Clinton Expected To Conceede To Obama Today

Sen. Barack Obama stood within 40 delegates of claiming the Democratic Party's presidential nomination this morning - counting down a clock that will start ticking more quickly with the close of the party's primary elections today.
- The Swamp

It is being reported today, that tonights speech by Clinton, could in fact, call Barack Obama the presumptive nominee. While she won't end her campaign, she could fall in line and stop the contentious campaigning that has tore the Democratic party apart over the past few months.

Terry McAuliffe, chairman of Sen. Hillary Clinton's campaign, said today that once Obama claims the majority of convention delegates neded for the 2008 nomination: "I think Hillary Clinton will congratulate him and call him the nominee."

This could happen by the end of this day, depending on the dance of the remaining uncommitted superdelegates. The party's insiders were lining up behind the junior senator from Illinois at a pace that could seal the nomination once results from the primaries in Montana and South Dakota arrive - if not sooner.
- The Swamp

Clinton's campaign chairman, Terry McAuliffe, says once Obama gets the majority of convention delegates, he thinks Clinton will congratulate him and call him the nominee.
- WREX-TV

Earlier Tuesday, Clinton's campaign manager said once her rival secures the necessary number of convention delegates, she would likely "call him the nominee."
- USA Today

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And that's my view, what's yours?




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Readers Question: 5 best personal finance books

Anonymous wanted to know,

What are your 5 best personal finance book?

Since, anonymous didn't leave a name, website or anyway to contact them, they couldn't win the workbook, but I thought the question was worth discussing.
In fact, the question was perhaps a result of a post that Saving Advice, recently did:
Books For Every Level of Financial Acumen. Jennifer Derrick listed 21 books for every level of financial knowledge.

With that in mind, I’ve put together my list of the best books for every level of financial knowledge. None of these are too obscure or old, so your local or college library is likely to have them or be able to get them through interlibrary loan. Failing that, you can probably find some of them at used bookstores. They’re also all available through Amazon.com, and some used copies are available from other sellers.

Some of her books, without question, would be in my top 5. However, are all of them? Well, lets take a look at the books I would list as my Top 5.

5. Miserly Moms: Living on One Income in a Two Income Economy by Jonni McCoy.

One of the earliest personal-finance books that I read. This is a book that didn't make it on Jennifer's list. However, it is a book well worth the reading. Especially, if you want to learn to more frugal, so that you can learn to make do on less.

4. Good Debt, Bad debt: Knowing the Difference Can Save Your Financial Life by Jon Hanson.

Another book, not Jennifer's list, but a book that I reviewed last year on this blog.
I am a loyal Dave Ramsey fan, who says that there is no such thing as "good debt." Still though, I have heard Dave say that if you do get a mortgage it is to be for 15-years or less. So with that in my mind I wanted to find out what Mr. Hanson called "good debt." As he sees it, "good debt" is debt that eventually increases your net worth.

3. The World's Easiest Guide to Finances by Larry Burkett.

Another book, that was one of the earliest books that I read. Although much more recently. I got this book, when I was on a spree of buying business/finance books on Ebay. It is obvious that it would be a book for the financial novice. I simply talks about Debt Reduction, Budgets, Insurance, Retirement, Investment and virtually all aspects of personal finance.

2. You’re Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead, by Larry Winget.

I thoroughly enjoyed this book. Understandably, Jennifer lists this book as one for the financial novice. It is simple to understand, and is straight talking.

. Larry is very no nonsense and a master of tough love. This book is a basic introduction to getting out of debt, but it will tear down every excuse you can think of and show you that it’s your choices that are making you broke. Warning: He is harsh (but funny), so if you get upset about that, maybe you should pass on this one.

1. The Total Money Makeover: A Proven Plan for Financial Fitness, by Dave Ramsey.

This is a book that Jennifer listed as a book for the financial novice.

I don’t always agree 100% with what Dave teaches, but there’s no denying that he is a great motivator and this book will get you fired up about getting out of debt and establishing a financial plan.

Not only will his books get you fired up, but so will his Live Events as well as his CD's and DVD's. There is no question, that This book is the number 1 personal finance book in my financial library.

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Spending: Getting Started to Make Corn Dogs

Sunday, before I left work I spent 17.24, plus $20 cash back. Most of the items were stuff to make my homemade corn dogs. I ended up making 24 corn dogs for $3.69 (.26 for the skewers), not including the oil. The oil is a little harder to figure. Because it can be used over and cook a lot more then the 24, that I cooked. The oil cost would be about $2.33, however that goes even lower, as I cook more corn dogs.

Eggs 1.35 (.22)

Milk 2.89 (.16)

Vegetable Oil 6.99 ($2.33)

Tongs .71

Paper Baking Cups .95

2 pkgs Always Save Wieners @.78 (1.87)

Jiffy Corn Muffin Mix .59 (1.18)
Tax 1.20
Total 17.24
Prices in () are prices to make up the jiffy corn muffin mix and corn dogs.


Monday (yesterday), I went by the store and bought 2 pkgs of paper towels. Total cost after tax was $2.15 cash. Before, making the corn dogs (and after leaving the store), I went to Perry, KS to visit an old friend. A friend that I haven't seen for several years.



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The Risky Side of Investing- Is it Worth it to You?

The following article is a guest post. The opinions of guest writers are their own and not necessarily those of the owner of this blog.
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The Risky Side of Investing- Is it Worth it to You?


No matter how you look at it, there is a lot of risk involved with investing of any kind. On the other hand, investing also brings with it the opportunity for reward. To decide if the risk is worth it to you or not you need to understand the unique relationship that exists between the two elements.



What is the Risk All About?



