I remember hearing this story years ago. It seems like a good time to pass it along:

"Cathy was cooking her first Christmas dinner. She was doing a roast, and as she prepared it she cut off the ends of the roast, put it in the pan and then in the oven.

Her teenage daughter, watching, asked, "Mom, why do you cut off the ends of the roast?"

Cathy thought about it and said, "Well, because that's what my mom always did." Grandma was in the other room, so they went and asked her why she cut off the ends of the roast. She said because that's what her mom always did.

Their great-grandma was still alive, and when they went to visit her over the holidays, they asked her why she cut off the ends of the roast. She promptly replied, "Because back then, we had a small oven and a small pan, and that was the only way it would fit."

It is amazing, and sometimes frightening, how many things we do, and beliefs we pass along, without ever stopping to question them. Wouldn't it be better to teach our children the skills of analytical thinking rather than "because I said so?"

Every day I hear people spout economic beliefs they have been taught, undoubtedly repeating a mantra they have heard many times, but one which they've not taken the time to think through for themselves. One of the most recent ones "Because the Fed is printing money, we will inevitably have a serious inflation problem on our hands."

Is this really true? No, not necessarily.

To understand why it may not be true, you have to stop and think about the forces of supply and demand. You have to think of money as a commodity, with interest rates setting its price.

These are not easy concepts to grasp, but better to try to understand them than to pass along thoughtless rhetoric.

To increase your knowledge, grab a copy of Free Money. It is written using simple terms that are easy to grasp. It provides a far better understanding of complex economic concepts than many a college economics course.

After reading it, share your thoughts on it over the holidays. Be prepared for some healthy debates though. The ideas in it will be sure to stir up the holiday conversation.

One of my good friends is in the midst of a quest; a quest of self-discovery. She wants to narrow her market and develop a niche; a group that she feels passionate and driven to help.

As we were talking she kept saying "I don't know if I'm supposed to do this... or if I'm supposed to do that."

I quietly asked, "Supposed to... according to who?"

How often do we make decisions based on some vague notion of what society thinks we are supposed to do?

When you find yourself wondering what you are supposed to be doing, stop and ask yourself, "According to who?"

This is true, even of your financial decisions. Each of you is an individual person with a unique set of circumstances. The right decision for your neighbor, or the answer based on conventional wisdom, may not be the right decision for you.

For example, you're not supposed to withdraw funds from your IRA before age 59 ½. Why? Because such IRA early withdrawals have to be reported as income, which means you pay taxes on the withdrawal, and a 10% penalty tax is assessed. And because in many states your IRA would remain a protected asset if you should file bankruptcy, so if times are really tough, it may not be so wise to spend down the retirement account - it could be a protected asset.

On the other hand, did you know if you are unemployed, you can use an IRA early withdrawal to pay for your medical insurance, and you will not have to pay the penalty tax on any amount withdrawn? It is one of many ways you can take an IRA early withdrawal, and not pay the penalty tax.

I'm not saying it would be the right thing to do. I am saying sometimes it's a good idea to think beyond the "supposed to's," especially in such a challenging economic environment.

Every Friday I post a "What Would I Do" topic. Keep in mind it is not necessarily what you should do. Instead, it is written to give you insight into how to think about various financial decisions, and then, from an educated perspective, you can make the right decision for you.

This week's topic is, "What Would I Do - Spend The Money On Plastic Surgery Or Save It?

Over the years I've had numerous clients come in to let me know they will be withdrawing funds for some work done on their eyes, a set of porcelain veneers for their teeth, or a full-on face lift. I'm all for it.

In a competitive market, let's face it: how you look matters. How you feel about yourself matters too.

If I had work I wanted done, and felt the health risks of going forward with the procedure were negligible, I'd say 90% of the time I'd have the work done.

Here's how I would go about it:

• Rather than just taking the money out of savings, I'd think of it as a trade-off. What could I exchange for the work I wanted done? Would I downsize my car? Eat out less? Fore-go clothes shopping until I had saved enough for the procedure? Find a way to earn extra money?  I'd find something I was willing to give up, or some way to earn more, rather than just spending more.
• I'd go through a complete health screening to make sure I was not taking a foolish risk.
• I'd interview several doctors, and preferably take a friend or loved one with me to the interviews.
• I'd read everything I could online about the procedure and expected outcomes.
• I'd get in shape through physical exercise and a healthy diet so I could give my body the best chance at a quick recovery. Besides, what's the point of spending money on yourself if you're not willing to maintain a healthy lifestyle?

I'd like to hear your opinion on plastic surgery. Please take a minute to share your own thoughts in Readers Respond: Would You Or Wouldn't You?

Those of you who read my blog regularly will know that from time to time I get frustrated by those who spout off about things they don't really know about. If you don't have the facts, don't open your mouth.

I hear uneducated opinions about investing, banking, economics and the current economic crisis getting passed along like gospel on a daily basis. Now don't misinterpret me - I am not promoting that one opinion is right and another is wrong. What I am saying is, if you're going to take a stance, take an educated stance.

I want you, my readers, to form your own educated opinions, so from time to time, I'll now be posting a new type of blog titled "Ignorance Is Not Bliss". In it I will link to either an article I wrote, or something I've found on the internet, that presents the facts about a topic that I hear misrepresented all too often.

To kick things off, here is a piece issued by The Committee For A Responsible Federal Budget, which is a bipartisan, non-profit organization committed to educating the public about issues that have significant fiscal policy impact (wow, who knew there was such an organization, too bad they're not in Congress.)

In their article Troubled Asset Relief Program: Year-End Review, they do a succinct and factual job of summing up what the program has done, how it has worked, and what it needs to do next.

No excuses for you now. Until you've read this article, don't offer an opinion on the bailout.