tag:blogger.com,1999:blog-67247154521759348342024-02-19T11:11:31.897-05:00Recession Proof LivingMusings on money, debt, wealth building, self sufficiency,sustainable farming and faith, along with assorted ramblings from the author of "IOU NO MORE, a quick start guide for becoming debt free and staying debt free forever".Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.comBlogger314125tag:blogger.com,1999:blog-6724715452175934834.post-21979205486928226462011-11-28T10:58:00.000-05:002011-11-28T10:58:34.194-05:00New Blog AddressUntil we get the blog tab redirected, here's a link to the new blog. <a href="http://www.samburtononline.com/">http://www.samburtononline.com/</a>Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-50231123586695741962011-05-26T05:54:00.000-04:002011-05-26T05:54:42.111-04:00Guess We Are Still RelevantSometimes, I get discouraged and think that the whole IOU NO MORE thing is out of date and out of touch. Perhaps our ship has sailed. Maybe our message is just not needed in 2011. <br />
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When these feelings come on me, I seriously consider throwing in the towel, closing down the website and just focusing on our <a href="http://www.eastofedenfarms.com/"><b>sustainable farming project</b></a>.<br />
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Two thinks happened in the last week that help me keep going. The first was a young man who told me how important the book has been in helping his family develop a plan to get financially on the right path. The second was something I heard on the radio.<br />
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I was in the car yesterday, driving home from work early, because I was violently sick to my stomach (I'll spare you the details). Anyway, the radio host was referring to a recent study that said 50% of Americans said that they could not come up with $2k in a month to cover an emergency. <br />
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From that snippet I realize that millions of people are still living hand to mouth and that they don't even know what to do about it. Unfortunately, many don't really want to fix themselves, they want Govt. to bail them out. Others have given up, but there are still millions who are looking for solutions. Solutions we got.<br />
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I've got to stop trying to goad people who don't want to change and start looking for those who do. There is a huge difference. One will drive me to drink. The other will motivate me to win.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-26211356436649687432011-05-19T06:46:00.000-04:002011-05-19T06:46:15.305-04:00Credit Card Companies Are At It AgainNot surprising, really, but the <a href="http://finance.yahoo.com/news/Consumers-must-watch-for-apf-1474095032.html"><b>linked article</b></a> says that credit card companies are creatively looking for new ways to squeeze more interest and penalties out of us. By all means, read the article <a href="http://finance.yahoo.com/news/Consumers-must-watch-for-apf-1474095032.html"><b>HERE</b></a>.<br />
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I have found that the best way to beat them at their game is to NEVER carry a credit card balance. Use a debit card, pay cash, write a check. These methods avoid penalties and fees EVERY TIME. Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-19056874700731955712011-05-18T22:42:00.000-04:002011-05-18T22:42:40.370-04:00Why I Don't Invest In CommoditiesThe temptation is great. Some days it's almost irresistible. But I manage. I'm talking, of course, about investing in commodities. Right now, things like oil, gold, silver, corn, cotton, etc. are rising like kites in a March breeze.<br />
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Commodities are in. They are hot. If you listen closely you can almost hear them sizzle. People who bought gold last year are laughing right now. Same for corn. Commodities are interesting. From my chair, they are always on a bubble. It gets bigger and bigger then pops and starts over. I don't have the stomach for that kind of roller coaster. Besides, I'm not smart enough to know when to get in and out. <br />
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For metals and crude, the volatility alone is enough to keep me out. Besides, I've got an investment that's way better than all of them put together.<br />
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My reasons for staying away from corn, soy beans, wheat and etc. are tied very closely to my core values. The companies behind these soft commodities push the morality envelope too far for my liking. Companies like Cargill and Monsanto, and their ilk, are involved in more than producing crops. They are involved in genetic engineering of crops, which could be good or bad, but too risky for my taste. The big gripe I have is their efforts to patent life and use of heavy handed methods to strong arm and subjugate farmers. I can't put money into their pockets just to put money into mine.<br />
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There is a way for you to invest in commodities that will NEVER lose and could gain you a small fortune. You won't find it on the Dow, Nasdaq or S&P. The method I've discovered is part insurance and part investment. I spell it out in my e-booklet, <a href="http://www.iounomore.com/store.php"><b>"The Joseph Principle"</b></a>. You can order it from our <a href="http://www.iounomore.com/store.php"><b>website</b></a>.<br />
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Geez, that sounded like a commercial.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-76057001932129548562011-05-10T07:20:00.000-04:002011-05-10T07:20:45.196-04:00Hand Wringing or Heart SearchingWe all feel the change. It's not just in the air, we feel it in our wallets. Life is getting more expensive by the hour. Gasoline prices, food prices, air travel, education, everything.<br />
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Some of us have been shouting from the rooftops for at least a year, pleading with people to prepare. Some did, millions did not. So now that things are worsening rapidly, is it too late? What can we do to stop the spiral?<br />
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First, stop the hand wringing. I won't suggest that we stop complaining, that's an American pastime. I love to do that as much as the next person. Complaining, though, won't change anything. Neither will hand wringing and fretting. It's time to take ACTION.<br />
