AOPA credit card --- WARNING.

Our entertainment consist of watching TV, going to visit family
(within 20
miles), going to DFW airport and sitting at the park watching planes
take
off and land, going to the American Airlines Museum (free), Pates
Museum of
transportation (free), etc... We rarely go places that cost money...

You are not alone. Some of us are just farther along life's path.

When we first moved to Iowa in '97 to set up our business, we literally
spent everything we had to do it. We risked everything, and, of
course, it took months for our business (newspaper distribution) to
make any money -- plus we had a start-up business loan to pay off.

Needless to say, flying was occasional (at best), and entertainment
consisted of going to the public library with the kids, who were just 7
and 4 years old. We only ate out at the college-student-oriented
restaurants ($3 all-you-can-eat taco night -- whoopee!), and spent a
lot of time working.

It was a tough slog in the mud, but by being careful (and having no
life!) we paid off the start-up loan in a couple of years, avoided
credit card debt, drove old cars -- and by late '98 we were in a
position to buy our first airplane. (Which actually cost less than our
full-sized Ford van, by the way. Aircraft are NOT all that expensive.)

By 2002 we had "made it" to the point where we could look at trying
something fun -- like buying an old hotel and turning it into a dream
destination for pilots. We're making 1/3 of what we made in our last
business, but are having the time of our lives.

We've got a better plane now, but we still drive old cars, don't go out
a lot -- and we still have no credit card debt. In fact, the only
money we owe is on our home mortgage.

Bottom line: Fiscal responsibility and financial success *can* be had
-- but it takes discipline and hard work.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

"Jay Honeck" wrote in message
oups.com...

snip

Bottom line: Fiscal responsibility and financial success *can* be had
-- but it takes discipline and hard work.


And that is what I am trying to accomplish...





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Jay Honeck wrote:
Our entertainment consist of watching TV, going to visit family

(within 20

miles), going to DFW airport and sitting at the park watching planes

take

off and land, going to the American Airlines Museum (free), Pates

Museum of

transportation (free), etc... We rarely go places that cost money...


You are not alone. Some of us are just farther along life's path.

When we first moved to Iowa in '97 to set up our business, we literally
spent everything we had to do it. We risked everything, and, of
course, it took months for our business (newspaper distribution) to
make any money -- plus we had a start-up business loan to pay off.

Needless to say, flying was occasional (at best), and entertainment
consisted of going to the public library with the kids, who were just 7
and 4 years old. We only ate out at the college-student-oriented
restaurants ($3 all-you-can-eat taco night -- whoopee!), and spent a
lot of time working.

It was a tough slog in the mud, but by being careful (and having no
life!) we paid off the start-up loan in a couple of years, avoided
credit card debt, drove old cars -- and by late '98 we were in a
position to buy our first airplane. (Which actually cost less than our
full-sized Ford van, by the way. Aircraft are NOT all that expensive.)

By 2002 we had "made it" to the point where we could look at trying
something fun -- like buying an old hotel and turning it into a dream
destination for pilots. We're making 1/3 of what we made in our last
business, but are having the time of our lives.

We've got a better plane now, but we still drive old cars, don't go out
a lot -- and we still have no credit card debt. In fact, the only
money we owe is on our home mortgage.

Bottom line: Fiscal responsibility and financial success *can* be had
-- but it takes discipline and hard work.

Yes, that is exactly the bottom line that a few here seem unwilling to
accept. It is easier to blame their problems on folks born with a
silver spoon in their mouth than to simply slog through the dark days
and get ahead of the debt curve. Unfortunately, our schools and often
our parents simply don't teach people good financial management skills.
And society in general certainly encourages financial recklessness and
people without the skills and will power to handle it can easily get in
trouble.

Matt

Yes... basic values used to be taught at home by parents and family.
Since they are not (in general), it sure seems they should be taught in
school.

It always puzzled me that there is emphasis on learning that the "Battle
of Hastings was fought in 1066" and how to solve quadratic equations
(When will you EVER use this information in real life?) and nothing
taught about REAL life skills kids lack and really need.

Rich


Matt Whiting wrote:
Unfortunately, our schools and often
our parents simply don't teach people good financial management skills.


Matt

"Basic values" was perhaps a poor choice of words for what I meant.
"Life skills" better describes it.
Rich

Rich wrote:
Yes... basic values used to be taught at home by parents and family.
Since they are not (in general), it sure seems they should be taught in
school.

Rich wrote:
Yes... basic values used to be taught at home by parents and family.
Since they are not (in general), it sure seems they should be taught in
school.

It always puzzled me that there is emphasis on learning that the "Battle
of Hastings was fought in 1066" and how to solve quadratic equations
(When will you EVER use this information in real life?) and nothing
taught about REAL life skills kids lack and really need.

Well, maybe I shouldn't admit this, but I do (did anyway) use quadratic
equations and significant other math in my day job. However, I
understand and agree with your point. I'm not against history or
advanced math, but I do think teaching a little more basics on personal
financial management would help a lot of young folks as they start out
on their own. I had a pretty good grounding growing up, but also read a
lot of financial books very early in my college and working career and
it helped tremendously.


