Financial Expenses Quotes

The rich does not work for money, but money work for them...., While the poor work for money.Illiteracy, both in word and numbers, is the foundation of financial struggle....,Wealth is a person's ability to survive so many number of days forward... or if i stopped working today, how could i survive?...,Wealth is the measure of cash flow from to asset column compared with the expense column...,

Social interaction, it appeared, was surprisingly expensive—the travel, the clothes, the drinks, the lunches, the gifts. Sometimes it evened out in the end—like with the drinks—but, I was finding out, more often than not, one incurred a net financial loss.

When you know the impact of little expenses, you will realise that there is nothing little in this world.

In order that a select few might live in great opulence, millions of people work hard for an entire lifetime, never free from financial insecurity, and at great cost to the quality of their lives. The complaint is not that the very rich have so much more than everyone else but that their superabundance and endless accumulation comes at the expense of everyone and everything else, including our communities and our environment.

But the simple truth is this: the more complex an investment is, the less likely it is to be profitable. Index funds outperform actively managed funds in large part simply because actively managed funds require expensive active managers. Not only are they prone to making investing mistakes, their fees are a continual performance drag on the portfolio.

Financial freedom is not a certain amount of money sitting in your bank account—it is when your passive income (earnings made by doing essentially no work) exceeds your expenses.

Financial parasites: greedy people who live luxurious life at the expense and hard work of others." ~ Angelica Hopes, an excerpt from the book, Odyssey of a Heart, Home of a Soul

Exploitation thrives when it comes to the essentials, like housing and food. Most of the 12 million Americans who take out high-interest payday loans do so not to buy luxury items or cover unexpected expenses but to pay the rent or gas bill, buy food, or meet other regular expenses. Payday loans are but one of many financial techniques—from overdraft fees to student loans for for-profit colleges—specifically designed to pull money from the pockets of the poor.46 If the poor pay more for their housing, food, durable goods, and credit, and if they get smaller returns on their educations and mortgages (if they get returns at all), then their incomes are even smaller than they appear. This is fundamentally unfair.

Financial success isn’t about how much you make, but about what you do with what you make.” “I work too hard for my money to spend it on fruitless things.” “It’s our responsibility today to plan for tomorrow’s expenses.” “Most of America’s wealthy aren’t showing it off.

Companies should assess the impact of debt on capital structure to maintain financial stability and optimize their cost of capital. This evaluation helps them strike the right balance between debt and equity, ensuring efficient financing, lower interest expenses, and sustainable growth.

What would you think of a man who not only kept an arsenal in his home, but was collecting at enormous financial sacrifice a second arsenal to protect the first one? What would you say if this man so frightened his neighbors that they in turn were collecting weapons to protect themselves from him? What if this man spent ten times as much money on his expensive weapons as he did on the education of his children? What if one of his children criticized his hobby and he called that child a traitor and a bum and disowned it? And he took another child who had obeyed him faithfully and armed that child and sent it out into the world to attack neighbors? What would you say about a man who introduces poisons into the water he drinks and the air he breathes? What if this man not only is feuding with the people on his block but involves himself in the quarrels of others in distant parts of the city and even in the suburbs? Such a man would clearly be a paranoid schizophrenic, Mr. Flanagan, with homicidal tendencies.

Creating a home that makes you feel wonderful is a gift you give yourself that echoes through the rest of your life. A bedroom you love is one in which you want to have an organized, well-cared-for wardrobe, which means less money spent replacing your battered items. A happy, practical, smartly appointed kitchen is one you actually *want* to cook in, which means much less money spent eating out or ordering in. A chic and comfortable living room means more entertaining at home and embracing the lost art of dinner parties (always cheaper than doing drinks and a restaurant dinner!). Even a Zen, candle-filled, clean bathroom is one in which you want to spend time doing home spa treatments instead of feeling like you have to go somewhere expensive to feel beautiful. If you create a home that is most attuned to your life and somewhere you really enjoy being, everything benefits.

bear in mind when trying to compare housing with other forms of capital asset. The first is depreciation. Stocks do not wear out and require new roofs; houses do. The second is liquidity. As assets, houses are a great deal more expensive to convert into cash than stocks. The third is volatility.

Godwin was also of little practical assistance. He had calculated his living expenses down to the last penny, sometimes having to borrow a few pounds to make ends meet. He had never intended to assume the financial responsibility of a family, declaring that such obligations blighted the freedom of the male intellectual.

To create a budget that will help you meet your goals, you first have to figure out what your goals are and define them.

Your expenses will rise to meet your increased income, unless you are on a mission.

Experts tout many positive reasons to save money, including being able to afford things like a home, car or holiday, becoming financially independent and being prepared for unforeseen expenses or emergencies. Ultimately, putting money aside for a rainy day will make you feel less stressed, more in control of your finances and all-around happier. Now that's worth saving for!

Putin isn’t a full-blown Fascist because he hasn’t felt the need. Instead, as prime minister and president, he has flipped through Stalin’s copy of the totalitarian playbook and underlined passages of interest to call on when convenient. Throughout his time in office, he has stockpiled power at the expense of provincial governors, the legislature, the courts, the private sector, and the press. A suspicious number of those who have found fault with him have later been jailed on dubious charges or murdered in circumstances never explained. Authority within Putin’s “vertical state”—including directorship of the national oil and gas companies—is concentrated among KGB alumni and other former security and intelligence officials. A network of state-run corporations and banks, many with shady connections offshore, furnish financial lubricants for pet projects and privileged friends. Rather than diversify as China has done, the state has more than doubled its share of the national economy since 2005.

The HSA (Health Savings Account) is a great way to save on premiums. The high deductible creates a much lower premium, and this plan allows you to save for medical expenses in a tax-free savings account.

We said it should be enough to cover three to six months of expenses, but should you go with three months or six months? If you think about the purpose of this fund, it will help you determine what is right for you. The purpose of the fund is to absorb risk, so the more risky your situation, the greater the emergency fund you should have. For example, if you earn straight commission or are self-employed, you should use the six-months rule. If you are single or you are a one-income married household, you should use the six-months rule because a job loss in your situation is a 100 percent cut in household income.

Another common mistake that tilts the odds against many unsuspecting investors is to pay lavish fees to mediocre fund managers, stockbrokers, and financial advisers whose performance doesn’t justify the expense.

Figuring out how much to pay for a college education is one of the biggest financial decisions people make in their lifetime, and parents often leave the final call to a 17-year-old who has never purchased anything more expensive than a bicycle.

Fred had disowned us because he could. The people who’d been assigned to protect us, at least financially, were our trustees—Maryanne, Donald, Robert, and Irwin Durben—but they apparently had no interest in protecting us, especially at their own expense

Once 4% of your assets can cover your expenses, consider yourself financially independent. Put another way, financial independence = 25x your annual expenses. That is, if you are living on $20,000 you have reached financial independence with $500,000 invested.

it’s rarely worth the expense for a private company to sponsor your clearance application and then pay you to wait around for a year for the government’s approval. It makes more financial sense for a company to just hire an already-cleared government employee.

When foreign military spending [bombing Korea and Vietnam] forced the U.S. balance of payments into deficit and drove the United States off gold in 1971, central banks were left without the traditional asset used to settle payments imbalances. The alternative by default was to invest their subsequent payments inflows in U.S. Treasury bonds, as if these still were “as good as gold.” Central banks have been holding some $4 trillion of these bonds in their international reserves for the past few years — and these loans have financed most of the U.S. Government’s domestic budget deficits for over three decades. Given the fact that about half of U.S. Government discretionary spending is for military operations — including more than 750 foreign military bases and increasingly expensive operations in the oil-producing and transporting countries — the international financial system is organized in a way that finances the Pentagon, along with U.S. buyouts of foreign assets expected to yield much more than the Treasury bonds that foreign central banks hold.

The key to true wealth is putting your money to work for you. Practically speaking, that means spending money on income-producing assets that will supply cash and continue to grow in value over time. The most common assets used to build wealth include: • Stocks • Bonds • Real estate

For those who still believe structural inequality is a figment of feminists’ imagination, let’s recap some of the ways the financial odds are stacked against women. The gender pay gap sits stubbornly at around 18 per cent in Australia. (It gets wider the higher up the ladder you go, by the way). Female-dominated occupations are less well paid than male-dominated ones. Six out of ten Australians work in an industry dominated by one gender. Australia has one of the highest rates of part-time work in the world: 25 per cent of us work part time. Women make up 71.6 per cent of all part-time workers and 54.7 per cent of all casual employees. Australian women are among the best educated in the world but have relatively low comparable workplace participation and achievement rates. And just to add insult to injury, products marketed to women are more expensive than those marketed to men!

Cash flow is the life blood of your business. It allows you to develop a product, undertake research, cover overhead costs, and invest in future projects. You should review your financial situation regularly to anticipate future expenses and allocate your budget appropriately to ensure they are covered.

Thanks to years of travel at other people’s expense, I have a lifetime supply of soaps, small bottles of shampoo, aromatic lotions, sewing kits, and shoe mitts. I have over eleven hundred shower caps and require now only a reason to use them. I am so well prepared financially that I have money in a range

I’d spent more in these last few weeks than I usually spent in a year. Social interaction, it appeared, was surprisingly expensive—the travel, the clothes, the drinks, the lunches, the gifts. Sometimes it evened out in the end—like with the drinks—but, I was finding out, more often than not, one incurred a net financial loss.

