For those of you who are married, think back to the important issues you discussed before your wedding day–things like when and how many children you would have or where you might live. How about whether or not to keep the same Thanksgiving/Christmas/Easter traditions as your parents? Unfortunately each partner’s spending and borrowing habits are rarely given more than a cursory discussion during the engagement term.
Author Archives: Tom Barbour
The ESV translation of Proverbs 13:22 says, “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” Proverbs 22:7 tells us, “The borrower is the slave of the lender.” The apostle John bluntly reminds us in his first epistle (1 John 2:16), “For all that is in the world—the desires of the flesh and the desires of the eyes and pride in possessions—is not from the Father but is from the …
Does anyone remember the Economic Stimulus Act of 2008? Eligible taxpayers could receive up to $600 ($1,200 for married couples), but it phased out for annual incomes beginning at $75,000 and ending at $150,000. According to the White House fact sheet, the Act was primarily intended to remedy slower growth, and address short-term economic uncertainties by allowing “Americans to keep more of their money to stimulate consumer spending.” Many economists, however, saw the “stimulus” as …
In 1 Timothy 6:6, the Apostle Paul says, “Now godliness with contentment is great gain. For we brought nothing into this world, and it is certain we can carry nothing out. And having food and clothing, with these we shall be content.” He tells the Philippians in 4:11, “Not that I speak from want, for I have learned to be content in whatever circumstances I am.” By the time I reached junior high, I discovered …
March 1, 2012
by Tom Barbour
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When I began my financial planning practice in the mid-‘80s, Rich and Cindy were among my first clients. Rich was a fellow deacon in our church and also the lead lay teacher for the youth group. In his early thirties, Rich was a building superintendent for a major construction company, while Cindy was a stay-at-home mom caring their two children. Rich called me one day to say that he was being promoted to a new …