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First, make a written budget.....TODAY! If you need a form to help you get started, email us at <a href="mailto:info@iounomore.com">info@iounomore.com</a> and we'll get you one.<br />
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If you have debt beyond your mortgage, pay it off as quickly as possible. I don't mean to sound like a salesman, but go to the store page at iounomore.com and order the ekit and get started right away. The kit will cost less than a combo meal and will give you the tools to start a new financial life NOW.<br />
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Begin an emergency fund with a long term goal of storing up a full year of staples and 6 months to a year of cash flow. Yes, you can do it, it just doesn't feel like it right now. We call it the Joseph Principle.<br />
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Grow some of your own food. It's easier than you think and will save you a ton of cash over the coming years. For tips, ideas and moral support, go to <a href="http://eastofedenfarms.wordpress.com/">Our Edible Suburb</a>.<br />
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This is not the time for panic. It's time for action. Our economy is in decay, we get that. It doesn't mean your economy has to collapse. Take charge. Be smart. Win. Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-69477467637846222142011-05-01T07:23:00.000-04:002011-05-01T07:23:39.961-04:00Where Has Civility Gone?This is going to be one of my 'wondering out loud' posts. It has little to do with budgets, or debt reduction, or living sustainably. But I wanted to post my thoughts somewhere, so my apologies for going off topic.<br />
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I read quite a few news and opinion websites. I try and read a cross section of left and right leaning pages. I never want to be guilty of falling for propaganda. BTW, if you are someone who only reads FoxNews or MSNBC or Drudge or Huffpo, you really should get out more. Start by reading all the above. It's amazing how the same story can be interpreted so differently depending on your political world view or core values.<br />
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The disparity in viewpoints of columnists and reporters does not disturb me. We all view the world through the prism of how we, or our editors, see things. Freedom of the Press allows for debate. It challenges us to think for ourselves. The internet is a wonderful tool because it overcomes the potential filter of censorship. It's much harder these days to have only one side of a story told.<br />
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I am disturbed, however, by the vitriol and disgusting behavior of many of the individuals who comment on open boards and feedback sections of articles. Web 2.0 has allowed for open feedback and discourse. Nearly every article and blog offers a place for readers to comment. Be careful what you wish for.<br />
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The anonymity of the internet has opened the door for a lot of ugliness and anger to be expressed. I've read death threats, profanity laced ad hominem tirades and some things that are so nasty they are best skipped over. There is a great deal of anger out there. Name calling is not an argument. Wishing disease and death those who disagree with you does not further your cause. It only polarizes. <br />
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There are still some excellent examples of grace, mercy and civility in the world, but on the whole I fear we are drifting and the current is quickening. The resolution of our decline will not come from political parties or an economic turnaround, nor will it come from tighter internet regulations or fairness doctrines. We need a heart transplant. Three thousand years ago, King David of Israel, wrote: Create in me a clean heart, Oh God. And renew a right spirit within me." (Psalm 51). We could use a whole bunch of that heart cleaning about now. We are angry and bitter. A social storm brews just beneath the surface. I know of someone who doesn't just predict storms, like the national weather service, He calms them. We need His help now more than ever. Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-76359706054070016142011-04-21T06:56:00.000-04:002011-04-21T06:56:41.439-04:00Generosity is superior to Taxation, Self Suffiency Trumps EntitlementDespite the title, I'm not planning to wade into the deep and muddy waters of our current political dilemmas, though the subject matter would allow it. Instead, I'm going to try and keep my comments on a personal responsibility level. We'll see in a moment whether or not I manage to succeed.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhFU04FGfUrjtC3GdCeWqTzXRo_t00SspesFMvRcJFmwzEsoQgfK0UdR0iBFBcUX7uBGxy1LOrOe9QaU4h5uicYRDp_gq2gpH46aOSg6LF6sHYHm2M9V0up5bmDZI4b_Q2_yPeidQNClpzV/s1600/barley.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="134" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhFU04FGfUrjtC3GdCeWqTzXRo_t00SspesFMvRcJFmwzEsoQgfK0UdR0iBFBcUX7uBGxy1LOrOe9QaU4h5uicYRDp_gq2gpH46aOSg6LF6sHYHm2M9V0up5bmDZI4b_Q2_yPeidQNClpzV/s200/barley.jpg" width="200" /></a>I was reading this morning in the book of Leviticus in the Old Testament. Leviticus is a difficult read for most people. It's not exactly what most of us think of as a page turner; chapter after chapter of rules and regulations for the ancient Israelis. But I've found some fascinating insights into the principles of sound financial management in it's pages. One of them jumped out at me today.<br />
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I was reading in chapter 23. Among the rules about the Jewish feasts, there is a harvest reminder. God tells the people not to harvest to the very edges of their fields and not to go back and catch what they miss. They are to leave the corners, edges and 'gleanings' for the poor and the immigrant. Wow. Planned, deliberate generosity.<br />
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Do you get it? The Israelis weren't to wait for the Government to tax them or for State assistance program to take care of the poor. There is no set amount or percentage. Each person decides what 'corners' and 'edges' means. I'm sure some were more generous than others. But the point is, generosity was assumed and was proactively built into the Jewish society. <br />
