Facebook will not control my life..no...I mean, Facebook will not control my wife.

There was an article in the Charlotte Observer on Saturday that caught my attention. It said a mother bet her daughter $300 that the daughter could not stay off of Facebook for 30 days. The daughter won. Thinking out loud, I said "There is no way that Mitsy could go 30 days without Facebook". Not one to shy away from a challenge, she agreed. Now, this was a "no money" challenge, because I don't think I would win once she set her mind to it.

The sad part about these social media sites, is that people have started using these in replacement of actually talking to others. There was a news story on NBC that said people that spend time more time on social media, have less "real friends".

Now, in full disclosure, I am on Facebook. However, that being said, I do not think that I have posted anything on my wife's wall. Why? If I want to say something to her, I will call her if I am not home. If I am at home.....get ready for it.......I will talk to her. I know, that is a crazy thought.

Facebook like beer can be satisfying. But, moderation is the key.

Put some socks on, my feet are cold.

This is a statement at first thought seems a bit odd. I remember my mom saying this to me growing up. I got the point, but looking back it is does make you think. The point was simply that if she was cold, it would be in my best interest to have something on my feet. As a parent I get it. But, imagine if you will that your boss said; "I am getting pressure to produce, so you need to work harder." How about the government saying, " we have spent all of our budget so we need more of your money."

Wow, these last two statements sounds ridiculous, but they are all too common today. I think that all too often people in leadership positions are leading based on their best interests, not the best interests of those they represent.

We are moving you to make room for other people

This week at work, we were told that the we will be moved to the second floor and the third floor would be leased out to another company. When this was announced, I couldn't help but think of this scene from "Office Space".

The question becomes, do you let yourself become a "Milton", or do you act like the CEO of "you inc." and work on your long term plan. You see, companies act in the best interest of the company. Therefore, you need to act in your best interest. Exploring your options and keeping your resume' polished does not make you a bad employee. It makes you responsible and practical.

Finally, a reason to wear capri pants!

You know there is bad weather when Jim Cantore comes to your town. It has rained here in Wilmington for 4 straight days. We have seen around 23 inches of rain since Sunday afternoon.

Now there are many things in life that I question the purpose of. Things like broccoli, twitter, braille on drive up ATMs, and Capri pants. The first time I saw Capri pants, I remember thinking "make up your mind" You are either wearing shorts or pants. Stop being so indecisive!

I remember about 4 years ago, being at Alligator Adventure in Myrtle Beach, SC. There was a boy about 5-7 years old with his family. They were standing in front of us while waiting to see the next scheduled feeding. The boy starting every sentence by saying, "Daddy, why do.....". Now that might not sound odd, but imagine he said it with a "Water Boy" type accent. After about 9 consecutive questions, I started copying him. You see, the boy was either wearing capri pants, or they were in the dryer much too long. I would look over at Mitsy and say in my best "Water Boy" tone; "Daddy, why you make me wear these Capri pants?" While it does lose something in translation, it was hysterical at the time.

Now years later, I have found a purpose for them. With 23 inches of rain, the Capri wearing people of the world can smile while wearing their dry pants.

Where have all the Good People Gone?

Jack Johnson was on to something.

The political commercials are in full swing. I always get a bad taste in my mouth when these start. Why? For the simple reason that I do not believe any of them. They all seem to have alterior motives. Instead of telling the truth, all of these politicians are trying to sell you on why they are better than their competition. I wish they would be able to show that they are the right person for the job, rather than just being better than the others.

I would vote for someone in a heartbeat that kept their pitch honest and said:

There are individuals, businesses, future generations, and our environment to consider. Each of these needs to be able to work together so that in 50 years, we can say that the world is a better place. If one of these takes priority over the other than we all suffer. Big business cannot override the environment, and individuals cannot take priority over future generations. Everyone will have to give a little to make it work.

Now, before someone calls me a communist, I am not talking about wealth distribution. If you earn it, you should be able to keep it. However, I think that it is selfish to not consider how you will impact the world around you.