A variation of Get Rich Quick schemes was robbing Peter to pay Paul, or benefiting one person at the expense of others. The origin of the phrase is open to dispute, but one account traces it to the 1500s in England, when the lands of Saint Peter’s Church at Westminster were sold to fund repairs at Saint Paul’s Cathedral in London.

Here’s the deal. When you get married, you become a team. The pastor at your wedding wasn’t joking when he said, “And now you are one.” It’s called unity. The old marriage vows say, “Unto thee I pledge all my worldly goods.” In other words, “I’m all in,” so combine the checking accounts. It’s hard to have unity when you separate your bank accounts. When his money is over here, and her money is over there, it’s easy to live in your own little financial world instead of working as a team. When you do your spending together, it’s about “our” money. We have an income and we have expenses and we have goals. So when you’re both in agreement on where the money is going, then you’ve taken a major step to being on the same page in your marriage, and you will create awesome levels of communication. This all boils down to trust. Do you trust your spouse or not? I’ve heard from people who keep separate bank accounts just in case their spouse leaves them. Well, why on earth would you marry someone you can’t trust? And if that’s really the case, then you need marriage counseling, not separate bank accounts! Your spouse isn’t your roommate, and this isn’t a joint business venture. It’s a marriage! You don’t run your household and your life separately. Your job is to love each other well, and that includes having shared financial goals—which is hard to do when you have separate accounts.

But he was sometimes willing to sacrifice financial profit to scholastic prestige. Occasionally, by special arrangement, he would take at greatly reduced fees some boy who seemed likely to win scholarships and thus bring credit on the school. It was on these terms that I was at Crossgates myself: otherwise my parents could not have afforded to send me to so expensive a school.

What most small investors didn’t realize was that things were often stacked against them. Many of the most respected business leaders in the country took part in syndicates in which share prices were shamelessly manipulated for the sake of a large, quick gain at the expense of innocent investors. One such, reported by the financial writer John Brooks in his classic Once in Golconda, involved such

University of Otago social historian Hera Cook provides a beautiful illustration of exactly this point in her rich account of the sexual revolution.49 Cook notes that in eighteenth-century England, women were assumed to be sexually passionate. But drawing on economic and social changes, fertility-rate patterns, personal accounts, and sex surveys and manuals, Cook charts the path toward the sexual repression of the Victorian era. This was a time of reduced female economic power, thanks to a shift from production in the home to wage earning, and there was less community pressure on men to financially support children fathered out of wedlock. And so, in the absence of well-known, reliable birth control techniques, “women could not afford to enjoy sex. The risk made it too expensive a pleasure.”50

George Muller, that remarkable man of such simple yet strong faith in God, a man of prayer and Bible reading, founder and promoter of the noted orphanage in England, which cared for hundreds of orphan children, conducted the institution solely by faith and prayer. He never asked a man for anything, but simply trusted in the Providence of God, and it is a notorious fact that never did the inmates of the home lack any good thing. From his paper he always excluded money matters, and financial difficulties found no place in it. Nor would he mention the sums which had been given him, nor the names of those who made contributions. He never spoke of his wants to others nor asked a donation. The story of his life and the history of this orphanage read like a chapter from the Scriptures. The secret of his success was found in this simple statement made by him: “I went to my God and prayed diligently, and received what I needed.” That was the simple course which he pursued. There was nothing he insisted on with greater earnestness than that, be the expenses what they might be, let them increase ever so suddenly, he must not beg for anything. There was nothing in which he took more delight and showed more earnestness in telling than that he had prayed for every want which ever came to him in his great work. His was a work of continuous and most importunate praying, and he always confidently claimed that God had guided him throughout it all. A stronger proof of a divine providence, and of the power of simple faith and of answered prayer, cannot be found in Church history or religious biography.

Work was all I did, and I realized that was upsetting.” It was upsetting philosophically—there is more to life—but it also felt financially foolish. “I live in New York City. If all I was doing was working, I could do that from anywhere. I could do that from a shack in the middle of the desert,” she says. “Why pay to live in one of the world’s most expensive cities if I wasn’t taking advantage of it?

suggest funding college, or at least the first step of college, with an Educational Savings Account (ESA), funded in a growth-stock mutual fund. The Educational Savings Account, nicknamed the Education IRA, grows tax-free when used for higher education. If you invest $2,000 a year from birth to age eighteen in prepaid tuition, that would purchase about $72,000 in tuition, but through an ESA in mutual funds averaging 12 percent, you would have $126,000 tax-free. The ESA currently allows you to invest $2,000 per year, per child, if your household income is under $220,000 per year. If you start investing early, your child can go to virtually any college if you save $166.67 per month ($2,000/year). For most of you, Baby Step Five is handled if you start an ESA fully funded and your child is under eight. If your children are older, or you have aspirations of expensive schools, graduate school, or PhD programs that you pay for, you will have to save more than the ESA will allow. I would still start with the ESA if the income limits don’t keep you out. Start with the ESA because you can invest it anywhere, in any fund or any mix of funds, and change it at will. It is the most flexible, and you have the most control.

Accordingly, the choice between a literature review and a research thesis is linked to the student’s ability and maturity. And regrettably, it is often linked to financial factors, because a working student certainly has less time and energy to dedicate to long hours of research and trips to foreign research institutes or libraries, and often lacks money for the purchase of rare and expensive books and other resources.

Elite support for so-called free trade is due to the fact that elites share a global perspective at odds with the best interests of the United States. Policies that produce world growth at U.S. expense are endorsed. Policies that benefit the United States while slowing world growth are rejected. Today globalization’s triumph over nationalism is energizing a nationalist revival as nations reassess their individual interests. Certain

Egypt was rich in copper ore, which, as the base of bronze, had been valuable through the entire Meditarranean world. By 1150 B.C., however, the Iron Age had succeeded the bronze Age. Egypt had no iron and so lost power in the Asiatic countries where the ore existed; the adjustment of its economy to the new metal caused years of inflation and contributed to the financial distress of the central government. The pharaoh could not meet the expenses of his government; he had no money to pay the workers on public buildings, and his servants robbed him at every opportunity. Still a god in theory, he was satirized in literature and became a tool of the oligarchy. During the centuries after the twelfth B.C., the Egyptian state disintegrated into local units loosely connected by trade. Occasional spurts of energy interrupted the decline, but these were short-lived and served only to illuminate the general passivity.

Despite our financial struggles, he - the narcissist - would insist that we take lavish vacations, get $150 bottles of wine, and spare no expense. When the bills came in, he couldn’t be bothered, but he always expected the show to go on. Narcissists will tend to spend money they don’t have to throw a big show. One place this will sometimes emerge is in wedding planning. Many people I talked with reflected back on their weddings as though they were a “show”.

Fifteen years ago, a business manager from the United States came to Plum Village to visit me. His conscience was troubled because he was the head of a firm that designed atomic bombs. I listened as he expressed his concerns. I knew if I advised him to quit his job, another person would only replace him. If he were to quit, he might help himself, but he would not help his company, society, or country. I urged him to remain the director of his firm, to bring mindfulness into his daily work, and to use his position to communicate his concerns and doubts about the production of atomic bombs. In the Sutra on Happiness, the Buddha says it is great fortune to have an occupation that allows us to be happy, to help others, and to generate compassion and understanding in this world. Those in the helping professions have occupations that give them this wonderful opportunity. Yet many social workers, physicians, and therapists work in a way that does not cultivate their compassion, instead doing their job only to earn money. If the bomb designer practises and does his work with mindfulness, his job can still nourish his compassion and in some way allow him to help others. He can still influence his government and fellow citizens by bringing greater awareness to the situation. He can give the whole nation an opportunity to question the necessity of bomb production. Many people who are wealthy, powerful, and important in business, politics, and entertainment are not happy. They are seeking empty things - wealth, fame, power, sex - and in the process they are destroying themselves and those around them. In Plum Village, we have organised retreats for businesspeople. We see that they have many problems and suffer just as others do, sometimes even more. We see that their wealth allows them to live in comfortable conditions, yet they still suffer a great deal. Some businesspeople, even those who have persuaded themselves that their work is very important, feel empty in their occupation. They provide employment to many people in their factories, newspapers, insurance firms, and supermarket chains, yet their financial success is an empty happiness because it is not motivated by understanding or compassion. Caught up in their small world of profit and loss, they are unaware of the suffering and poverty in the world. When we are not int ouch with this larger reality, we will lack the compassion we need to nourish and guide us to happiness. Once you begin to realise your interconnectedness with others, your interbeing, you begin to see how your actions affect you and all other life. You begin to question your way of living, to look with new eyes at the quality of your relationships and the way you work. You begin to see, 'I have to earn a living, yes, but I want to earn a living mindfully. I want to try to select a vocation not harmful to others and to the natural world, one that does not misuse resources.' Entire companies can also adopt this way of thinking. Companies have the right to pursue economic growth, but not at the expense of other life. They should respect the life and integrity of people, animals, plants and minerals. Do not invest your time or money in companies that deprive others of their lives, that operate in a way that exploits people or animals, and destroys nature. Businesspeople who visit Plum Village often find that getting in touch with the suffering of others and cultivating understanding brings them happiness. They practise like Anathapindika, a successful businessman who lived at the time of the Buddha, who with the practise of mindfulness throughout his life did everything he could to help the poor and sick people in his homeland.