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Are we proactively generous? I'm not talking about our tithes? That belongs to God. Is giving built into your budget? Entrepreneurs, is generosity a plank in your business plan? <br />
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This coin, BTW, has two sides. Leviticus 23 is far from an entitlement program. Notice that God instructs the people to leave the corners and gleanings rather than take part of the harvest to a place where the poor can come and pick it up. There is a built in assumption that the 'poor' and the 'immigrant' are expected to do their own harvest and threshing. This is no hand out. The recipient is expected to work. Handouts, or 'alms' were for the blind, the crippled and others who were not capable of working. Later in Paul's letter to Timothy in the New Testament, the Church was to look after truly destitute widows who had no family to take care of them.<br />
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The Bible's teaching is very clear. The principles are not hidden. 1. Greed is bad. We should build generosity into our lifestyles. 2. The responsibility of providing for the poor is; a. for the able bodied to do their own work in providing for themselves even when relying on the generosity of others, b. the families of the truly destitute or sick or crippled or physically challenged, c. the Church to look after those of their number who have no family. Take note, Government programs are nowhere on the list.<br />
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Well, I came close to staying out of politics. I tried, I really did. Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-59020080551251788852011-04-20T06:49:00.000-04:002011-04-20T06:49:50.591-04:00IOU NO MORE 2.0 Ready For The PublisherSome last minute changes include a minor name change. The new book will be called IOU NO MORE 2.0. It is now as ready as I can make it. We don't have a publish date yet, but watch for it, because it will be out soon.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-40321008926216074062011-02-14T05:06:00.000-05:002011-02-14T05:06:47.985-05:00The Latest Price Increase StoryI know, I know. Sam can't get off his inflation soap box. I just want us all to plan ahead. We are soon going to be spending a larger percentage of our budgets on FOOD. If we want to eat in a more healthy manner, it's going to be a considerably larger percentage. <br />
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The latest cause of our grocery pain is the recent deep freeze that hit the Southwest U.S. and Mexico. You can read all about the effect on produce prices <a href="http://www.kgw.com/news/local/Produce-prices-skyrocket-overnight-115985429.html"><b>HERE</b></a>.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-34037013476957619572011-02-11T05:24:00.000-05:002011-02-11T05:24:35.600-05:00Coming to a Supermarket Near You - Higher PricesGasoline has topped $3 a gallon here in North Georgia (10 days later than I predicted). Gold and silver have sky rocketed. Corn has doubled in price over the last few months. Oil is over $100 a barrel. <br />
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Those last two sentences are the keys to rising food costs in the store. It takes rivers of oil to get produce and processed foods from farm to plate and corn is in virtually all of our processed foods (in one form or another). It's the core feed ingredient for commercial meat animals from beef to chickens to tilapia. The rising costs of ingredients, processing and transportation make inflation inevitable. Get ready. Read a recent article about foodflation from Omaha.com right <a href="http://www.omaha.com/article/20110210/NEWS01/702109884/0#get-ready-for-higher-food-prices"><b>HERE</b></a>.<br />
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I realize my last several posts have been variations on this theme, but that's because food is so critical to our survival. Rather than fume, or panic, I want you to prepare and overcome.<br />
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Some steps to minimize the pain are: 1. Stock up now, while prices are lower. Some things are already going up, so there's not a lot of time to waste. 2. Eat more whole foods. It's healthier and, if local and in season, is still a good value. 3. Grow some of your own food. 4. Budget for the coming changes.<br />
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As I keep saying, the cost of living is headed UP this year. But we can still win the war by creating a plan and by working that plan.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-55536394351925240492011-01-29T05:47:00.000-05:002011-01-29T05:47:35.292-05:00Still Want a Credit Card?If ever I saw a case for getting rid of Credit Cards and Credit Card Debt, it is <a href="http://money.cnn.com/2011/01/28/pf/credit_cards_interest_rates/index.htm?iid=HLMNot%20perfect%20credit%20=%2059%%20APR"><b>THIS ARTICLE</b></a> from CNN Money. It is plenty scary. All I can say is, "Back away from the application. Turn around and RUN!"Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-30612316164197541912011-01-25T05:26:00.000-05:002011-01-25T05:26:46.048-05:00Latest Sign of the Apocalypse...Ok, just a follow up to yesterday's inflation rant. Even the Golden Arches are yielding to the higher cost of commodities. Those McNuggets may soon be costing you more. Read it <a href="http://www.msnbc.msn.com/id/41231991/ns/business-consumer_news/"><b>HERE</b></a>.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-49670208144160310552011-01-24T06:30:00.000-05:002011-01-24T06:30:52.654-05:00Just Another Inflation WarningHave you noticed it? Prices are going up. It's obvious at the gas pump. The place I buy most of my gasoline has fought like crazy to avoid topping $3 a gallon. I'm thinking they will lose the fight sometime this week. <br />
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Groceries are certainly on the rise. I've noticed the prices on some items have risen considerably. There has never been a better time to use coupons and watch for specials than right now.<br />
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On a related note, the cost of animal feed and things like day old chicks has also started to move in the wrong direction. Packets of seeds are increasing in price as well. That means that the cost of food production for small producers may well impact the prices of fresh produce in farmers' markets. <br />