Matt

"Matt Whiting" wrote in message
...
Rich wrote:
Yes... basic values used to be taught at home by parents and family.
Since they are not (in general), it sure seems they should be taught in
school.

It always puzzled me that there is emphasis on learning that the "Battle
of Hastings was fought in 1066" and how to solve quadratic equations
(When will you EVER use this information in real life?) and nothing
taught about REAL life skills kids lack and really need.

Well, maybe I shouldn't admit this, but I do (did anyway) use quadratic
equations and significant other math in my day job. However, I understand
and agree with your point. I'm not against history or advanced math, but
I do think teaching a little more basics on personal financial management
would help a lot of young folks as they start out on their own. I had a
pretty good grounding growing up, but also read a lot of financial books
very early in my college and working career and it helped tremendously.

You are so very clever.

Mike V. wrote:

"Matt Whiting" wrote in message
...

Rich wrote:

Yes... basic values used to be taught at home by parents and family.
Since they are not (in general), it sure seems they should be taught in
school.

It always puzzled me that there is emphasis on learning that the "Battle
of Hastings was fought in 1066" and how to solve quadratic equations
(When will you EVER use this information in real life?) and nothing
taught about REAL life skills kids lack and really need.

Well, maybe I shouldn't admit this, but I do (did anyway) use quadratic
equations and significant other math in my day job. However, I understand
and agree with your point. I'm not against history or advanced math, but
I do think teaching a little more basics on personal financial management
would help a lot of young folks as they start out on their own. I had a
pretty good grounding growing up, but also read a lot of financial books
very early in my college and working career and it helped tremendously.


You are so very clever.



And you're obviously not.

"Matt Whiting" wrote in message
...

Well, maybe I shouldn't admit this, but I do (did anyway) use quadratic
equations and significant other math in my day job. However, I
understand and agree with your point. I'm not against history or
advanced math, but I do think teaching a little more basics on personal
financial management would help a lot of young folks as they start out on
their own. I had a pretty good grounding growing up, but also read a lot
of financial books very early in my college and working career and it
helped tremendously.

You are so very clever.

And you're obviously not.

Your opinion does not count (at least, not to anyone other than yourself)

On Sun, 28 Nov 2004 14:06:42 -0500, Matt Whiting
wrote:

Rich wrote:
Yes... basic values used to be taught at home by parents and family.
Since they are not (in general), it sure seems they should be taught in
school.

It always puzzled me that there is emphasis on learning that the "Battle
of Hastings was fought in 1066" and how to solve quadratic equations
(When will you EVER use this information in real life?) and nothing
taught about REAL life skills kids lack and really need.

Well, maybe I shouldn't admit this, but I do (did anyway) use quadratic
equations and significant other math in my day job. However, I

I find I use a lot of trig, but I don't think I've ever used the
Quadratic since graduation, nor have I used any of that Calculus.
Well... I did use it in grad school, but I never had to use it in
software design like I did in college.

Even with a minor in math I sure don't miss the stuff.

understand and agree with your point. I'm not against history or
advanced math, but I do think teaching a little more basics on personal
financial management would help a lot of young folks as they start out

The local high schools are doing that now. I could have used it back
when I was in high school. At least when I was in college they had
developed "Writing across the curriculum", meaning you wrote at least
three or four papers in each class, not just English.

Had they taught even basics in finance along with investing I think
we'd be far better off today.

24 years ago I had just gotten out of a marriage, owed so much money I
thought I'd never get out of debt and still managed to get my daughter
through college and number one son out on his own. (I got the kids)

on their own. I had a pretty good grounding growing up, but also read a
lot of financial books very early in my college and working career and
it helped tremendously.

Thanks to the level headedness of my folks I have a pretty good head
for finances. I was raised on a small farm and actually farmed long
enough after high school I knew that was not for me. It took me 29
years to get back into college, but I did well. Started on my masters,
but quit for a good job. Worked 7 years and retired. It'd be nice if
retirement paid a bit better, but my wife and I can do most of the
things we like. We don't drive new cars. We pretty much drive them
till the wheels are ready to fall off although my TA had a bit of help
from a GMC. Even then the wheels didn't fall off, but the front ones
ended up under the dash.

I firmly believe if the youth of today were given a good education in
finances, learned to conserve while young, were willing to wait a few
years before starting a family, were willing to settle for an economy
car instead of a big truck or SUV, and put every cent allowed into
their company's CAP (or invested it wisely) they could retire
millionaires. Giving up a little early one can pay really big later
on in life.

There will always be those who don't make it, or get caught, but if
they are willing to move and hunt for the good jobs, save early on
while planning ahead *most* will do well.


Roger Halstead (K8RI & ARRL life member)
(N833R, S# CD-2 Worlds oldest Debonair)
www.rogerhalstead.com

Matt