"Every Day is a Bonus" - Stars and Stripes Honor Flight

by Ry@SpillingBuckets | Thursday, November 12, 2009 in |

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I stumbled upon this video featuring veterans who were flown to visit the National WWII Memorial in Washington D.C. courtesy of a terrific organization in Wisconsin called Stars and Stripes Honor Flight.

Honor Flight is an organization that provides World War II vets and terminally ill patients from other conflicts free travel to Washington, D.C. to tour memorials.





Excerpt from their description:
"Every day is a bonus," is the motto of Honor Flight and it's a sentiment that rings true for the men who fought and those of us who continue to benefit from their service and sacrifice.

I was really touched reading the good that this organization does and reminded of how lucky we are for those who stand up and do brave and important things for the rest of us.

The National WWII Memorial opened to the public on April 29th, 2004 and is dedicated to the 16 million people who served, the more than 400,000 who died, and to all those who served from home.

From the photos it looks absolutely amazing, truly a solemn place. I have added seeing this and other important memorials to our list of goals. I have also made a small donation to the Stars and Stripes Honor Flight on behalf of all our readers to help them continue to show vets just how much we appreciate their service.



Have You Written Your Fiscal Haiku Yet?

by Ry@SpillingBuckets | Wednesday, November 11, 2009 in |

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The smart people in charge over at the Peter G. Peterson Foundation, whose mission it is to bring Americans together to find sensible, sustainable solutions that transcend age, party lines and ideological divides in order to achieve real results, have just created a fun way to express our frustration at continued non-solutions in government. Or at least that's my standpoint...

It's Called Fiscal Haiku.

Here is the one I submitted:

leaders tax and spend
no deficits they pretend
give future away

Message: It’s important that we talk about finances — whether they're our own or our government's. The new website, FiscalHaiku.com, showcases citizens’ creative opinions on our nation's and our personal economic situations. Whether you're concerned about the increase in foreign debt, foreclosures, or your own retirement, Fiscal Haiku is a place to share and express your thoughts on our monetary struggles.

Read, rate, and submit a Fiscal Haiku today.

Here are some of my favorites:

unsustainable
It is definitely clear
The fatal cliff near

Entrepreneurs
hold the KEY to our Future
economic growth

Those who have power
have little regard for us
til last voting hour!

Become the answer
Not the problem we all face
Get off of your butt

I'm not represented
By those who have been presented
To govern us all

national defense
without long-term solvency
equals defenseless

Remember 5, 7, 5. What ones did you submit?

Guide to Designing an Emergency Fund: What is Your Financial Philosophy?

by SpillingBuckets | Tuesday, November 10, 2009 in |

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If you follow just about any "general public" financial guru, you know that they devote significant air time or book pages on just how important it is to have an emergency fund consisting of cash reserves.

On the flip side, more "advanced financial experts" and some wealthy individuals approach emergencies in unique ways, lumping in access to emergency cash via short term debt instruments like HELOCs or credit cards (as to keep maximum amount of money fully invested).

So what is the correct way to plan for financial emergencies? Where is the best place to keep emergency cash? Is debt the best option in an emergency, or an option at all? How do I minimize taxes? How much do I need?

You can probably guess that there is no one right answer. Each individual or family has specific needs and specific philosophies, but there is a wrong answer: not planning at all.

To help organize our thoughts and to learn about the different ways to approach financial hiccups, Lez and I have written a series of posts on the topic. Here is our first discussion:

How does one create a plan that is right for them?
It starts with a few questions.

1. What is your financial philosophy?

"If a man is proud of his wealth, he should not be praised until it is known how he employs it." ~ Socrates


I'm not asking whether or not money exists; or if a firm is bailed out, does that automatically mean it shouldn't be able to reward employees for good performance?
I am talking about your aversion towards debt.

Obviously proper levels and forms of insurance play a large part in risk reduction, but eventually expensive problems will occur. This is where the question comes in: If you have the luxury of time before an emergency, how do you approach your financial preparations?

The reason we ask this question is because an emergency is just that, an emergency, something that hopefully doesn't happen often.

Many people have access to one form of debt or another if they need to pay for something large and unexpected. It's hard to fathom for some of us, but don't forget debt is normal, and if managed wisely debt can be used as a tool. It doesn't mean you have to like it.

Saved cash in a "safe" investment form is money that is not being risked in an effort to earn more money. Some might say this is exactly the point, but this balance often hinges on your philosophy.


Have an opinion? let us know in the comment section....

Next post we will talk about how much to have on hand, if savings is the right choice for you?

Build a Casino or Raise Taxes? Which Do You Prefer?

by Ry@SpillingBuckets | Thursday, November 05, 2009 in |

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When will we ever learn? Read this headline:

Voters reject spending limits, OK Ohio casinos
CHICAGO (Reuters) - Voters in the states of Maine and Washington on Tuesday rejected measures to limit spending, while Ohio's ailing economy swayed residents to approve casino gambling.

Since you are smarter than me, you may have only needed to reread that once.


Here is a little more about the measures:

Ohio voters, after turning down casinos in previous elections, changed their minds as the state struggles with sinking revenue due to the economic recession. The measure, which passed with nearly 53 percent of the vote, allows casinos in Cincinnati, Cleveland, Columbus and Toledo.


After rejecting casino propositions 4 times in the last 19 years, Ohio voters, so weary from economic boom times, so tired of saving and investing their money reaped from decades of 100% full employment at wages 15x the national average, decide to allow casinos in four cities.... Ok, maybe I misread that last part, but...

Just listen to this response from friendly neighbor Kentucky. Do you smell some kind of gambling arms race? When will it stop?:

Local legislators say approval of casinos in Ohio will make the issue more urgent in Kentucky during the 2010 legislative session.

“I’m glad for Ohio and sorry for Kentucky,” said Rep. Carl Rollins, D-Midway. “We should have done it first. This just puts us further in the hole.”

Sen. Julian Carroll, D-Frankfort, said he “detests gaming as a source of revenue,” but it’s the only option besides raising taxes.






Are spending cuts an option?? It's common sense that state and federal revenues decline when the economy contracts, but why can't we continue the logic and design matching amounts of shrinkage to coincide with these declines? Why do tax hikes and casino building come about instead? Can we really just keep taking the easy road?

To quote Ned D, a commenter on the original story from the Marketplace Scratch Pad:

Gambling has the same effect on a local economy as taxes. It draws money away from productive businesses. The de-capitalization of local businesses reduces innovation, while producing nothing of added value, once the honeymoon period is over.



The job creation brought about by casino construction and subsequent staffing would be significant (34,000 jobs, bringing $200 million in licensing fees and generating an estimated $651 million annually in revenue for Ohio and its local governments and school districts. ) The revitalization of blighted areas would also come about....



Is it sustainable? Don't get me wrong, casinos can be viewed as entertainment, expensive entertainment, but aren't they just swapping a boring drain on a community (tax) with one that is seductive and addictive (gambling losses)?





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