Pat

December 2009 Newsletter

IMG_0697a_thumb.jpeglogan.jpegWell, we're at the end of yet another year. As our parents always told us, time speeds up as you get older. I still think things that happened three years ago happened only a few months ago. It's been a while, since we have sent out an official newsletter/update, so it's about time. (This newsletter will only cover 2009, but I'll go back and retroactively add in some past newsletters later.)

Family Stuff

God has continued to bless us this past year with our continued health, steady jobs, good friends, our loyal doggy...and we're having a baby!!!!! Jen is seven months pregnant with our firstborn who we're told will be a boy. His tentative name is Logan Matthew Heyman. Jen's due date is March 24. We have a wishlist/registry available if you would like to contribute to the welfare of a minor.

Financial Goals

Begin with the end in mind

When we speak of financial planning, what we usually mean is saving and investing money for the future. What this means is that you have not consumed everything that you have produced (the opposite of credit, which is consuming more than you have produced). There is only one reason not to consume everything you produce today (i.e. spend all your money). That something is uncertainty.

Budgeting

The first step in getting your finances in order is a budget. It is absolutely impossible to have sound finances and investments if you are spending more than you earn. For this page, we will assume that you have already done that. Once the only debt you owe is your house (and maybe school loans), should you begin investing.

Step 1: Identify your expenses

Financial Resources

The Financial Resources are broken up into

  • Budgeting
  • Debt Elimination
  • Basic Investing
  • Financial Companies

Economics Resources

Economics is the "science" of explaining human actions, or how humans act to satisfy their wants given limited resources. Most people have little or no economic education. A famous economics professor said that for years, he had to spend most of his time refuting economic fallacies, but nowadays, he has teach his student the fallacies so that he can refute them.

Super Duper, Ultra Complicated Economic Topics

Okay, they're really not. They are simply a logical progression of earlier concepts. You might want to review all the previous concepts, because a firm grasp on them will help during the next section.

Inflated egos

Basic Principles of Economics

These principles are generally agreed upon by most contemporary schools of economic thought, but they are presented here as elaborated by the Austrian School of Economics.

People are rational.

Economics and Finance for Nurses (and other sundry folk)

Finances is half self control, mixed with one part economics, one part politics, two parts current events, and seasoned with math. This "book" ties together various finance and economic resources. This first page gives a brief overview of each one and links to further reading and resources.

Self Control

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