The rich look at money not as a limited resource that they need to maximize (the way most people do), but as a fungible tool that can be used for any purpose. They take advantage of every opportunity to make more money and build wealth in as many ways as possible—by cutting expenses, optimizing their fees/prices, minimizing their taxes, building multiple income streams, and using whatever other ways they can find. They focus on making as much money as possible per minute and hour of their time.

To track your money, write down or digitally capture every dollar you spend for one month. Include everything, from your $1,800 mortgage payment to the $4 coffee you grabbed on your way into work. Here, savings counts as an expense, so remember to include any money you put into a savings or retirement account (unless it was taken out of your paycheck—don’t include that). Record each expense regardless of whether you pay by cash, check, debit or credit card, automatic payment, or online transfer.

fad is a wave in the ocean, and a trend is the tide. A fad gets a lot of hype, and a trend gets very little. Like a wave, a fad is very visible, but it goes up and down in a big hurry. Like the tide, a trend is almost invisible, but it’s very powerful over the long term. A fad is a short-term phenomenon that might be profitable, but a fad doesn’t last long enough to do a company much good. Furthermore, a company often tends to gear up as if a fad were a trend. As a result, the company is often stuck with a lot of staff, expensive manufacturing facilities, and distribution networks. (A fashion, on the other hand, is a fad that repeats itself. Examples: short skirts for women and double-breasted suits for men. Halley’s Comet is a fashion because it comes back every 75 years or so.) When the fad disappears, a company often goes into a deep financial shock. What happened to Atari is typical in this respect. And look how Coleco Industries handled the Cabbage Patch Kids. Those homely dolls hit the market in 1983 and started to take off. Coleco’s strategy was to milk the kids for all they were worth. Hundreds of Cabbage Patch novelties flooded the toy stores. Pens, pencils, crayon boxes, games, clothing. Two years later, Coleco racked up sales of $776 million and profits of $83 million. Then the bottom dropped out of the Cabbage Patch Kids. By 1988 Coleco went into Chapter 11. Coleco died, but the kids live on. Acquired by Hasbro in 1989, the Cabbage Patch Kids are now being handled conservatively. Today they’re doing quite well.

So, if you suddenly experienced a financial windfall, you would ultimately be much happier if you spent the money on numerous pleasant, mood-boosting things occurring on a day-to-day or weekly basis—a daily lunch of expensive sushi, a weekly massage, a regular delivery of fresh flowers, or Sunday-morning calls to your best friend in Europe—rather than spend it all on a single big-ticket item that you believe you would really love, like a new top-of-the-line Jaguar or the remodeling of a bathroom with hand-painted tile.

• Auto and Homeowner Insurance—Choose higher deductibles in order to save on premiums. With high liability limits, these are the best buys in the insurance world. • Life Insurance—Purchase twenty-year level term insurance equal to about ten times your income. Term insurance is cheap and the only way to go; never use life insurance as a place to save money. • Long-Term Disability—If you are thirty-two years old, you are twelve times more likely to become disabled than to die by age sixty-five. The best place to buy disability insurance is through work at a fraction of the cost. You can usually get coverage that equals from 50 to 70 percent of your income. • Health Insurance—The number one cause of bankruptcy today is medical bills; number two is credit cards. One way to control costs is to look for large deductibles to lower your premium. The HSA (Health Savings Account) is a great way to save on premiums. The high deductible creates a much lower premium, and this plan allows you to save for medical expenses in a tax-free savings account.

Maybe it’s time Steve Jobs stopped thinking quite so differently,” Business Week wrote in a story headlined “Sorry Steve, Here’s Why Apple Stores Won’t Work.” Apple’s former chief financial officer, Joseph Graziano, was quoted as saying, “Apple’s problem is it still believes the way to grow is serving caviar in a world that seems pretty content with cheese and crackers.” And the retail consultant David Goldstein declared, “I give them two years before they’re turning out the lights on a very painful and expensive mistake.

Read the notes.Never buy a stock without reading the footnotes to the financial statements in the annual report. Usually labeled “summary of significant accounting policies,” one key note describes how the company recognizes revenue, records inventories, treats installment or contract sales, expenses its marketing costs, and accounts for the other major aspects of its business.7 In the other footnotes, watch for disclosures about debt, stock options, loans to customers, reserves against losses, and other “risk factors” that can take a big chomp out of earnings

The best available apples-to-apples comparison of inflation-adjusted earnings shows what the typical fully employed man earned back in the 1970s and what that same fully employed man earns today. The picture isn’t pretty. As the GDP has doubled and almost doubled again, as corporations have piled up record profits, as the country has gotten wealthier, and as the number of billionaires has exploded, the average man working full-time today earns about what the average man earned back in 1970. Nearly half a century has gone by, and the guy right in the middle of the pack is making about what his granddad did. The second punch that’s landed on families is expenses. If costs had stayed the same over the past few decades, families would be okay—or, at least, they would be in about the same position as they were thirty-five years ago. Not advancing but not falling behind, either. But that didn’t happen. Total costs are up, way up. True, families have cut back on some kinds of expenses. Today, the average family spends less on food (including eating out), less on clothing, less on appliances, and less on furniture than a comparable family did back in 1971. In other words, families have been pretty careful about their day-to-day spending, but it hasn’t saved them. The problem is that the other expenses—the big, fixed expenses—have shot through the roof and blown apart the family budget. Adjusted for inflation, families today spend more on transportation, more on housing, and more on health insurance. And for all those families with small children and no one at home during the day, the cost of childcare has doubled, doubled again, and doubled once more. Families have pinched pennies on groceries and clothing, but these big, recurring expenses have blown them right over a financial cliff.

If we sold insurance or financial products: * Most families need insurance. * Most insurance is too expensive. * Most people don’t have extra money to invest. * Most people want their money to work hard for them. * Most people hate risky investments. * Most people would love to have their savings pay for their insurance. * Most families don’t have time to become investment experts. * Most company retirement plans aren’t enough. * Most people want a financial counselor to help them with their finances. * Most people need insurance, but can’t afford it. * Most people want to protect themselves from emergencies.

Addicts should not be coerced into treatment, since in the long term coercion creates more problems than it solves. On the other hand, for those addicts who opt for treatment, there must be a system of publicly funded recovery facilities with clean rooms, nutritious food, and access to outdoors and nature. Well-trained professional staff need to provide medical care, counseling, skills training, and emotional support. Our current nonsystem is utterly inadequate, with its patchwork of recovery homes run on private contracts and, here and there, a few upscale addiction treatment spas for the wealthy. No matter how committed their staff and how helpful their services may be, they are a drop in comparison to the ocean of vast need. In the absence of a coordinated rehabilitation system, the efforts of individual recovery homes are limited and occur in a vacuum, with no follow-up. It may be thought that the cost of such a drug rehabilitation and treatment system would be exorbitant. No doubt the financial expenses would be great — but surely less than the funds now freely squandered on the War on Drugs, to say nothing of the savings from the cessation of drug-related criminal activity and the diminished burden on the health care system.

Until Harriet Hemings left in 1822, Jefferson had never freed a female slave. There may have been several reasons for this, but we know at least one that was probably the most important to him. Two years before Harriet Hemings left Monticello, Jefferson wrote a letter to his former son-in-law John Eppes in which he said that he considered female slaves to be far more valuable than male slaves. Why? Because female slaves had children and, thus, added to capital.43 At the time of Harriet’s departure, Jefferson was in dire financial circumstances. Bad economic times in Virginia, along with Jefferson’s expensive way of life, had set him on

There is always a cost to wrongdoing and it must fall on someone. Either the wrongdoer bears it or someone else must. This is true even if the wrong is not something that can be measured financially. The cost may be in reputation or relationship or health or something else. To forgive is to deny oneself revenge (Romans 12:17–21), to absorb the cost, to not exact repayment by inflicting on them the things they did to you in order to “even the score.” Therefore forgiveness is always expensive to the forgiver, but the benefits—at the very least within your heart, and at best in the restoration of relationship and a witness to the power of the gospel—outweigh the cost.

For financial services: * Well, you know how it is almost impossible to save money now with the cost of living so high? Well, I show people how to use tax advantages to fund all their savings. * Well, you know how insurance is so expensive, but we need it? Well, I show families how to get inexpensive insurance so that they still have money to enjoy life. * Well, you know how hard it is to get out of debt? Well, I show people how to pay off their debts quickly so that they have more money to enjoy life. * Well, you know how we are all going to die? Well, I show people how to manage their money so that they can party and have a great time before they die. (Okay, am I going too far yet?)