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It is not time to panic. It's time to prepare. Budget well. Spend wisely. Grow some of your own food. Buy in bulk and preserve some. Shop judiciously at consignment shops. Frequent yard sales. Plan your trips out to manage your fuel consumption. We can win! We can prosper!Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-23171458581602081522011-01-19T06:32:00.000-05:002011-01-19T06:32:41.593-05:00Franchising OpportunitiesMost people who have some entrepreneurial inklings, at least consider franchising as a path to consider. I know I have. In my case, I've just never found the right fit. I haven't had the cash flow, either. <br />
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This morning, I found a fun little article on forbes.com regarding the top 20 franchise opportunities for 'beginners'. I thought some of you might like it, so click <strong><a href="http://www.forbes.com/2011/01/18/best-franchises-for-the-buck-entrepreneurs-finance-franchise_slide_21.html">HERE</a></strong> to read it for yourself.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-69175862487763621752011-01-07T05:55:00.000-05:002011-01-07T05:55:54.808-05:00Discouraging HeadlinesHave a look at these headlines from this morning's Drudge Report:<br />
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Census: Number of poor may be millions higher; 1 in 6... <br />
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Retailers report surprisingly weak December...<br />
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Jobless claims rise more than expected...<br />
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GALLUP: Broader underemployment worsened to 19% in December -- up sharply from 17.2% at end of Nov...<br />
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Wow! These are not encouraging words, to say the least. We CAN take steps to insulate ourselves against tough times. We can't always escape them, but if we do the right things we can 'self insure' so that any economic impact we feel from downturns, recessions and depressions only affects us minimaly. I'm serious. IOU NO MORE 2.011 is coming. Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-63846247651453314012011-01-03T20:02:00.000-05:002011-01-03T20:02:19.337-05:00IOU NO MORE 2.011 Closer by the MinuteAs you can see, I'm playing a bit with the title of the updated version of the book. I started with "The All New IOU NO MORE", but yuck. Then it became, "IOU NO MORE 2.0". Finally, with a tip of the hat to the publication year, it is now, "IOU NO MORE 2.011". We'll see if it sticks.<br />
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The new material is all written. The next phase will be to edit it and to update the forms. Then, it's off to the publisher.<br />
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Won't be long now.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-56999022326799895792010-12-29T21:42:00.000-05:002010-12-29T21:42:28.032-05:00Just RamblingWow, I can't believe how bad I am at paying attention to this space. That's about to change....sort of.<br />
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I'm in the process of developing a monthly newsletter. I hope to have the first issue out in January. I'm not sure whether that will link to this spot or whether it will replace this blog. Decisions, decisions.<br />
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IOU NO MORE 2.0 is nearing completion. Well, it's nearly ready for editing anyway. I had hoped to have it finished by now, but work, farming and life in general keep getting in the way. The core of the book is the same, but there are some nice additions and a few other changes that reflect the current economic conditions and some changes in my thinking. The new version will be larger and some of the budgeting and saving sections have more detail and will be even more practical than before.<br />
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Now is a great time to take advantage of some great bargains in our store, before the end of the year. Of particular note is the extremely good buy of going to Amazon and downloading the Kindle version of the book. It's a rock bottom price and will only be available for a few more weeks.<br />
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It's looking like I will begin offering the Budget Boot Camp Home Study Kit around the end of January or beginning of February. That should be a lot of fun. It will include all the Starter Kit information and 6 audio lessons just like in a live Boot Camp. I'm really excited about it. <br />
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Another piece of random news is that traffic to our website has boomed recently as have requests for information. We've heard from, teachers, govt. workers, universities, single parents, pastors and many others. It's quite a good feeling being able to help others take their first steps towards financial fitness.<br />
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Have a Happy New Year everyone. We'll talk to you soon.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-7160905856775000422010-11-18T06:03:00.000-05:002010-11-18T06:03:23.484-05:00The Coming FoodflationI've been warning my friends for months that inflation is coming. I've certainly posted it on facebook more than once. Now it's starting to hit the headlines. For example, Read <a href="http://www.ft.com/cms/s/0/78b06d1a-f226-11df-9118-00144feab49a.html#axzz15d0kkUlU"><i><u><b>this article from the Financial Times</b></u></i></a> that I found on <a href="http://www.drudgereport.com/"><u><i><b>Drudge</b></i></u></a> this morning.<br />
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I have interrupted the writing of IOU NO MORE 2.0 to write a short e-book, "Simplify Your Way To Prosperity" about how to thrive during the coming inflation. I believe preparing NOW is urgent and I want to help.<br />
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<a href="http://www.glennbeck.com/"><u><i><b>Glenn Beck</b></i></u></a> is making similar suggestions on his radio show. He has a very large platform, I have a handful of readers. He will get the word out faster that I will, I imagine.<br />
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There is one fundamental difference between Beck's views and my own. He would suggest that gold is an excellent hedge against the coming tsunami. I would say that gold is secondary to FOOD. <br />
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Those who know me well, know I keep saying, "You have gold, I have food. If things get really bad, I will have your gold in exchange for some of my food." I don't say that to be ugly, I really believe it. <br />
