“Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.”

Franklin D. Roosevelt

There seems to be a common thread among famous people and their thoughts on money. Many say the same thing; money can’t buy happiness. And it is true, because many of them have experienced wealth and are not happy.

Check out this old Verse of the Day to find out what money can’t buy.

4 We must quickly carry out the tasks assigned us by the one who sent us. The night is coming, and then no one can work.

John 9:4 (NLT)

Who would want to work the graveyard shift? I know sometimes we have no choice but to hold two, three, or even four jobs to pay the bills, but I wouldn’t be able to function properly if I had to work through the night. I mean, night time is for sleeping, not working. This verse gives me another reason to dislike the graveyard shift.

It seems like foreclosures are everywhere. And it’s true. Even the rich and famous are facing foreclosure and abandoning their homes (not that I have any sympathy for the rich or famous losing their homes).

1. Jose Canseco

canseco

Former baseball player Jose Canseco reportedly abandoned his home in the spring. His 7,300 square foot Encino, California house had four bedrooms, and six baths. He bought it in 2006 for almost $2.8 million. It had an outstanding balance of over $3.3 million which includes back payments, fees, and penalties.

2. Ed McMahon

edmacmahon

Former Tonight Show announcer Ed McMahon is behind about $644,000 on his 90210 home. The mortgage balance is approximately $4.8 million and is currently listed at $6.25 million. He has had no offers in two years. The home has six bedrooms and seven baths and he paid less than a million back in 2000.

3. Evander Holyfield

evanderholyfield

Former heavyweight champion Evander Holyfield has a 54,000 square-foot, 109-room, 17-bath mansion in Fayette County, Georgia. Holyfield defaulted on his mortgage (balance of $10 million) this spring and an auction was scheduled but has since been cancelled. He said that he is in no danger of losing his home and that he’s “just not liquid.” Holyfield must have found some cash because he is no longer in foreclosure.

4. Michael Jackson

michaeljackson

Michael Jackson’s 3,000 acre estate in Los Olivos, California is valued at around $35 to $45 million. He owes more than $24 million on the mortgage and the loan was taken over by Colony Capital, LLC since Jackson left it in 2005.

5. Courtney Love

courtneylove

Singer Courtney Love purchased her home in Olympia, Washington in 1997 but stopped making the payment in 2003. It went into foreclosure in 2006. Her balance on the mortgage was $386,000 at the time. The house went to auction but it failed to sell and Love caught up her payments. She is still the owner of the house.

Source: CNN Money

“If you want to see what God thinks of money, just look at all the people He gave it to.”

Dorothy Parker

Interesting quote. Who does God give money to? It says in the Word that He gives seed to the sower (Isa. 55:10, 2 Cor. 9:10). In others words, God blesses those who are sowers. Sowers don’t sow sometimes. They don’t sow when they feel like it. They don’t sow when the conditions are just right. Sowers sow all the time because if they stop sowing, they will stop reaping a harvest down the road. It’s a matter of life or death. Food or no food. That’s how you should think of it. Be a sower today!

19 He who tills his land will have plenty of bread, But he who follows frivolity will have poverty enough!

Proverbs 28:19 (NKJV)

Hard work generally leads to plenty of bread (plenty of food), but laziness generally leads to poverty. This is a common theme thoughout the book of Proverbs (which is one of my favorite books in the Bible). Now there’s nothing wrong with having fun. But it’s the overindulgence of fun that leads to poverty. Everything in moderation…

From the Nelson Study Bible:

Tills his land is a call to hard work, a promise of reward, and a warning against frivolity or overindulgence in fun.

“A bank is a place that will lend you money if you can prove that you don’t need it.”

Bob Hope

So why would anyone want to borrow money? If you need the money, you can’t get a loan, but if you can prove that you don’t need it, they will gladly lend you the money that you don’t need…

pyfchallenge

FNBO Direct is putting on a Pay Yourself First online video contest with some nice cash prizes! I had heard about the contest a while back since I’m a customer of FNBO Direct and I wanted to put together a video. I kept putting it off until fellow blogger Jonathan at My Money Blog wrote about it and put up a video for the contest. This kind of sparked a fire inside me (I always love a little competition!) and I whipped up a quick video for the contest. Go ahead and watch and rate it!

http://www.youtube.com/watch?v=wn6YhPPK0v4

The odds of winning are really good since currently there are only 33 submitted videos and four of them are from FNBO so there are really only 29 submissions (including mine). That means almost everyone by default is winning $500! First 500 submissions get a $10 Amazon.com gift card. Top 20 videos win $500. Top five get up to $5000 in matched savings. Deadline is July 31st and unless everyone is just waiting to post their videos up before the deadline, I think you have a good chance of winning something. Let’s just hope they don’t cancel the contest for lack of participation.

FNBO Direct is currently paying 3.50% on their online savings account which is a very competitive rate right now. I currently have some money parked there. Here’s my full FNBO Direct review.

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