Make sure you stretch before you jump the shark

Jumptheshark.com is a great website. The basic premise of the name goes back the the tv show "Happy Days". There was an episode several seasons into the series where Fonzie was water skiing in his leather jacket and jumps over a shark. This was the point in the series you knew that it was over.

When a show continues on beyond its lifespan, it becomes painful to watch. This has happen with many shows. I think that "American Idol" should have ended with the exit of Simon, but the network could not let it go. Now we will have J Lo and Steven Tyler. These are not people that inspire viewers to continue to watch.

There seems to be a mindset in tv and movies that the magic and success of an original can be remade and have the same success. Unfortunately, in most cases the second time around is never as powerful. I counted down the days before the "Dukes of Hazzard" movie came out, as a lifetime fan of the tv series. Like most, I was very disappointed.

Today is the opening of "Wall Street: Money Never Sleeps". Now I have watched the original Wall Street more times than I can count. I am sure that I will watch it many more times. I am cautiously optimistic that this sequel will be good. I hope that Oliver Stone does not try and remake "Wall Street", but lets this movie have a identity of its own. So, as Gordon Gekko says to Bud Fox; "lets roll the dice and play a little Monopoly".

I don't want your expertise, I know everything because I saw it on the Internet!

You would not believe how true the title of this post is. I hear from dozens of people from all walks of life and every state each day. And every day it is the same story. "I know that interest rates are dramatically lower than where YOU have me at. If you can not GIVE me a better rate then I will refinance with somebody else." There are so many things wrong with this statement, that it is hard to know where to begin.

The major problem as I see it, is that most Americans have received their financial education from TV, the Internet, friends, or their family. The last two are the most dangerous. Why? Because more often than not, these people are no brighter than the one they are giving the advice too. Before I went to college for a business degree, the only financial courses available in the public school system were in the form of electives. I do not understand how an education policy maker thinks that I will not survive in the world without reading Beowulf, but I will be just fine not knowing how to balance a checking account, understanding the fundamentals of a credit score, or the difference between simple and compounding interest!

So, here is my public service for the day. Let us say that you purchased a house in 2005 for $200,000. You were unlike many people and put 20% down, so your new mortgage is $160,000. The interest rate you received was 6.00% on a 30 year fixed mortgage. At that time you did not pay any discount points and your total closing costs were $2,500. Your monthly principal & interest payment is $959.28.

You are being a good borrower and paying your mortgage down, and then you go on the Internet in 2007. You see that interest rates "are at an all time low", and you know that you have to refinance because you will save money. So, you refinance into a new 30 year fixed mortgage at 5.0%. Your balance at that time is down to $155,949.51. The closing costs on the refinance will be another $2,500. You decide to roll these costs back into the loan because the new payment will still be lower. Your new mortgage is now $158,449.51 and your new principal and interest payment is $850.59. You think you got a good deal and life goes on.

Now, it is 2010 and "rates are at an all time low". So, you decide to check out your options. The thought of a 15 year fixed sounds nice, but your lifestyle will not allow for such a large payment. The loan officer said that they can get you 4.5% on a 30 year mortgage with a reduced $1,500 in total closing costs. The question: do you do it? Now, before you answer, I have one additional piece of information. Your family is growing and you think you will need to move in 5 years to a bigger home. Most people would say yes because the payment will once again decrease to $773.06. This will allow them to pay down other bills and save for a bigger home. True, but at what cost?

Let's say in 5 years you move and sell this home for $225,000 and you did decide to refinance the second time. Your payoff mortgage balance is $139,080.83. At this point, you have paid $88,303.69 in interest and fees since 2005! Now if you did not refinance the second time, your balance would be $136,033.63. Your interest and fees paid would be $83,312.69.

What does this tell us? Refinancing is not something that should be done too many times. The more you refinance the less the benefit will be. In this example the 2nd refi caused you to pay 5 thousand more in interest and still owe 3 thousand more and the balance.

Before you think about refinancing, get off the Internet!!!!! Ask yourself, how long will I be in this home? How much have I already paid in interest and fees? Be honest. The only person that you hurt is yourself by listening to other people who are saying "you need to lower your rate".