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Consider this passage from the Bible in Revelation 6:6 "Then I heard what sounded like a voice among the four living creatures, saying, "A quart of wheat for a day's wages, and three quarts of barley for a day's wages, and do not damage the oil and the wine!" WOW!<br />
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I'm not against gold, in fact I strongly recommend saving up a year's worth of living expenses in cash. Keep it in a jar, or in an easy to access money market account. But I even more strongly recommend putting aside 6 months to a year of basic food stuffs and necessities. <br />
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B and I have a room loaded with beans, rice, coffee, wheat, sugar, home canned goods, powdered milk, mustard, toilet paper, soap, etc. We didn't buy the 'survival food storage' stuff off the internet, because I'm not really interested in eating MREs for a year. Call me crazy. But if that's the way you and your family want to do it, I'll not argue. Just PREPARE.<br />
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After you have your CASH and your FOOD, if you want to invest in some gold <u>coins</u>, go right ahead. But do is as insurance, not as an investment. In a real crisis, investments won't matter a hoot. What you have in hand WILL matter.<br />
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Watch this space or the <a href="http://www.iounomore.com/"><u><i><b>website</b></i></u></a> for "Simplifying Your Way to Prosperity". But don't wait, start preparing TODAY. I'm not suggesting the end of the world. I am suggesting trouble ahead. The bridge is out and I don't want anyone to fall.<br />
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Feel free to <a href="mailto:info@iounomore.com"><u><i><b>send your questions</b></i></u></a>.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-17748627093631013412010-11-16T14:02:00.000-05:002010-11-16T14:02:57.955-05:00Preparing for InflationInflation is coming. I feel it in the air. Commodity prices are insanely high. Oil prices are rising. That all means the cost of producing and transporting basic necessities like food and clothing are going to go up dramatically. Sooner or later, manufacturers and producers have to pass that cost on to the consumer. When you add in the effects of a weak and watered down dollar, the coming inflation could be pretty dramatic.<br />
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The best thing we can do is prepare. We don't panic. We don't hide. We get ready. If you do not already make storing up 6 months to 1 year of basic food a part of your emergency fund, then please begin to do so now. You will be glad you did. I will discuss the subject in more detail in IOU NO MORE 2.0, which should be out early in 2011. But for now, if you have any questions about starting a Food Bank, then send us an <a href="mailto:info@iounomore.com">email</a> and we'll be glad to answer them.<br />
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I recommend buying some extra clothes as well. Watch for sales, clearance racks, etc. and buy some extra jeans, jackets, sweaters, sweatshirts, shoes and the like. This is especially true for articles made from cotton. Cotton prices have shot through the roof and are headed to the moon.<br />
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One more thing, while I'm thinking about it. Plan now to grow at least some of your own food next year. <br />
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B and I have already begun our 'storehouse' and are mostly done. We feel very good about our readiness.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-48601134160367689372010-10-29T05:54:00.000-04:002010-10-29T05:54:12.229-04:00Back to BasicsB and I have made the decision to go back to the beginning of our financial journey and start again so we can save to pay cash for farm land. We have built our budget around the survival plan and are even going to use envelopes again.<br />
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This is something we want very badly and are taking the necessary steps to help us stay focused. It's always nice to have a goal.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-21266579497796838242010-10-19T09:39:00.000-04:002010-10-19T09:39:17.527-04:00Bankruptcy and The Crystal Cathedral - Pathetic or Prophetic?<!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
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</style> <![endif]--> <div class="MsoNormal">The <a href="http://www.foxnews.com/us/2010/10/18/megachurch-birthplace-hour-power-files-bankruptcy-california/?test=latestnews"><u><b>Crystal Cathedral has filed for bankruptcy</b></u></a>.<span> </span>I have no doubt that critics, skeptics and naysayers are smirking in their cheerios this morning.<span> </span>My heart aches.<span> </span>My hypotheses and philosophies of the future of Church finances have been supported by this event, but I find no pleasure in it.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Please, let me explain.<span> </span>First, I love Robert Schuller.<span> </span>In the early years of my time in full time ministry, his book, “Your Church Has Real Possibilities” was very influential in helping me form practical direction for British Isle Evangelism.<span> </span>I have been to the Crystal Cathedral a couple of time and thoroughly enjoyed the experience.<span> </span>I’ve never been a big fan of “The Hour of Power” and believe it has painted a terribly incomplete picture of the ministry of Robert Schuller and life of the congregation there in Garden Grove.</div><div class="MsoNormal">Despite my fondness for Robert Schuller, I do have some rather strong doctrinal variances from him.<span> </span>It is not, however, doctrinal, but practical and financial weaknesses that have brought this crisis upon the Crystal Cathedral.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">All living organisms reach maturity, then age and die.<span> </span>A local congregation is not exempt.<span> </span>Even a mega Church will eventually experience the phenomenon.<span> </span>The death may be slow, even very slow, but eventually, regress happens.<span> </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Real estate (at least the buildings), are subject to the laws of science (eg. Thermodynamics).