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Archive for February, 2008

The Stimulus Scam

February 20th, 2008 at 02:16 am

Congress recently approved the “economic stimulus package,” which will provide every single tax filer with adjusted gross income (AGI) of $75,000 or less with $600 and every joint filer with AGI under $150,000 with $1,200. If you have dependent children, you get an additional $300 for each dependent child.

The reason for this program is to get us to spend the funds to help “revive” the US economy. From my perspective, the long term results of this program will not revive the economy, but will serve to put our country deeper in debt.

As one pundit has stated, this should be called the China economic stimulus package. Much of the $150 Billion of additional long term debt that this “stimulus” provides will likely be purchased by the Chinese or other foreign entities. Thus, additional government resources (which come from you and me) will be required to service this debt.

As an added benefit to China, if the money received is spent at WalMart, Target or other large retailer, it will be used to purchase goods that are manufactured in China, increasing our trade deficit. Some “economic stimulus” this program turns out to be.

OK- so our elected officials are scamming us in order to “buy” more votes – what else is new? However, we can take this lemon and make it more palatable.

Here is what you might consider doing. If you have any credit card debt, use the funds that you will receive to pay it off. If you already pay off your credit card in full each month, take the money and use it to pay down some of your mortgage or put it in one of your savings accounts. In 20 years, the $1,200 will be worth over $6,000, if your investments return 8% annually.

We can never keep our elected officials from doing things harmful to our economy, but we can minimize the damage that they do. I hope you will use this “stimulus” to increase your financial abundance.

Step 7 - Have Faith in Continued Abundance

February 9th, 2008 at 11:41 pm

Faith is defined as a belief that is not based on proof. While we can never have absolute proof of continued financial abundance, by following the 7 Steps to Financial Abundance, we can begin to believe that through our continued commitment to control our finances, our abundance will continue. Our faith in continued abundance is important in conquering the fear of scarcity.

Fear is defined as a distressing emotion, aroused by impending danger, whether the threat is real or imagined. Without faith that abundance will continue, doubts and fears of the unknown and uncontrollable future can become overwhelming. Even though the fear of scarcity may be irrational, it can consume us and leave us unable to live with a sense of abundance.

Living in financial abundance requires controlling consumer-driven consumption, maximizing and protecting financial resources and faith that abundance will continue. By implementing the first six steps, you have done everything in your power to control your financial abundance. The final step, having faith that abundance will continue, is sometimes the hardest step. However, without this faith, fear and doubt can control our financial lives.

The Seven Steps to Financial Abundance are designed to allow you to take control of your financial future. I authored Financial Abundance Guide to provide an easy to understand “guide” for non-financial people to explore their path to financial abundance. You can learn more about my approach to financial abundance at

Text is www.finabguide.com and Link is

Once you escape the fear of scarcity, you may find true serenity. When living in financial abundance, you may even decide to share more of your abundance with your favorite charitable organizations.

Step 6 - Control Your Personal Finances

February 5th, 2008 at 12:43 am

The stock market, tax codes, the economy and negative world events are outside of our control. Too often, the things that we cannot control increase our fear of financial scarcity. When this occurs, it is can be comforting to remember the serenity prayer.

To achieve serenity, we are encouraged to accept the things we cannot change and have the courage to change the things we can. We can control our consumer based spending habits, our prioritization of saving for our family’s future and our decision to plan for our financial well-being. By changing old habits that lead to the fear of scarcity and implementing the practices of the first 5 steps, we are doing everything in our power to control our finances.

With this control, we have significant power over personal finances. Once this power is recognized, the fear of scarcity is diminished and a feeling of financial security begins to permeate our lives, leading us toward financial abundance.