MIDYEAR REVIEW OF INVESTMENTS AND PERSONAL FINANCE : Personal Best

We publish advice and insights from all sorts of investment and personal finance experts--much of it contradictory. So to find out what works in real life, we went to the source, asking our readers to recount their all-time best financial decisions. From hundreds of letters, faxes and e-mailings, we’ve selected a few of the most interesting to publish or excerpt. Thanks to everyone who contributed.

A Life Without Debt

I attended a seminar given by Christian Financial Concepts and put our family on a good old-fashioned budget. With this system, I am able to live without any debt. I’m able to pay cash for all major purchases. I make payments to myself for my next car, so after five years I can pay cash for a new one. And I plan on buying a house by putting at least 75% down. There is peace and harmony in my home.

On budgeting, Proverbs 27:23-24 says: “Know the state of your flocks and your herds. Riches can disappear fast, and a king’s crown doesn’t stay in his family forever.” So watch your business interests closely.

Richard McMillien

Irwindale