The residence of Mr. Peter Pett, the well-known financier, on Riverside Drive is one of the leading eyesores of that breezy and expensive boulevard. As you pass by in your limousine, or while enjoying ten cents worth of fresh air on top of a green omnibus, it jumps out and bites at you. Architects, confronted with it, reel and throw up their hands defensively, and even the lay observer has a sense of shock. The place resembles in almost equal proportions a cathedral, a suburban villa, a hotel and a Chinese pagoda. Many of its windows are of stained glass, and above the porch stand two terra-cotta lions, considerably more repulsive even than the complacent animals which guard New York's Public Library.

How many pizzas can you purchase for a dollar, or for a bitcoin? In 2010, Laszlo Hanyecz bought two pizzas for 10,000 bitcoins. It was the first known commercial transaction involving bitcoin – and with hindsight, also the most expensive pizza ever. By November 2021, a single bitcoin was valued at more than $69,000, so the bitcoins Hanyecz paid for his two pizzas were worth $690 million, enough to purchase millions of pizzas.14 While the caloric value of pizza is an objective reality that remained the same between 2010 and 2021, the financial value of bitcoin is an intersubjective reality that changed dramatically during the same period, depending on the stories people told and believed about bitcoin.

Or I can stay with Colby when he comes back,” she added deliberately. She even smiled. “He’ll take care of me.” His black eyes narrowed. “He can barely take care of himself,” he said flatly. “He’s a lost soul. He can’t escape the past or face the future without Maureen. He isn’t ready for a relationship with anyone else, even if he thinks he is” She didn’t rise to the bait. “I can count on Colby. He’ll help me if I need it.” He looked frustrated. “But you won’t let me help you.” “Colby isn’t involved with anyone who’d be jealous of the time he spent looking out for me. That’s the difference.” He let out an angry breath and his eyes began to glitter. “You have to beat the subject to death, I guess.” She managed to look indifferent. “You have your own life to live, Tate. I’m not part of it anymore. You’ve made that quite clear.” His teeth clenched. “Is it really that easy for you to throw the past away?” he asked. “That’s what you want,” she reminded him. There was a perverse pleasure in watching his eyes narrow. “You said you’d never forget or forgive me,” she added evenly. “I took you at your word. I’ll always have fond memories of you and Leta. But I’m a grown woman. I have a career, a future. I’ve dragged you down financially for years, without knowing it. Now that I do…” “For God’s sake!” he burst out, rising to pace with his hands clenched in his pockets. “I could have sent you to Harvard if you’d wanted to go there, and never felt the cost! “You’re missing the point,” she said, feeling nausea rise in her throat and praying it wouldn’t overflow. “I could have worked my way through school, paid for my own apartment and expenses. I wouldn’t have minded. But you made me beholden to you in a way I can never repay.” He stopped pacing and glared at her. “Have I asked for repayment?” She smiled in spite of herself. “You look just like Matt when you glower that way.” The glare got worse. She held up a hand. “I know. You don’t want to talk about that. Sorry.” “Everyone else wants to talk about it,” he said irritably. “I’ve done nothing but dodge reporters ever since the story broke. What a hell of a way to do it, on national television!

Exploitation thrives when it comes to the essentials, like housing and food. Most of the 12 million Americans who take out high-interest payday loans do so not to buy luxury items or cover unexpected expenses but to pay the rent or gas bill, buy food, or meet other regular expenses. Payday loans are but one of many financial techniques—from overdraft fees to student loans for for-profit colleges—specifically designed to pull money from the pockets of the poor.46 If the poor pay more for their housing, food, durable goods, and credit, and if they get smaller returns on their educations and mortgages (if they get returns at all), then their incomes are even smaller than they appear. This is fundamentally unfair. Those

But you know what? I’m waving to you from the shores of forty-three and the months are peeling away. It’s looking extremely likely that I’ll still be paying off my student loans when I’m forty-four. Has this ruined my life? Has it kept me from pursuing happiness, my writing career, and ridiculously expensive cowboy boots? Has it compelled me to turn away from fantastically financially unsound expenditures on fancy dinners, travel, “organic” shampoo, and high-end preschools? Has it stopped me from adopting cats who immediately need thousands of dollars in veterinary care or funding dozens of friends’ artistic projects on Kickstarter or putting $20 bottles of wine on my credit card or getting the occasional pedicure? It has not.

Athletes, by and large, are people who are happy to let their actions speak for them, happy to be what they do. As a result, when you talk to an athlete, as I do all the time in locker rooms, in hotel coffee shops and hallways, standing beside expensive automobiles—even if he’s paying no attention to you at all, which is very often the case—he’s never likely to feel the least bit divided, or alienated, or one ounce of existential dread. He may be thinking about a case of beer, or a barbecue, or some man-made lake in Oklahoma he wishes he was waterskiing on, or some girl or a new Chevy shortbed, or a discothèque he owns as a tax shelter, or just simply himself. But you can bet he isn’t worried one bit about you and what you’re thinking. His is a rare selfishness that means he isn’t looking around the sides of his emotions to wonder about alternatives for what he’s saying or thinking about. In fact, athletes at the height of their powers make literalness into a mystery all its own simply by becoming absorbed in what they’re doing. Years of athletic training teach this; the necessity of relinquishing doubt and ambiguity and self-inquiry in favor of a pleasant, self-championing one-dimensionality which has instant rewards in sports. You can even ruin everything with athletes simply by speaking to them in your own everyday voice, a voice possibly full of contingency and speculation. It will scare them to death by demonstrating that the world—where they often don’t do too well and sometimes fall into depressions and financial imbroglios and worse once their careers are over—is complexer than what their training has prepared them for. As a result, they much prefer their own voices and questions or the jabber of their teammates (even if it’s in Spanish). And if you are a sportswriter you have to tailor yourself to their voices and answers: “How are you going to beat this team, Stu?” Truth, of course, can still be the result—“We’re just going out and play our kind of game, Frank, since that’s what’s got us this far”—but it will be their simpler truth, not your complex one—unless, of course, you agree with them, which I often do. (Athletes, of course, are not always the dummies they’re sometimes portrayed as being, and will often talk intelligently about whatever interests them until your ears turn to cement.)

But influential business leaders were eager proponents of numbers-driven merit pay for teachers. Ross Perot, for example, pushed Dallas to implement a plan to use test scores alone to evaluate teachers and distribute pay increases. So it was ironic that private industry had, by the 1980s, mostly turned away from efforts to pay white-collar workers according to strict productivity measures, finding that such formal evaluation programs were too expensive and time-consuming to create and implement. Research showed that companies with merit pay schemes did not perform better financially than did organizations without it, nor were their employees happier. Instead, management gurus recommended that workers be judged primarily by the holistic standards of individual supervisors.

The office of midwife was hereditary in the family of the basket-maker. It belonged to his wife. She might not be competent, but the office was hers, anyway. Her pay was not high—25 cents for a boy, and half as much for a girl. The girl was not desired, because she would be a disastrous expense by and by. As soon as she should be old enough to begin to wear clothes for propriety's sake, it would be a disgrace to the family if she were not married; and to marry her meant financial ruin; for by custom the father must spend upon feasting and wedding-display everything he had and all he could borrow—in fact, reduce himself to a condition of poverty which he might never more recover from. It was the dread of this prospective ruin which made the killing of girl-babies so prevalent in India in the old days before England laid the iron hand of her prohibitions upon the piteous slaughter.

Even the cinema stories of fabulous Hollywood are loaded. One has only to listen to the cheers of an African audience as Hollywood’s heroes slaughter red Indians or Asiatics to understand the effectiveness of this weapon. For, in the developing continents, where the colonialist heritage has left a vast majority still illiterate, even the smallest child gets the message contained in the blood and thunder stories emanating from California. And along with murder and the Wild West goes an incessant barrage of anti-socialist propaganda, in which the trade union man, the revolutionary, or the man of dark skin is generally cast as the villain, while the policeman, the gum-shoe, the Federal agent — in a word, the CIA — type spy is ever the hero. Here, truly, is the ideological under-belly of those political murders which so often use local people as their instruments. While Hollywood takes care of fiction, the enormous monopoly press, together with the outflow of slick, clever, expensive magazines, attends to what it chooses to call ‘news. Within separate countries, one or two news agencies control the news handouts, so that a deadly uniformity is achieved, regardless of the number of separate newspapers or magazines; while internationally, the financial preponderance of the United States is felt more and more through its foreign correspondents and offices abroad, as well as through its influence over inter-national capitalist journalism. Under this guise, a flood of anti-liberation propaganda emanates from the capital cities of the West, directed against China, Vietnam, Indonesia, Algeria, Ghana and all countries which hack out their own independent path to freedom. Prejudice is rife. For example, wherever there is armed struggle against the forces of reaction, the nationalists are referred to as rebels, terrorists, or frequently ‘communist terrorists'!

