March 24, 2011
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President – Dead Broke
He was a philosopher, diplomat, inventor, architect and musician. But Thomas Jefferson was awful at managing his money. All his life he spent more than he took in, even as President. After his presidency, his debts piled up to astronomic heights. He didn’t have enough money to pay for household items. He persuaded that state of Virginia to pass a special law allowing him to hold a lottery to raise money. Very few people bought tickets. When Jefferson died his debts exceeded 1 million dollars in today’s money. His heirs had to sell his beloved Monticello to pay them off. Jefferson died broke.
Are you good, fair or bad at handling money?
More video while Alicia was in China
Family Feud Question: Complete: The gift of __________________
Comments (36)
Reminded me of Jackie Gleason. I need me some “Honeymooners”. The gift of GAB.
@Kowpatty - You know I could use some Jackie Gleason also – I loved that show.
I think I’m good (: lol .
@fabolousclown - Great – you seem disciplined.
We used to be really bad with it….we are doing better by the grace of God!
I’m not very good at it, but I’m not in debt either.
The gift of time. That’s what my mother always wants for her birthday — our time spent doing what she wants. It’s an important way to show love.
Thanks for the kind words. The seals were really neat to see. Good hearing from you. = ) Take care & God bless.
A lot of people go broke being president – that’s why they get book deals when they leave office.
money? The gift of time
@stephensmustang - Thanks
@agnophilo - um – never heard of any other President that has gone broke. The president earns a $400,000 annual salary, along with a $50,000 annual expense account. We pay the President very well. Just curious – not to question you but do you know of any other President that has gone broke?
@curlyonegurl - YW
@lanney - Not being in debt is great. -you must be doing something right.
@ThexGodfather - I think God has given a grace season for people to put their finances in order. Pat Robinson says that America has a couple more “good” years and then…. I take that seriously.
I’m not GREAT with money, but I have my moments where I’ll save and saved.
@LKJSlain - moments can lead to habits – thanks for commenting.
@Randy7777 - I do hope that it’ll be a good habbit someday. One thing that I have realized over the last few years is this… It is very difficult to SAVE when there is little. We tend to pay bills, buy gas (That has to change somehow), pay rent, and then go out a few times (I say you HAVE to to keep things alive) and what’s left? Not much. I think we’ve come up with a plan. If we put away like twenty dollars into a different account every two weeks, and NEVER touch it until the appropriate time, VOILA!
I definitely have room for improvement. We need to work on saving and investing. The hubby and I are going through Financial Peace University right now at church and I think it will help me out a lot.
@LKJSlain - That is a great plan. We don’t make much money ourselves but I’ve never just paid anything. We get a little extra groceries (when on sale) or pay extra on mortage. We also have a reverse auto loan – meaning I put money in our savings for a vehicle. We’ve paid cash for vehicles for the last 15 years. But we had to start where you’re at. I’ve taught my older daughter the same thing and they started without a car loan – paid cash for nice cars. It’s not how much you get it’s what goes out. Sorry for my rambling but I love seeing people go into financial freedom. I take care of several peoples checkbook and have taken those people that are on fixed incomes and built up their cash reserves so they could weather difficult times. -wishing you the best
I did not know that about Jefferson. Maybe that’s the reason he did not have good things to say about banks. In answer to your question, I think as a young person I was on the “bad” side in handling money. As I matured, I tried to get better, but I have to admit that in the 90′s, my situation was such that I needed to use credit cards to help with expenses. As a senior, I am becoming more picky about what I spend money for, and it helps that I feel that I need less in my life in terms of material stuff.
Family Feud Completion: 1) “The Gift of the Magi” 2) The gift of gab. The most meaningful gift to me, however, is The Gift of Grace! ~~Blessings ‘n Cheers
@skittler335 - That’s a great course. I like Dave Ramsey – sometimes he’s to straight forward for me -lol I use a lot of his principles – they really work. My wife and I sometimes argue but never about finances. We have a strong budget and we both know the boundaries. My wife knows how much she can put on the credit card each month and never goes over it. We pay it at the end of the month and what’s nice is we get a check every 6 months from the credit card.
@DonnaLou - Isn’t that the truth? – The older we get the less we need. I’m the same way.
@Randy7777 - A quick google search reveals lincoln, jefferson, grant and mckinley all went bankrupt at some point. And I’m sure others have lost a lot of money while in office and then gained it back from things like book deals, lecture tours etc.
@agnophilo - Lincoln failed in a lot of things before he succeeded in the Presidency. Spend more than you make will make you poor, no matter if you’re President or not. Thanks for info.
@Randy7777 - I don’t know what all presidents do with their own money, but I imagine a lot of it is keeping up appearances. If the president goes to another country I’m sure he can’t sleep at the motel six.
I can hold my own…
We take in more than we spend, though not by much. I’ve produced more than I’ve been paid for, I paid for more than I own, I own more than I need.
I am bad but am doing different things to become good…. eventually!
@TheGhioniFiles - that’s good
@Aloysius_son - Probally like most Americans.
I am excellent at handling money. That must be why I’m not President.
I think that I’m pretty good at handling money. I don’t spend all of my money, try to save and when I want something I try to find it at the best price possible.
My bf’s job doesn’t pay him that much each week, so we are constantly penny pinching a lot. It’s tough, and sometimes we are broke. It’s really not any of our faults.
I am so disappointed to hear that T.J. had such poor money sense! I have always admired him. I guess he was human afterall. The “gift of gab” is the only thing that my mind will come up with after I read it above! LOL There must be others, too.
@Dominie - T.J. didn’t seem to be a good family man either. He through everything into leadership and birthing a nation.
I always took care of a just balance in my familial financial balance