<span> </span>Buildings, parking lots, fixtures, and the like, wear out, atrophy, eventually to the point that repair is no longer viable.<span> </span>Restoration or replacement can be extremely expensive. The Crystal Cathedral was once the cutting edge of Sacred Architecture, now it is a dated, aging monument to days gone by.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Even great ministries and their campuses reach a plateau.<span> </span>Some, especially those which are legacies to a single man’s (or woman’s) vision, are likely to survive little more than the lifespan of the founder.<span> </span>Those with the vision and savvy to create a succession plan, will live, and can even prosper for generations.<span> </span>But, time and circumstance happen to us all.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">The churches that last the longest continue to morph and reinvent themselves by moving campuses, changing formats and maintain a certain balance between longevity and turnover of staff.<span> </span>Some even change their names as a part of the metamorphosis.<span> </span></div><div class="MsoNormal"><span> </span></div><div class="MsoNormal">I have nothing against those things, but I submit that those changes may actually mean that a new congregation has been birthed rather than a simple location change.<span> </span>Some of the core may be the same, but the differences are significant enough to suggest the organization is different.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Churches are also subject to the laws of economics.<span> </span><span> </span>When we spend less than we earn, when we avoid debt, when we budget wisely , give generously and when we save appropriately, with an eye to the future, we prosper.<span> </span>When we run up debt, spend ahead of our income, expand too quickly and have no financial cushion, we risk much.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Our current economic crisis in America (and the world), has highlighted a fundamental crack in the traditional financial thinking of many congregations.<span> </span>A large number of ‘boom’ Churches are in serious financial trouble.<span> </span>As the communities around them blossomed under the economic and housing bubble of the 90s and early 00s, congregations grew and expanded.<span> </span>Following the example of their members, large numbers of Churches built McMansions in the suburbs.<span> </span>Using easy credit, they took out huge mortgages and built oases of peace and faith that were reverent and (often) simultaneously flamboyant.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">These relocated congregations frequently experienced a huge burst of activity and growth when they moved into their new facilities and added staff and ministries accordingly.<span> </span>We justified our extravagance by pointing to “God’s blessings” and our noble purpose.<span> </span>We convinced ourselves that we were “casting our bread upon the waters”.<span> </span>Oh, what a grand time it was.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Then, like the children’s chorus, “the rains came down and the floods came up”.<span> </span>The American economy collapsed.<span> </span>The bubbles burst and all Hell broke loose.<span> </span>Businesses closed or laid off employees by the train load, unemployment exploded, banks failed, the stock market crashed, the housing market melted, money vanished. </div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Amidst the rubble of foreclosed homes, unemployment lines and broken dreams, we see church after church struggling to stay afloat.<span> </span>Offerings in many places have dropped by nearly half.<span> </span>Attendance has taken a hit in those places where families are being forced to leave in order to find work elsewhere.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">It is a bleak reality, where once thriving Churches are faced with cutting staff and programs.<span> </span>Churches born with the best of intentions and the most Holy of goals, are finding themselves struggling, or unable, to pay their mortgages.<span> </span>Banks don’t want to foreclose of places of worship.<span> </span>That’s not good PR.<span> </span>Despite the efforts of everyone involved, both borrower and lender, Churches are defaulting on loans at a record pace.<span> </span>The Crystal Cathedral is simply the most high profile example to date.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">The future requires a paradigm shift, a radical change in the way churches operate financially.<span> </span>I pray daily that we awaken and make the necessary changes before it’s too late to do so.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">For Churches that are in financial crisis, it is imperative that we begin immediately to budget like a family rather than like a corporation.<span> </span>Most congregations may be structured like a business, but we function like a household.<span> </span>We would be better off to budget that way.<span> </span></div><div class="MsoNormal"><span> </span></div><div class="MsoNormal">On a high level, that means:</div><div class="MsoListParagraphCxSpFirst" style="text-indent: -0.25in;"><span><span>1.<span style="font: 7pt "Times New Roman";"> </span></span></span>Repent</div><div class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><span><span>2.<span style="font: 7pt "Times New Roman";"> </span></span></span>Pray </div><div class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><span><span>3.<span style="font: 7pt "Times New Roman";"> </span></span></span>Stop borrowing. </div><div class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><span><span>4.<span style="font: 7pt "Times New Roman";"> </span></span></span>Establish a perimeter (it looks a little different than for a household, but essentially the same)</div><div class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><span><span>5.<span style="font: 7pt "Times New Roman";"> </span></span></span>Create a Budget (a zero based budget)</div><div class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><span><span>6.<span style="font: 7pt "Times New Roman";"> </span></span></span>Develop a baseline emergency fund</div><div class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><span><span>7.<span style="font: 7pt "Times New Roman";"> </span></span></span>Eliminate Debt</div><div class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><span><span>8.<span style="font: 7pt "Times New Roman";"> </span></span></span>Have a fully funded emergency fund</div><div class="MsoListParagraphCxSpLast" style="text-indent: -0.25in;"><span><span>9.<span style="font: 7pt "Times New Roman";"> </span></span></span>Pray</div><div class="MsoListParagraphCxSpLast" style="text-indent: -0.25in;"><br />