Despite the fact that Uncle Rulon and his followers regard the governments of Arizona, Utah, and the United States as Satanic forces out to destroy the UEP, their polygamous community receives more than $6 million a year in public funds. More than $4 million of government largesse flows each year into the Colorado City public school district—which, according to the Phoenix New Times, “is operated primarily for the financial benefit of the FLDS Church and for the personal enrichment of FLDS school district leaders.” Reporter John Dougherty determined that school administrators have “plundered the district’s treasury by running up thousands of dollars in personal expenses on district credit cards, purchasing expensive vehicles for their personal use and engaging in extensive travel. The spending spree culminated in December [2000], when the district purchased a $220,000 Cessna 210 airplane to facilitate trips by district personnel to cities across Arizona.” Colorado City has received $1.9 million from the U.S. Department of Housing and Urban Development to pave its streets, improve the fire department, and upgrade the water system. Immediately south of the city limits, the federal government built a $2.8 million airport that serves almost no one beyond the fundamentalist community. Thirty-three percent of the town’s residents receive food stamps—compared to the state average of 4.7 percent. Currently the residents of Colorado City receive eight dollars in government services for every dollar they pay in taxes; by comparison, residents in the rest of Mohave County, Arizona, receive just over a dollar in services per tax dollar paid. “Uncle Rulon justifies all that assistance from the wicked government by explaining that really the money is coming from the Lord,” says DeLoy Bateman. “We’re taught that it’s the Lord’s way of manipulating the system to take care of his chosen people.” Fundamentalists call defrauding the government “bleeding the beast” and regard it as a virtuous act.

The Proofs Human society has devised a system of proofs or tests that people must pass before they can participate in many aspects of commercial exchange and social interaction. Until they can prove that they are who they say they are, and until that identity is tied to a record of on-time payments, property ownership, and other forms of trustworthy behavior, they are often excluded—from getting bank accounts, from accessing credit, from being able to vote, from anything other than prepaid telephone or electricity. It’s why one of the biggest opportunities for this technology to address the problem of global financial inclusion is that it might help people come up with these proofs. In a nutshell, the goal can be defined as proving who I am, what I do, and what I own. Companies and institutions habitually ask questions—about identity, about reputation, and about assets—before engaging with someone as an employee or business partner. A business that’s unable to develop a reliable picture of a person’s identity, reputation, and assets faces uncertainty. Would you hire or loan money to a person about whom you knew nothing? It is riskier to deal with such people, which in turn means they must pay marked-up prices to access all sorts of financial services. They pay higher rates on a loan or are forced by a pawnshop to accept a steep discount on their pawned belongings in return for credit. Unable to get bank accounts or credit cards, they cash checks at a steep discount from the face value, pay high fees on money orders, and pay cash for everything while the rest of us enjoy twenty-five days interest free on our credit cards. It’s expensive to be poor, which means it’s a self-perpetuating state of being. Sometimes the service providers’ caution is dictated by regulation or compliance rules more than the unwillingness of the banker or trader to enter a deal—in the United States and other developed countries, banks are required to hold more capital against loans deemed to be of poor quality, for example. But many other times the driving factor is just fear of the unknown. Either way, anything that adds transparency to the multi-faceted picture of people’s lives should help institutions lower the cost of financing and insuring them.

is dynamic. “Experts” frequently differ on scientific questions and their opinions can vary in accordance with and demands of politics, power, and financial self-interest. Nearly every lawsuit I have ever litigated pitted highly credentialed experts from opposite sides against each other, with all of them swearing under oath to diametrically antithetical positions based on the same set of facts. Telling people to “trust the experts” is either naive or manipulative—or both. All of Dr. Fauci’s intrusive mandates and his deceptive use of data tended to stoke fear and amplify public desperation for the anticipated arrival of vaccines that would transfer billions of dollars from taxpayers to pharmaceutical executives and shareholders. Some of America’s most accomplished scientists, and the physicians leading the battle against COVID in the trenches, came to believe that Anthony Fauci’s do-or-die obsession with novel mRNA vaccines—and Gilead’s expensive patented antiviral, remdesivir—prompted him to ignore or even suppress effective early treatments, causing hundreds of thousands of unnecessary deaths while also prolonging the pandemic

At this point in your Total Money Makeover, you are debt-free except for the house, and you have three to six months of expenses ($10,000+/–) saved for emergencies. At this point in your Total Money Makeover, you are putting 15 percent of your income into retirement savings and you are investing for your kid’s college education with firm goals in sight on both. You are now one of the top 5 to 10 percent of Americans because you have some wealth, have a plan, and are under control. At this point in your Total Money Makeover, you are in grave danger! You are in danger of settling for “Good Enough.” You are at the eighteen-mile mark of a marathon, and now that it is time to reach for the really big gold ring, the final two Baby Steps could seem out of your reach. Let me assure you that many have been at this point. Some have stopped and regretted it; others have stayed gazelle-intense long enough to finish the race. The latter have looked and seen just one major hurdle left, after which they can walk with pride among the ultra-fit who call themselves financial marathoners. They can count themselves among the elite who have finished The Total Money Makeover.

Xuan pulled out his phone and searched Google. He had to ask for the correct spelling of the drug. He wanted more real information about how much of a financial burden he would be to his parents. Money was a big concern. Possibly a deal breaker. “Several sites—it’s around five hundred dollars a day! That’s fifteen thousand a month! How could I let my parents pay that much for me?” Fifteen thousand dollars. I gasped, appalled. I staggered to the chair and collapsed into it. He’ll never agree to that. Xuan opened his mouth and closed it again, in shock. The atmosphere in the room plunged from friendly and informative to frigid with mathematical figures and calculations. I sat with my elbows on my knees, my face buried in my hands. Saints, I knew cancer treatment was expensive, but I never imagined it was that expensive. That was too much. Ironically, I didn’t know if I could live with myself, knowing my parents were working day and night to keep me alive. That would be a huge financial responsibility. I just couldn’t imagine allowing it, month after month. Sadly, I wondered how many people died every year because of the cost of medication in the United States. In a way, it seemed like pharmaceutical companies were getting away with murder.

In this sense, therefore, inasmuch as we have access to neither the beautiful nor the ugly, and are incapable of judging, we are condemned to indifference. Beyond this indifference, however, another kind of fascination emerges, a fascination which replaces aesthetic pleasure. For, once liberated from their respective constraints, the beautiful and the ugly, in a sense, multiply: they become more beautiful than beautiful, more ugly than ugly. Thus painting currently cultivates, if not ugliness exactly - which remains an aesthetic value - then the uglier-than-ugly (the 'bad', the 'worse', kitsch), an ugliness raised to the second power because it is liberated from any relationship with its opposite. Once freed from the 'true' Mondrian, we are at liberty to 'out-Mondrian Mondrian'; freed from the true naifs, we can paint in a way that is 'more naif than naif', and so on. And once freed from reality, we can produce the 'realer than real' - hyperrealism. It was in fact with hyperrealism and pop art that everything began, that everyday life was raised to the ironic power of photographic realism. Today this escalation has caught up every form of art, every style; and all, without discrimination, have entered the transaesthetic world of simulation. There is a parallel to this escalation in the art market itself. Here too, because an end has been put to any deference to the law of value, to the logic of commodities, everything has become 'more expensive than expensive' - expensive, as it were, squared. Prices are exorbitant - the bidding has gone through the roof. Just as the abandonment of all aesthetic ground rules provokes a kind of brush fire of aesthetic values, so the loss of all reference to the laws of exchange means that the market hurtles into unrestrained speculation. The frenzy, the folly, the sheer excess are the same. The promotional ignition of art is directly linked to the impossibility of all aesthetic evaluation. In the absence of value judgements, value goes up in flames. And it goes up in a sort of ecstasy. There are two art markets today. One is still regulated by a hierarchy of values, even if these are already of a speculative kind. The other resembles nothing so much as floating and uncontrollable capital in the financial market: it is pure speculation, movement for movement's sake, with no apparent purpose other than to defy the law of value. This second art market has much in common with poker or potlatch - it is a kind of space opera in the hyperspace of value. Should we be scandalized? No. There is nothing immoral here. Just as present-day art is beyond beautiful and ugly, the market, for its part, is beyond good and evil.

The traditional Roman wedding was a splendid affair designed to dramatize the bride’s transfer from the protection of her father’s household gods to those of her husband. Originally, this literally meant that she passed from the authority of her father to her husband, but at the end of the Republic women achieved a greater degree of independence, and the bride remained formally in the care of a guardian from her blood family. In the event of financial and other disagreements, this meant that her interests were more easily protected. Divorce was easy, frequent and often consensual, although husbands were obliged to repay their wives’ dowries. The bride was dressed at home in a white tunic, gathered by a special belt which her husband would later have to untie. Over this she wore a flame-colored veil. Her hair was carefully dressed with pads of artificial hair into six tufts and held together by ribbons. The groom went to her father’s house and, taking her right hand in his, confirmed his vow of fidelity. An animal (usually a ewe or a pig) was sacrificed in the atrium or a nearby shrine and an Augur was appointed to examine the entrails and declare the auspices favorable. The couple exchanged vows after this and the marriage was complete. A wedding banquet, attended by the two families, concluded with a ritual attempt to drag the bride from her mother’s arms in a pretended abduction. A procession was then formed which led the bride to her husband’s house, holding the symbols of housewifely duty, a spindle and distaff. She took the hand of a child whose parents were living, while another child, waving a hawthorn torch, walked in front to clear the way. All those in the procession laughed and made obscene jokes at the happy couple’s expense. When the bride arrived at her new home, she smeared the front door with oil and lard and decorated it with strands of wool. Her husband, who had already arrived, was waiting inside and asked for her praenomen or first name. Because Roman women did not have one and were called only by their family name, she replied in a set phrase: “Wherever you are Caius, I will be Caia.” She was then lifted over the threshold. The husband undid the girdle of his wife’s tunic, at which point the guests discreetly withdrew. On the following morning she dressed in the traditional costume of married women and made a sacrifice to her new household gods. By the late Republic this complicated ritual had lost its appeal for sophisticated Romans and could be replaced by a much simpler ceremony, much as today many people marry in a registry office. The man asked the woman if she wished to become the mistress of a household (materfamilias), to which she answered yes. In turn, she asked him if he wished to become paterfamilias, and on his saying he did the couple became husband and wife.

