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IN THIS ISSUE: 

Personal Money Planning's Newsletter
July 5, 2014
Gary Silverman, CFP 

Wichita Falls received some much needed rain this week. For that, we are grateful. Here's hoping it continues.

This week, I share more of the Money Diet Blog, along with the Texas economic update. 

Have a great week!

Gary Silverman, CFP®

Soapbox
Gary's Soapbox
Michelle's Blog
 
Instead of hearing from me this week, I thought it would be nice to re-visit my colleague, Michelle Kuehner's, blog. Enjoy.  
--Gary
 
"Charge it!" not always bad

Over the past few months we've looked at ways to save money for retirement, emergency funds, and paying down debt. I'm sure by now most of us would agree that having no debt at all would be the optimal experience, right? That's not always the case. No, the summer heat and lack of rain hasn't thrown me for a loop... Let's take a look at what I'm talking about.

My grandpa, or "papa" as we referred to him, was a very smart, and very frugal man. Even a bit more frugal than me if that's even possible. He despised "owing" anyone money, and often paid cash for items he purchased. He was able to do so by using one simple theory...not purchasing anything he couldn't afford, or for that matter "needed". Those are the key words here: afford and need.

While I "needed" the Michael Kors large travel tote I purchased this past weekend in San Antonio while visiting my mom, which I got for a heck of a deal, I didn't truly need it. However, I could afford it by not frequently splurging on unnecessary items. So as I walked to the register, carefully cradling my new gorgeous find, I did what anyone not planning on making a sizable purchase would do...I threw the plastic out onto the counter. Now before you call me a complete hypocrite, let me explain my "why". Read more here...
Articles
Gary's Latest Articles
From the Times Record News
What is wrong with my industry?

Over the last few weeks, Gary has shared a series of articles designed to help you know how to pick out the "bad apples" in the investment world before you do business with them. Take some time to read through these articles to find out why the problems exist and a few things you can do to avoid unnecessary trouble.
Money101
Money 101:
Texas Employment Overview
In the first of a new video series, Dallas Fed senior vice president and director of research Mine K. Yucel outlines the current employment situation in Texas and provides a job growth forecast for 2014.
Texas Economic Update: June 2014
Texas Economic Update: June 2014

Final Thoughts
Happy Independence Day Weekend! 

Did you know that the holiday we celebrated yesterday has been a federal holiday since the 1940s, but the tradition goes back to the 18th century? There are a few other little tidbits about the 4th of July on the History channel website, if you would like to learn more. Click here...


--Gary
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