</div><div class="MsoNormal">There will be some tough, heartbreaking decisions in the process.<span> </span>It may mean some salary reductions.<span> </span>It may mean some staff cuts.<span> </span>It will most likely require the cutting of some ministries and services the congregation provides.<span> </span>It may mean selling the building or some of the land (if you can find a buyer).<span> </span>It will certainly mean scaling back on opulence.<span> </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Budget cuts do not have to mean quality cuts.<span> </span>It is better to do a few things well, than offer many things poorly done.<span> </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Restructuring will not be fun.<span> </span>It will not be easy.<span> </span>Feeling will be hurt and some may even leave over it.<span> </span>If that happens, so be it.<span> </span>We have to do the right thing, regardless of the consequences.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">I’m going to interject a very personal frustration here.<span> </span>Typically, one of the first cuts congregations make in times of financial difficulty is to the Missions budget.<span> </span>I find that both bizarre and counterproductive.<span> </span>Our prime directive is to disciple the world.<span> </span>If the first financial cutbacks we make are related to evangelism, then we really have some mixed up priorities.<span> </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal">A better way might be something like this (it’s only an example):<span> </span>We say we have to cut 10% across the board.<span> </span>After cutting all the fat we can find, we ask the staff to take a 10% cut and we share our situation with our mission partners and explain that we are doing the same with our off campus staff.<span> </span>We let them know that as soon as the crisis is over, we will return to our normal level of giving.<span> </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Let me spend a moment offering my unsolicited and unwelcome advice to recent or future Church plants: Don’t do debt!<span> </span>The economic landscape has changed, maybe forever.<span> </span>The tectonic plates of our financial basis have shifted.<span> </span>The Church is not in the real estate business.<span> </span>I urge you to stay in rented or borrowed facilities either permanently or at least until you have cash to purchase.<span> </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><span> </span></div><div class="MsoNormal">If you feel you must take out a mortgage, only ever do so on your first structure, and absolutely NEVER of future expansions.<span> </span>Did I say NEVER?<span> </span>Good.<span> </span>Build the minimum that you can get away with.<span> </span>Make sure that your mortgage can be paid with the current income, and do not rely on any projected future income that will come from wished for growth.<span> </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Make absolutely sure you use a zero based budget.<span> </span>Each ministry, each service, each program, must justify its existence.<span> </span>Do not expand in either staffing or campus until there is cash flow to do so.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Focus on ministry rather than facility.<span> </span>The Great Commission says, “GO!” It says nothing about “Invite”.<span> </span>We can be more effective and more involved if we take our work to the hurting rather than finding a way to get the hurting to us.<span> </span>I think of ministry more like ‘search and rescue’ than an emergency room where the wounded are carried.<span> </span>I’m all for emergency rooms, I just think a pro active role is more Biblical.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">I intend to flesh these thoughts out in a future book (working title, “Paradigm Shift: a Quest for Revival, Reformation and Revolution in the Church”), but for now, I hope this rant get you thinking.<span> </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><span> </span>I am cross posting this in “Recession Proof Living” and in “Paradigm Shift”.</div>Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-1533470042351806662010-10-16T07:26:00.000-04:002010-10-16T07:26:16.595-04:00Freeze on Reposession - Sounds Compassionate, but is Bad BusinessWe're all pretty much aware that home foreclosures are at an all time high and the number just keeps on growing. You may even have followed the story of the family in Denmark, ME who refused to pay their mortgage for years, but had the foreclosure fail because of shoddy paperwork by the bank.<br />
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As that story unfolded, the world discovered that the subprime loan debacle was not the only skeleton in the closet of the embattled mortgage industry. We have learned of falsified signatures, 'robo' signers, clerical errors, and more. The banking world has given itself another black eye. I've even heard stories of people who were current (and always had been) on their loans, being foreclosed on!<br />
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Now we have another mess at just the time we need some stability. What we don't need is a knee jerk reaction that cripples the already wounded housing industry. But what we're getting is a knee jerk reaction. Go figure.<br />
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There is talk of a moratorium on foreclosures and some lenders have enacted voluntary freezes. On the surface, that sounds compassionate and responsible. In reality, it has the potential of hurting everyone who is trying to sell a house or even buy one. Here's why I think so.<br />
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First, if I'm a title insurance company, I am much less likely to risk underwriting anything. No title insurance, no mortgage.<br />
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Secondly, if I'm a lender, what motive do I have to loan money? If there is no guarantee and I must bear all the risk, I have no incentive to put my money out on the table. <br />
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If I'm a homeowner, I'm tempted to to say, "Hey, why should I pay my mortgage? The guy down the road hasn't paid his in 2 years and nothing has happened, why am I being punished for being responsible?"<br />