In January 2004 President George W. Bush put NASA in high gear, heading back to the moon with a space vision that was to have set in motion future exploration of Mars and other destinations. The Bush space policy focused on U.S. astronauts first returning to the moon as early as 2015 and no later than 2020. Portraying the moon as home to abundant resources, President Bush did underscore the availability of raw materials that might be harvested and processed into rocket fuel or breathable air. “We can use our time on the moon to develop and test new approaches and technologies and systems that will allow us to function in other, more challenging, environments. The moon is a logical step toward further progress and achievement,” he remarked in rolling out his space policy. To fulfill the Bush space agenda required expensive new rockets—the Ares I launcher and the large, unfunded Ares V booster—plus a new lunar module, all elements of the so-called Constellation Program. The Bush plan forced retirement of the space shuttle in 2010 to pay for the return to the moon, but there were other ramifications as well. Putting the shuttle out to pasture created a large human spaceflight gap in reaching the International Space Station. The price tag for building the station is roughly $100 billion, and without the space shuttle, there’s no way to reach it without Russian assistance. In the end, the stars of the Constellation Program were out of financial alignment. It was an impossible policy to implement given limited NASA money.

I have never been able to understand on what theory the original investment of money can be charged against a business. Those men in business who call themselves financiers say that money is "worth" 6 per cent, or 5 per cent, or some other per cent, and that if a business has one hundred thousand dollars invested in it, the man who made the investment is entitled to charge an interest payment on the money, because, if instead of putting that money into the business he had put it into a savings bank or into certain securities, he could have a certain fixed return. Therefore they say that a proper charge against the operating expenses of a business is the interest on this money. This idea is at the root of many business failures and most service failures. Money is not worth a particular amount. As money it is not worth anything, for it will do nothing of itself. The only use of money is to buy tools to work with or the product of tools. Therefore money is worth what it will help you to produce or buy and no more. If a man thinks that his money will earn 5 per cent, or 6 per cent, he ought to place it where he can get that return, but money placed in a business is not a charge on the business—or, rather, should not be. It ceases to be money and becomes, or should become, an engine of production, and it is therefore worth what it produces—and not a fixed sum according to some scale that has no bearing upon the particular business in which the money has been placed. Any return should come after it has produced, not before.

Like spacecraft that pick up speed as they rise into the Earth’s stratosphere, growth stocks often seem to defy gravity. Let’s look at the trajectories of three of the hottest growth stocks of the 1990s: General Electric, Home Depot, and Sun Microsystems. (See Figure 7-1.) In every year from 1995 through 1999, each grew bigger and more profitable. Revenues doubled at Sun and more than doubled at Home Depot. According to Value Line, GE’s revenues grew 29%; its earnings rose 65%. At Home Depot and Sun, earnings per share roughly tripled. But something else was happening—and it wouldn’t have surprised Graham one bit. The faster these companies grew, the more expensive their stocks became. And when stocks grow faster than companies, investors always end up sorry. As Figure 7-2 shows: A great company is not a great investment if you pay too much for the stock. The more a stock has gone up, the more it seems likely to keep going up. But that instinctive belief is flatly contradicted by a fundamental law of financial physics: The bigger they get, the slower they grow. A $1-billion company can double its sales fairly easily; but where can a $50-billion company turn to find another $50 billion in business? Growth stocks are worth buying when their prices are reasonable, but when their price/earnings ratios go much above 25 or 30 the odds get ugly: Journalist Carol Loomis found that, from 1960 through 1999, only eight of the largest 150 companies on the Fortune 500 list managed to raise their earnings by an annual average of at least 15% for two decades.

Obama’s father had studied in a missionary school and was working as a clerk in Nairobi. He was encouraged to come to America for further study by two missionary women, Helen Roberts and Elizabeth Mooney, who were living at the time in Kenya. In Obama’s Selma narrative, this was made possible by the Kennedy family. “What happened in Selma, Alabama, and Birmingham also, stirred the conscience of the nation. It worried folks in the White House,” he said. “The Kennedys decided we’re going to do an airlift. We’re going to go to Africa and start bringing young Africans over to this country and give them scholarships to study so they can learn what a wonderful country America is. This young man named Barack Obama got one of those tickets and came over to this country.” Soon after that Obama got married and “Barack Obama Jr. was born.... So I’m here because somebody marched. I’m here because you all sacrificed for me.” Except that the Kennedys had nothing to do with Obama’s father coming to America. As Obama’s staff eventually acknowledged, Obama Sr. arrived here in 1959. John F. Kennedy was elected president the following year.1 The two American teachers who had encouraged Obama Sr. to make the trip paid his travel costs and the bulk of his expenses. There was an airlift, organized by the Kenyan labor leader Tom Mboya with financial support from a number of American philanthropists. It brought several dozen African students to America to study, but Barack Obama Sr. did not come on that plane. Rather, he came on his own and enrolled at the University of Hawaii at Manoa.2 Moreover, the march in Selma occurred in March 1965, while Obama Jr. was born in August 1961; Selma had nothing to do with the circumstances of Obama’s birth.

Two nights after the Chaworth ball, Gabriel practiced at the billiards table in the private apartments above Jenner's. The luxurious rooms, which had once been occupied by his parents in the earlier days of their marriage, were now reserved for the convenience of the Challon family. Raphael, one of his younger brothers, usually lived at the club, but at the moment was on an overseas trip to America. He'd gone to source and purchase a large quantity of dressed pine timber on behalf of a Challon-owned railway construction company. American pine, for its toughness and elasticity, was used as transom ties for railways, and it was in high demand now that native British timber was in scarce supply. The club wasn't the same without Raphael's carefree presence, but spending time alone here was better than the well-ordered quietness of his terrace at Queen's Gate. Gabriel relished the comfortably masculine atmosphere, spiced with scents of expensive liquor, pipe smoke, oiled Morocco leather upholstery, and the acrid pungency of green baize cloth. The fragrance never failed to remind him of the occasions in his youth when he had accompanied his father to the club. For years, the duke had gone almost weekly to Jenner's to meet with managers and look over the account ledgers. His wife Evie had inherited it from her father, Ivo Jenner, a former professional boxer. The club was an inexhaustible financial engine, its vast profits having enabled the duke to improve his agricultural estates and properties, and accumulate a sprawling empire of investments. Gaming was against the law, of course, but half of Parliament were members of Jenner's, which had made it virtually exempt from prosecution. Visiting Jenner's with his father had been exciting for a sheltered boy. There had always been new things to see and learn, and the men Gabriel had encountered were very different from the respectable servants and tenants on the estate. The patrons and staff at the club had used coarse language and told bawdy jokes, and taught him card tricks and flourishes. Sometimes Gabriel had perched on a tall stool at a circular hazard table to watch high-stakes play, with his father's arm draped casually across his shoulders. Tucked safely against the duke's side, Gabriel had seen men win or lose entire fortunes in a single night, all on the tumble of dice.

Obama is also directing the U.S. government to invest billions of dollars in solar and wind energy. In addition, he is using bailout leverage to compel the Detroit auto companies to build small, “green” cars, even though no one in the government has investigated whether consumers are interested in buying small, “green” cars—the Obama administration just believes they should. All these measures, Obama recognizes, are expensive. The cap and trade legislation is estimated to impose an $850 billion burden on the private sector; together with other related measures, the environmental tab will exceed $1 trillion. This would undoubtedly impose a significant financial burden on an already-stressed economy. These measures are billed as necessary to combat global warming. Yet no one really knows if the globe is warming significantly or not, and no one really knows if human beings are the cause of the warming or not. For years people went along with Al Gore’s claim that “the earth has a fever,” a claim illustrated by misleading images of glaciers disappearing, oceans swelling, famines arising, and skies darkening. Apocalypse now! Now we know that the main body of data that provided the basis for these claims appears to have been faked. The Climategate scandal showed that scientists associated with the Intergovernmental Panel on Climate Change were quite willing to manipulate and even suppress data that did not conform to their ideological commitment to global warming.3 The fakers insist that even if you discount the fakery, the data still show.... But who’s in the mood to listen to them now? Independent scientists who have reviewed the facts say that average global temperatures have risen by around 1.3 degrees Fahrenheit in the past 100 years. Lots of things could have caused that. Besides, if you project further back, the record shows quite a bit of variation: periods of warming, followed by periods of cooling. There was a Medieval Warm Period around 1000 A.D., and a Little Ice Age that occurred several hundred years later. In the past century, the earth warmed slightly from 1900 to 1940, then cooled slightly until the late 1970s, and has resumed warming slightly since then. How about in the past decade or so? Well, if you count from 1998, the earth has cooled in the past dozen years. But the statistic is misleading, since 1998 was an especially hot year. If you count from 1999, the earth has warmed in the intervening period. This statistic is equally misleading, because 1999 was a cool year. This doesn’t mean that temperature change is in the eye of the beholder. It means, in the words of Roy Spencer, former senior scientist for climate studies at NASA, that “all this temperature variability on a wide range of time scales reveals that just about the only thing constant in climate is change.”4

Psychopaths are social predators who are born without a conscience and without the ability to feel love, compassion, fear or remorse. Psychopaths experience the lack of these abilities and emotions as indication that they are superior, and they consider us nothing more than prey to be hunted to fulfill their own needs. The psychopath considers life a game to be played and "won" at the expense of others. Inflicting harm, whether it be psychological, spiritual, physical or financial, is entertainment to them. Self-gratification is the only thing that motivates them and all that they live for. Psychopaths play their game primarily to fulfill their insatiable desires for power and control.