When it comes to the risk inherent in investing, there is a rule of thumb that states, “The higher the risk, the higher the potential return.” That is all fine and good but an additional point needs to be added to make this statement even more accurate. Instead the statement should read, “The higher the risk, the higher the potential return, and the less likely it will achieve the higher return.”



Deciding what you can comfortably live with in the world of investing is paramount. You need to be able to balance out the risk you are taking with the possible reward that could result.




Loss of Money



Many people look at investing in terms of the likelihood that they will lose money. When contemplating an investment, you need to decide if keeping the principal of your money is more important than the possibility of higher returns. You also need to ask yourself if you will be able to achieve your investment goals. If you lose instead of gain you do not want to shortchange yourself on your retirement fund. You also need to ask yourself if the added risk is worth it in order to achieve higher returns? Some people are more comfortable with risk exposure than others. There are investments that carry a minimum of risk; however the opportunity for return is often minimal as well.



Financial Goals



In order to understand whether you stand a chance of achieving your financial goals or not you need to consider the amount of money you have invested; the length of time invested; the rate of growth or return; and the fees, inflation and taxes that will cut into your return. If you are not willing to take on much risk then you must bear in mind that the return you earn will be less. In order to compensate for the lower anticipated return you should increase the money that you invest as well as the duration of time you invest it for.

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The opinions of guest writers are their own and not necessarily those of the owner of this blog.

Another Giveaway - Ask Me Anything 2

Like the last giveaway, that we just completed. I am giving away another workbook. This one, I also was given, specifically for passing on to my readers. The Financial Planning Workbook, by (the late) Larry Burkett.

There are some simple rules.

Like last time the entry will be made by comment to this post.

The comment MUST contain a question relating to personal finance.

The comment must have some way I can contact you. Or some way, that you will know that you are the winner. Whether, it be your blog or email.

Only one entry per giveaway.

There you have it. So what are you waiting for? The drawing will be on Flag Day, June 14th. All questions asked, as last time will be answered. However, the winner will have their question asked first.

I would like to have the "Readers Question" become a regular feature of this blog. There will be one more (planned) giveaway after this one. That drawing will be for the book Learning to Invest (2nd Edition) by Beatson Wallace.

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Readers Question: What are your Plans...?

mzmuny asked,

What are your plans once you are out of debt?

Thanks for the question, MzMuny. So glad your asked.

Once I am able to successfully pay off all my debts, my plans are to begin building my savings. I wish to have at least $5,000 in every savings account (budget envelope).

Currently, I only have $5-$100ish in each of those savings accounts.

Food (Groceries) $5

Emergency (Insurance) Fund $100

Travel (Vacation) $15

Household $5 (after insurance payment is made)

Auto $5

Taxes $5

Something Special Fund $0

Gift Fund (Christmas, Birthday, Weddings, etc) $5

Travel

One of my biggest dreams is to make it to New York City and see the Statue of Liberty and the Empire State building. I wish to make it back to D. C. so I can see Monticello, Williamsburg, and the hometown of my Great, Great Grandfather, who came to this country as a mercenary. Was captured by Americans and was a POW often times under George Washington, and then as many of the "Hessian Soldiers," served a time as a slave to earn his freedom and stay in America. That hometown, after his death became part of WV. There he became a cabinet maker as well as made Whiskey. His furniture, worth thousands of dollars are on display in the Lewisberg, WV museum and his name is mentioned as part of the towns walking tour.

However, my dream doesn't stop there. I also want to go back to Europe and see a number of spots I haven't yet been able to go to. Like Germany, France, England, Ireland and Northern Ireland. Finally, and probably one of the biggest travel dreams is to visit every single Presidential Library/Museum. I have been to the Carter near Atlanta and Eisenhower in Abilene, KS. Amazing as it sounds, I have yet to visit the Truman in Independence, MO (a suburb of Kansas City, MO) , especially considering how close I live to it.

Missions

However, I don't just want to travel, I also want to do mission work. I would like to travel to help people also. To take God's good news to others, while also offering humanitarian relief in places that need it.


Over all, I don't want to be rich so people can see "how rich I am," rather I want to help others with their struggles. I am reminded of a recent verse I read, Proverbs 13:7

One man pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth.

How true that is. If a person looks rich, they are probably just someone trying to impress you. The real rich person, usually doesn't want to flash it around. There is a reason, King Solomon is regarded as the wisest man to ever live.

Business

Of course, I have mentioned before, I want to be a businessman. I want to owner a conglomerate of business' or be an investor in several business'. Thus earning more money. In fact, perhaps investing would be better, so that while I am earning the money, I can be off volunteering for humanitarian efforts.

So there, in a nut shell you have it. What I want to do when I become DebtFree4ever!
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Spending: Stupidity and Pre-Planed Cooking Collide

Yesterday, I spent about $10. Way more then I planned, but I have to be honest with my readers about it to.
I bought a package of orange slices. The candy not real oranges. I know they are unhealthy, but I had a real taste for them, yesterday. I also bought for breakfast one of McDonald's chicken biskits. I wanted to see if they were as good as Chick-fil-a's. They weren't! I am going to assume, the other Chick-fil-a knock off, is also better at Chick-fil-a then at McDonald's.

In addition, since I left my water bottle at home (I know stupid) I spent 75 cents to buy a quart of water. Nice thing is that it has a sports bottle top, so that I can easily reuse it, when I start using more tap water. So not all bad there.

Then, when I left work I bought 2 boxes of Au Gratin Potatoes that were on sale for $1 each and a package of 100 mini skewers. Since I don't know where to get pop cycle sticks (w/o buying a bag of caramels), I bought these to use to make homemade corn dogs (1.09).

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