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If I'm trying to sell my house, I'm stuck because even if someone wants to buy my house, the buyer's trouble in finding title insurance or a willing lender may kill the deal.<br />
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There is no excuse for the shoddy business practices that have led to this mess. The perpetrators should be uncovered and dealt with accordingly. But let's not damage our economy more, by over reacting. In my opinion, the suggested moratorium is a political move rather than a financially sound one. Deal with each case, each mortgage and each lender on an individual basis. Grant assistance where assistance is required. Dole out justice where justice is required. Repossess where appropriate, and fine or close up those businesses who have done wrong. But don't, please don't, risk us all.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-33650151432858874172010-10-11T05:50:00.000-04:002010-10-11T05:50:25.278-04:00The Fed is Making Me Nervous.....AGAIN!I'm not an economist. I don't want to be one and I don't play one on T.V. I'm just a guy who wants to live on less than I earn, avoid debt, build enough wealth so that I don't have to worry about economic down turns and upticks and help others do the same.<br />
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Like I said, I'm not an economist, but as I watch our Federal Government and the Federal Reserve pile bad decision upon bad decision, I grow concerned that sound economics is an endangered category. I <b><a href="http://www.cnbc.com/id/39604937">read this morning</a></b> that the Fed is considering printing more money, with the intent of driving down the dollar and driving up inflation. <br />
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To my simple Hillbilly mind, that sends the wrong message. First, driving prices UP via inflation just before the Holidays, in a time of high unemployment, does not indicate a concern for the welfare of the average American. The focus appears to me to be on foreign investment, by making it less expensive to invest in America; kind of like a big sale.<br />
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Perhaps it will work, but it's just as likely to make foreign investors run for the hills. It will not spur borrowing, which is another desired outcome. As long as people remain out of work at a near 10% level, we are not going to see the spending that the Fed keeps wishing for. Creating inflation will not do that, either, though it may ward off <i>deflation</i>.<br />
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It seems to me that we should look to ourselves, rather than to the outside to solve our economic uncertainties. Lower taxes, cut spending and let the markets take care of themselves. <br />
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For the average individual or family, the way to face the future is increasingly clear; eliminate debt FAST, put God first, live on less than you earn, grow and emergency fund of 1 year of living expenses, store up one year of staples, save at least 10% and slowly increase that to 20%. Everyone who works this plan for the next 7 years will find themselves secure against whatever the future holds. I am convinced of it.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-62868730564158849002010-09-20T07:16:00.000-04:002010-09-20T07:16:39.456-04:00Moving More to FacebookAs some of you know, I am trying to maintain (poorly) three blogs, three websites and two facebook pages. That's kind of silly. Especially in light of my current efforts in getting some new books and home study courses created. So, in order to manage my time, yet try and stay in touch, I'm going to cut back on my blogging for a while and increase my facebook presence. Please encourage your family and friends to follow the <a href="http://www.facebook.com/home.php?#%21/no.debt?ref=ts">IOU NO MORE facebook page</a>. And stay tuned for an announcement regarding a brand new newsletter coming this fall.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0tag:blogger.com,1999:blog-6724715452175934834.post-20941171707686489152010-09-15T06:39:00.000-04:002010-09-15T06:39:17.510-04:00An Inconvenient FeeIt's Property Tax time in Georgia. Oh, joy! Regardless of any resentment or questions about value for money, it's time to pay. As I normally do with bills, I went online to pay my property taxes. Our local Govt. has a nice page so we can pay without the bother of writing checks or affixing stamps to envelopes and walking out to the mailbox. <br />
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I went through the usual routine of entering all my information and debit card number. I hit enter and get a 'review payment' page. Nice touch. It is there I noticed that there was a significant difference between the total I was paying and the actual tax bill. <br />
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Reading through the darned thing, I discover a $58 'convenience charge'. Convenience Charge? $58? I think not. I already feel gouged by taxes and now they hope to get more with a convenience charge? No, thank you. I cancelled the order and am writing a check. <br />
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The moral to the story is, always watch for hidden fees. Some of them are doozies. <br />
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In a related note, Suntrust Bank, where we keep our farming account has just announced the end of our free checking program. We will be assessed a monthly fee if we don't maintain a minimum balance. The problem is, we don't maintain anywhere near a $1k balance in that checking account. We opened it for two reasons; 1. we want to keep our farm business as separate from our personal accounts as possible and 2. they offered us 'free checking'. Well, now they've removed the 'r'. <br />
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I have great news for Suntrust, we are going to make their administrative duties a bit easier. We are closing our account. That way they don't have to do all that adding and subtracting and fee assessing. I'd rather have an account. But I'm not paying fees for such a small regular balance. So, we're going cash. <br />
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Decision made. As the radio commercial says, "Day one, living solid". Much more solid without Suntrust fees.Sam Burtonhttp://www.blogger.com/profile/03382501443801585368noreply@blogger.com0