Is it possible that a new Catholic renaissance has already begun, passing undetected because it arises in unexpected places, by unexpected means? In more than thirty years as a journalist covering Catholicism, I have found that the most exciting signs of vigorous life in the Church often (I am tempted to say always) come from unexpected directions. Official renewal programs, launched by diocesan committees under the guidance of expensive consultants, begin with great fanfare but end with meager results. Meanwhile, far from the limelight, prayerful Catholic individuals, without formal credentials and without financial support, working alone or in small groups, quietly work wonders.

It’s also possible to revise the rules of globalization to reduce the amount of damage done by speculative private finance and to expand the role of transparent social investment. We could provide a lot more debt relief, as well as imposing a Tobin tax (see Chapter 3) on short-term financial transactions. Though the West has less economic influence than it once did, the markets of Europe and North America are still the world’s largest, which gives the West immense power to influence the rules for the global economy as a whole. Those rules were once used to promote balanced domestic social contracts. Lately, they have been used to enrich the already rich, often in concert with the repression of labor in the third world, and at the expense of decent labor standards in the West as well. The point is not that Japan, South Korea, China, and other emergent economies are doing something fundamentally wrong or inefficient by having industrial policies, subsidies, and managed trade strategies to promote their own economic growth. This is precisely what the West did at earlier stages of its own development. The point, rather, is that the system needs more realistic rules and norms, so that there is a fairer balance of benefits. That means balance between developing and developed countries, balance between capital and labor, and balance between market norms and social standards. Today, both the global trading system and US trade policy are promoting imbalance.

These policies would come back to haunt Europe in the aftermath of the 2008 collapse. Instead of the vigorous, countercyclical fiscal, monetary, and debt relief policies called for in the wake of a 1929-scale crash, Europe’s institutions promoted austerity reminiscent of the post–World War I era. The debt and deficit limits of Maastricht precluded strong fiscal stimulus, and the government of Angela Merkel resisted emergency waivers. Germany, an export champion, which in effect had an artificially cheap currency in the euro, profited from other nations’ misery. Germany could prosper by running a large export surplus (equal to almost 10 percent of its GDP), but not all nations can have surpluses. The European Central Bank, which reported to nineteen different national masters that used the euro, had neither the tools nor the mandate available to the US Federal Reserve. The ECB did cut interest rates, but it did not engage in the scale of credit creation pursued by the Fed. The Germans successfully resisted any Europeanizing of the sovereign debt of the EU’s weaker nations, pressing them instead to regain the confidence of capital markets by deflating. Sovereign debt financing by the ECB went mainly to repay private and state creditors, not to rekindle growth. Thus did “fortress Europe,” which advocates and detractors circa 1981 both saw as a kind of social democratic alternative to the liberal capitalism of the Anglo-Saxon nations, replicate the worst aspects of a global system captive to the demands of speculative private capital. The Maastricht constitution not only internalized those norms, but enforced them. The dream of managed capitalism on one continent became a laissez-faire nightmare—not laissez-faire in the sense of no rules, but rather rules structured to serve corporations and banks at the expense of workers and citizens. The fortress became a brig. There was plenty to criticize in the US response to the 2008 collapse—too small a stimulus, too much focus on deficit reduction, too little attention to labor policy, too feeble a financial restructuring—but by 2016, US unemployment had come back down to less than 5 percent. In Europe, it remained stuck at more than 10 percent, with all of the social dynamite produced by persistent joblessness.

There is no denying the lesson these numbers teach us. The future is going to be expensive.

To become financially independent, you need to keep your expenses low, limit or eliminate your liabilities, and, accumulate assets or investments that pay you an income. You must keep your expenses low so that you have enough income to acquire assets or investments on a regular basis. The earlier you start, the sooner you will become financially independent

In order to be financially independent and maintain your financial freedom, you must accumulate assets or investments that pay you passive income that continues to grow and is always greater than your expenses necessary to maintain your lifestyle.

Real wealth is a cash flow generated from your passive investments or assets that exceeds your expenses necessary to support the lifestyle of your choosing.

if you want to maintain your financial freedom, you will need to acquire assets or investments that pay you passive income that continues to grow and is always greater than your expenses to maintain your lifestyle.

Business Owner Planning Business owners have additional and complex Retirement Planning needs. Counting only on the sale of your business requires tremendous luck and success. If business owners consider the business as simply one asset among many, then they should seriously consider additional assets such as: -Executive Bonus Arrangements -Nonqualified deferred compensation plans -Qualified retirement plans -General investment portfolio Motto for Business Owner Planning As I look back on thirteen years of entrepreneurship, I can see that the best and smartest thing to do is to have a plan with the end in mind and you in mind. The time still goes by and time is expensive. That sentence is really a whole book and you should or will understand sooner than later, hopefully. That would have looked like business succession planning. Proper business succession planning requires sound preparation in order to have a smooth and equitable transition. Financial, tax and legal planning are all necessary for a success.

Zero Line Spender, Saver, Wealth Creator Your financial personality type determines your financial position in life. Let’s say there is a zero financial line that represents a position where you owe nothing and have nothing. Perhaps you can remember those days getting started on your own. So, let us assume you just graduated from college and you’re one of the lucky few who graduated at the zero line, you owe nothing. Pretty amazing considering that in 2013, the debt on student loans exceeded all credit card debt owed in America. But fortunately, you made it out free and clear to the zero line. You’re a “Spender” so you go to the showroom and pick one out. With your job and the car as collateral, you get a car loan and you drop below the zero line. You lifestyle gets more and more expensive and since you are a ‘Spender” you probably take on credit card debt to help finance your lifestyle desires. You are constantly working your way back to becoming a zero, financially speaking. Then, you get married and now there are two in debt working their way back to zero. Eventually, children come along, and the odds of being able to put away enough money to pay your debt and interest and live on the top side of the zero line are becoming virtually impossible. Unfortunately, many Americans live in this position with little or no chance of ever living debt free. When something comes along that requires their savings, they must deplete their funds in order to avoid paying interest and then they must start saving again for their next expense. They are constantly returning to the zero line. The money they have accumulated is compounding interest, giving them uninterrupted growth. Having access to capital allows them to negotiate more favorable loans by collateralizing against their accounts rather than depleting them. They make payments to the lending institution with dollars from their current cash flow, protecting the growth of the money they have saved and invested for their future. Saving and investing with uninterrupted compounding is an important wealth concept for moving further and further away from the zero line.

Economics is a notoriously complicated subject. To make things easier, let’s imagine a simple example. Samuel Greedy, a shrewd financier, founds a bank in El Dorado, California. A. A. Stone, an up-and-coming contractor in El Dorado, finishes his first big job, receiving payment in cash to the tune of $1 million. He deposits this sum in Mr Greedy’s bank. The bank now has $1 million in capital. In the meantime, Jane McDoughnut, an experienced but impecunious El Dorado chef, thinks she sees a business opportunity – there’s no really good bakery in her part of town. But she doesn’t have enough money of her own to buy a proper facility complete with industrial ovens, sinks, knives and pots. She goes to the bank, presents her business plan to Greedy, and persuades him that it’s a worthwhile investment. He issues her a $1 million loan, by crediting her account in the bank with that sum. McDoughnut now hires Stone, the contractor, to build and furnish her bakery. His price is $1,000,000. When she pays him, with a cheque drawn on her account, Stone deposits it in his account in the Greedy bank. So how much money does Stone have in his bank account? Right, $2 million. How much money, cash, is actually located in the bank’s safe? Yes, $1 million. It doesn’t stop there. As contractors are wont to do, two months into the job Stone informs McDoughnut that, due to unforeseen problems and expenses, the bill for constructing the bakery will actually be $2 million. Mrs McDoughnut is not pleased, but she can hardly stop the job in the middle. So she pays another visit to the bank, convinces Mr Greedy to give her an additional loan, and he puts another $1 million in her account. She transfers the money to the contractor’s account. How much money does Stone have in his account now? He’s got $3 million. But how much money is actually sitting in the bank? Still just $1 million. In fact, the same $1 million that’s been in the bank all along. Current US banking law permits the bank to repeat this exercise seven more times. The contractor would eventually have $10 million in his account, even though the bank still has but $1 million in its vaults. Banks are allowed to loan $10 for every dollar they actually possess, which means that 90 per cent of all the money in our bank accounts is not covered by actual coins and notes.2 If all of the account holders at Barclays Bank suddenly demand their money, Barclays will promptly collapse (unless the government steps in to save it). The same is true of Lloyds, Deutsche Bank, Citibank, and all other banks in the world. It sounds like a giant Ponzi scheme, doesn’t it? But if it’s a fraud, then the entire modern economy is a fraud. The fact is, it’s not a deception, but rather a tribute to the amazing abilities of the human imagination. What enables banks – and the entire economy – to survive and flourish is our trust in the future. This trust is the sole backing for most of the money in the world.

