Tagged with "Finances"
Mortgage broker stole $4m in Mormon project scam
MR says: So sad for those who lost money. It looks as though she targeted older people, since it was intended as a retirement village in Australia. A woman who swindled friends, fellow churchgoers and clients out of more than $4 million on the promise of massive returns from an imaginary retirement village...
Dave Says: Date Nights Without Costing a Dime
Of course it's important to keep the romance in your marriage, but it doesn't have to cost you a pretty penny. Dear Dave, My husband and I have a baby and are trying to live on a budget and pay off about $14,000 in debt. He wants to spend $100 a month for a date night, but I think this is too...
Dave Says: What Are the Pros and Cons of Wholesale Shopping?
When you've got a wholesale club membership, shop like you budget. Don't buy what you don't need in bulk! Dear Dave, What is your opinion on wholesale club memberships? Anonymous Dear Anonymous, My wife and I are members of Costco and Sam’s Club. We don’t buy everything at these places,...
Opinion: A Mormon ward is a place to pray, not prey
MR says: The First Presidency recently released a statement reiterating the idea that we shouldn't count on church relationships to make business decisions. This columnist registers his thoughts on the subject. Last week, our bishop got up in sacrament meeting and read a letter to the congregation from...
Mormon tithe not a 'necessary expense' in IRS collection case
MR says: An LDS man was trying to argue that, in paying back taxes, he couldn't pay as much as the IRS said he should because he had to pay tithing each month. The court said tithing didn't count. Nothing like a Tax Court decision with dueling Bible verses. The taxpayer had something from Malachi -Will a...
Utah, other large LDS populations highest in marriage but lowest in life insurance
MR says: An interesting (and kind of odd) correlation . . . Marriage ranks high in Utah, but life insurance hasn’t become a priority yet. With 57 percent of the residents married, Utah has the highest marriage percentage in the nation. But nationally, it is the seventh lowest in life insurance,...
Dave Says: Be Tightfisted until the Crisis Is Over
When you're on the brink of a financial crisis, it's a good time to keep the cash piled high, Dave says. Dear Dave, Recently, my husband had to quit his job due to an old back injury. We have $25,000 in debt, but I’ll be receiving a $38,000 inheritance in a couple of weeks. Should we use the...
Top Tips for Zero-interest Credit Cards
What could be more appealing than a zero-interest credit card? You can make purchases and pay for them at your leisure, all without having to worry about high interest hanging over your head. But if you find yourself in a position to get a zero-interest credit card, be careful—using it unwisely could come back to haunt you.
Dave Says: Responsible After Death?
My single daughter was living with me when she died. Is it my responsibility to pay student loans and medical bills left behind? Dear Dave, My daughter died. She was 32 years old and single, and she had lived with me for the last few years because she was recently disabled. I did not support...
Dave Says: Make Decisions Together
I handle all the bills and money decisions because my husband says it stresses him. But this places a lot of burden on me. What should I do? Dear Dave, My husband doesn’t like dealing with money. For years, I’ve handled everything from paying the bills to making the decisions, and he just...
Relief Society Lesson: More on the Life and Ministry of Lorenzo Snow
MR says: Lorenzo Snow was awesome. This is a thorough (but brief enough to read fairly quickly) history of his background. I love this lesson series. I love the different approaches different writers take, and the insights they have that I’d miss on my own. Most of all, I love that it exists. So of course...
Dave Says: Better Safe Than Sorry
Is it a good idea to convert stocks into a money market account to lower the risk? Dear Dave, My wife and I are 70, and we have $950,000 in annuities in the market, plus $68,000 in our emergency fund. The only debt we have is our mortgage. I’m considering converting our stocks to a money...
Dave Says: Is This an Emergency?
Should we use our emergency fund to help pay for the cost of our new baby's hospital delivery bills? Dear Dave, My wife just had our first child. As a result, we now have $2,500 in medical bills not covered by insurance. We’ve got $7,000 in our emergency fund, and I make about $25,000 a year....
Ex-bishop of Mormon singles ward charged with investment fraud
MR says: What a terrible situation. A former LDS bishop is facing criminal charges after investigators say he involved members of his congregation or those who knew him through his church position in an investment scheme. Chad Bennett Reid, 57, of South Ogden, was charged with three counts of securities...
Dave Says: The Tuition Payment Plan
When should we pull our mutual funds to help pay for our son's college tuition? Dear Dave, Our son is graduating from high school next spring. We’ve saved cash to pay for his first year of college, and we have enough in mutual funds to pay for another semester. When should we pull out the...
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