be best developed in leisure time and that represented in themselves an emphasis on consumption. The social role demanded of all in the new culture of personality was that of a performer. Every American was to become a performing self.

"Personality and the Making of Twentieth-Century Culture."

- Warren Susman

The Federal Budget as a Household

thanks to Andy D for sending this my way - a very helpful perspective!

Jefferson's Retrospective: Adding Just One Last Amendment

It is easy for we Christians to dismiss Tea Party types as crass, one-track activists who just want to keep their pockets better padded via lower taxes.  But this is because we often forget that the question of taxation is a moral one.  It was Jesus Who taught us that where our $$ is, there will our hearts be also.  $$ is at the core of what ails us, and repenting of our fiscal sins will go a long way in curbing the others as well.  Along these lines, here's a truly remarkable quote from Jefferson I came across:

“I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government; I mean an additional article taking from the Federal Government the power of borrowing.”

– Thomas Jefferson, in his letter to John Taylor, November 26, 1798

Artwork by Mia Nogueira, www.tjjournal.com

A Skinflint's Manifesto [Preface] ...

I do not need to spend more than $50 on:

a wristwatch;
a pair of shoes;
a cell phone;
a pair of non-prescription sunglasses.

... societal status symbols.  Refuse to spend your way up the pecking order.

... what else?

The Nanny State and Allowance

National Eclipse

The main problem we face today is not economic but political. Sound economists are in substantial agreement concerning what ought to be done. Practically all government attempts to redistribute wealth and income tend to smother productive incentives and lead toward general impoverishment. It is the proper sphere of government to create and enforce a framework of law that prohibits force and fraud. But it must refrain from specific economic interventions. Government's main economic function is to encourage and preserve a free market.
When Alexander the Great visited the philosopher Diogenes and asked whether he could do anything for him, Diogenes is said to have replied: "Yes, stand a little less between me and the sun." It is what every citizen is entitled to ask of his government.

- Henry Hazlitt, Economics in One Lesson
[photo: Christianlibertarians.com]

12-Step Economic Recovery Program

A 12-Step Economic Recovery Program for Impoverished African-Americans
by Gary North [abridged]

These begin with a presupposition: class position isn't primarily about one's level of income, but rather, his worldview: specifically his theory of cause and effect.

1. Join a church. I don't mean some shrinking, liberal, mainline denomination, especially one whose name begins with the word "United." I mean a Bible-preaching, hell-fire-and-damnation church, which warns people weekly that sins produce negative results. Avoid the never-ending liberal blame-shifting. The woman whom You gave me, she handed me the fruit!

2. Donate 10% of your income to your church. This is called tithing. It says to yourself and your church's deacons, "Every good and perfect gift comes down from my unchanging Father and I rely on Him for my money. This 10% off the top is a token of my faith that there's more where that came from."

3. Finish school. Graduating from high school or college doesn't make you smart. It makes you reliable. It sends a message to future employers: "I finish what I start, even something as inherently boring as school." No man who looks back, once he’s put his hand to the plough, is fit for the kingdom of God.

4. Get married and stay married to the same person. This takes advantage of the productivity offered by the division of labor. It's also a huge motivation for #5…

Government Healthcare Questionaire

Though an ardent "conservative", I am no revolutionary.  I'm for societal overhaul, not societal overthrow.  I do believe that government healthcare [along w/ most other 'welfare programs'] should be abolished, but not overnight.  Our road down has been a long one and our road back should be gradual as well.  But if we are to recover, it will be by simple, modest steps - taking responsibility for ourselves in basic ways, little by little.  Here is a humble proposal, of one such step.  Have everyone applying for government healthcare assistance answer these 20 questions every month. 

1.How many hours did you work last month?

2.Do you have a monthly budget?

3.Last month how much did you spend on:

... the cable bill?

4. Movie theater tickets?

5. Cell phone minutes, text messages included?

6. Tobacco products?

7. Alcohol?

8. Tatoos?

9-11. New clothing, shoes, and/or jewelry?

CNN Report on College Debt - MUST SEE

Got Savings?

Most normal young families today [like mine] work and hope to one day be 'debt free'.  While this is certainly a praiseworthy goal, to put it in perspective, what we call 'debt free' our grandparents' generation called 'broke'.

A Quote for Tax Day 2010 ...

When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it.

--Frederic Bastiat [1801-1851]

The Problem with Socialism ...

"The problem with Socialism is that eventually you run out of other people's money." 

- Margaret Thatcher

Sheepskins and Fleeces

What's a Degree Really Worth?
THE WALL STREET JOURNAL
by Mary Pilon [abridged]
Monday, February 1, 2010

A college education may not be worth as much as you think.

For years, higher education was touted as a safe path to professional and financial success. Student loans helped parents and students finance degrees, with the implication that in the long run, a graduate would be able to build solid careers that would earn them far more than their high-school educated counterparts.
The nonprofit College Board touted the difference in lifetime earnings at $800,000, a widely circulated figure. Other estimates topped $1 million.But now, as tuition continues to skyrocket and many seeking to change careers are heading back to school, some researchers are questioning the high projections.

A Christmas Meditation - American Style

In 2002 the federal budget was $2.1 trillion and the federal debt had reached $6 trillion.  To help you get a handle on the meaning of this, suppose that the day Christ was born, you had $2.1 trillion to spend ... if you spent $3 million a day, each day, you would barely have completed your task by the year 2000.


- R.C. Sproul Jr.,  Biblical Economics

Family Finance in One Easy Lesson

Yikes!

AAA estimates the ‘average cost of owning a car in the U.S.’ is $8410 annually.