Once you are debt-free except for your mortgage, bump your starter emergency fund up to three to six months' worth of expenses. That will be your fully funded emergency fund.

Keep expenses low, reduce liabilities, and diligently build a base of solid assets. For young people who have not yet left home, it is important for parents to teach them the difference between an asset and a liability. Get them to start building a solid asset column before they leave home, get married, buy a house, have kids, and get stuck in a risky financial position, clinging to a job, and buying everything on credit. I see so many young couples who get married and trap themselves into a lifestyle that will not let them get out of debt for most of their working years.

People who sell their house on their own must not value their time much. Why would I want to save a few bucks when I could use that time to make more money or spend it with those I love? What I find funny is that so many poor and middle-class people insist on tipping restaurant help 15 to 20 percent, even for bad service, but complain about paying a broker three to seven percent. They enjoy tipping people in the expense column and stiffing people in the asset column. That is not financially intelligent.

The 8 Basic Headers Work Family & Kids Spouse Health & Fitness Home Money Recreation & Hobbies Prospects for the Future Work The Boss Time Management Compensation Level of interest Co-workers Chances of promotion My Job Description Subordinates Family Relationship with spouse Relationship with children Relationship with extended family Home, chores and responsibilities Recreation & hobbies Money, expenses and allowances Lifestyle and standard of living Future planes and arrangements Spouse Communication type and intensity Level of independence Sharing each other's passions Division of roles and responsibilities Our time together Our planes for our future Decision making Love & Passion Health & Fitness General health Level of fitness Healthy lifestyle Stress factors Self awareness Self improvement Level of expense on health & fitness Planning and preparing for the rest of my life Home Comfort Suitability for needs Location Community and municipal services Proximity and quality of support/activity centers (i.e. school. Medical aid etc) Rent/Mortgage Repair / renovation Emotional atmosphere Money Income from work Passive income Savings and pension funds Monthly expenses Special expenses Ability to take advantage of opportunities / fulfill dreams Financial security / resilience Financial IQ / Understanding / Independent decision making Social, Recreation & Hobbies Free time Friends and social activity Level & quality of social ties Level of spending on S, R&H Culture events (i.e. theater, fairs etc) Space & accessories required Development over time Number of interests Prospect for the future Type of occupation Ratio of work to free time Promotion & Business development (for entrepreneurs) Health & Fitness Relationships Family and Home Financial security Fulfillment of vision / dreams  Creating Lenses with Excel If you wish to use Excel radar diagrams to simulate lenses, follow these steps: Open a new Excel spreadsheet.

Paul Cuffee, born in 1759, was a free, able and resourceful Quaker businessman of African and American Indian descent. Although he was black himself, Cuffee became a ship’s captain and built a lucrative shipping empire. Becoming a prosperous merchant he had the money to carry out his various philanthropically ventures. In 1815 he also established the first racially integrated school in the United States, locating it in Westport, Massachusetts. The following year he advocated settling freed American slaves back to the West Coast of Africa. At first he found little support from the young American government but being aware of a British colony founded in Freetown, Sierra Leone a British colony he looked for support for his venture from the British government. Although they didn’t support him financially, they did allow him to bring in the freed former slaves. As he became better known as a crusader for this purpose, free black leaders and some members of United States Congress joined him and embraced his plan to take emigrants to Sierra Leone. At the start Cuffee intended to make only one voyage per year, taking settlers and off set his expenses by bringing back nonperishable valuable cargoes such as hand crafted items and furniture quality hard woods. In 1816, at his own expense, Captain Cuffee took thirty-eight American freed blacks, from Boston to Sierra Leone, which was still the only colony that existed for this purpose in West Africa.

the one with the lower rate. A few unique things to see in Stockholm include the Nobelmuseet, the Nobel Museum, which tells of the creation of the Nobel Prize and the creativity of its laureates, and the Spiritmuseet, where you can learn about the nation’s complicated relationship with alcohol. Sweden is associated with design (and not just Ikea) and many shops sell Swedish‐only design. Oudoor activities in summer include hiking trails through the islands and archipelago. Winter activities stretch to cross‐country skiing, ice skating and snow hiking. Nightlife is expensive, cover charges to bars can be high and, bizarrely, the minimum age for drinking varies in an arbitrary fashion as it is up to each establishment to make its own decision – it can be anything from 17 to 27. So take identification with you. There are two airports serving Stockholm. Arlanda is 40 kms north of the city and serves main airlines. Skavsta, 100 kms to the south, serves the budget airlines. Both airports have coaches to take visitors directly to the city centre. Downside: Many independently owned restaurants and cafes close for holidays between July and August which can limit the range of places to eat. To read: The Girl with the Dragon Tattoo by Stieg Larsson. This trilogy of a financial journalist and the tattooed genius with a motive to fight the dark right‐wing forces of Swedish society romped through the bestseller lists.

Probably the most expensive piece of equipment is the Bloomberg terminal, a desktop computer that brings financial types a wealth of up-to-date facts and figures. People swear by it and thanks to their cost (thousands of dollars a month!) they make great status symbols.

The only thing that we know about financial predictions of startups is that 100 percent of them are wrong. If you can predict the future accurately, we have a few suggestions for other things you could be doing besides starting a risky early stage company. Furthermore, the earlier stage the startup, the less accurate any predications will be. While we know you can't predict your revenue with any degree of accuracy (although we are always very pleased in that rare case where revenue starts earlier and grows faster than expected), the expense side of your financial plan is very instructive as to how you think about the business. You can't predict your revenue with any level of precision, but you should be able to manage your expenses exactly to plan. Your financials will mean different things to different investors. In our case, we focus on two things: (1) the assumptions underlying the revenue forecast (which we don't need a spreadsheet for—we'd rather just talk about them) and (2) the monthly burn rate or cash consumption of the business. Since your revenue forecast will be wrong, your cash flow forecast will be wrong. However, if you are an effective manager, you'll know how to budget for this by focusing on lagging your increase in cash spend behind your expected growth in revenue.

How Much Money Can We Afford To Give To Charity? Knowing how much money you can safely give to charity is challenging for everyone. Who doesn’t want to give more to make the world a better place? On the other hand, no one wants to become a charity case as a result of giving too much to charity. On average, Americans who itemize their deductions donate about three or four percent of their income to charity. About 20% give more than 10% of their income to charity. Here are some tips to help you find the right level of donations for your family: You can probably give more than you think. Focus on one, two or maybe three causes rather than scattering money here and there. Volunteer your time toward your cause, too. The money you give shouldn’t be the money you’d save for college or retirement. You can organize your personal finances to empower you to give more. Eliminating debt will enable you to give much more. The interest you may be paying is eating into every good and noble thing you’d like to do. You can cut expenses significantly over time by driving your cars for a longer period of time; buying cars—the transaction itself—is expensive. Stay in your home longer. By staying in your home for a very long time, your mortgage payment will slowly shrink (in economic terms)with inflation, allowing you more flexibility over time to donate to charity. Make your donations a priority. If you only give what is left, you won’t be giving much. Make your donations first, then contribute to savings and, finally, spend what is left. Set a goal for contributing to charity, perhaps as a percentage of your income. Measure your financial progress in all areas, including giving to charity. Leverage your contributions by motivating others to give. Get the whole family involved in your cause. Let the kids donate their time and money, too. Get your extended family involved. Get the neighbors involved. You will have setbacks. Don’t be discouraged by setbacks. Think long term. Everything counts. One can of soup donated to a food bank may feed a hungry family. Little things add up. One can of soup every week for years will feed many hungry families. Don’t be ashamed to give a little. Everyone can do something. When you can’t give money, give time. Be patient. You are making a difference. Don’t give up on feeding hungry people because there will always be hungry people; the ones you feed will be glad you didn’t give up. Set your ego aside. You can do more when you’re not worried about who gets the credit. Giving money to charity is a deeply personal thing that brings joy both to the families who give and to the families who receive. Everyone has a chance to do both in life. There Are Opportunities To Volunteer Everywhere If you and your family would like to find ways to volunteer but aren’t sure where and how, the answer is just a Google search away. There may be no better family activity than serving others together. When you can’t volunteer as a team, remember you set an example for your children whenever you serve. Leverage your skills, talents and training to do the most good. Here are some ideas to get you started either as a family or individually: Teach seniors, the disabled, or children about your favorite family hobbies.