Comments on: Why Bother With Personal Finance? http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/ Common sense advice on money saving tips, how to get out of debt, high interest savings accounts, cd rates, money market accounts, mortgage rates, money management and more. Wed, 22 May 2013 05:54:52 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Mary Ann http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-984692 Mary Ann Sat, 04 Dec 2010 16:12:15 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-984692 Very well said. Personal finance education helps one be better prepared, reduce risk, secure the future, and enjoy an improved sense of well being. Very well said. Personal finance education helps one be better prepared, reduce risk, secure the future, and enjoy an improved sense of well being.

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]]> By: Finance Topics » http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-84514 Finance Topics » Mon, 23 Apr 2007 10:03:31 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-84514 [...] Why Bother With Personal <b>Finance</b>? [...]

[...] Why Bother With Personal <b>Finance</b>? [...]

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]]> By: BxCapricorn http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-43874 BxCapricorn Fri, 12 Jan 2007 20:22:19 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-43874 Look at it this way. Something unexpected happens (it always does if you live long enough) and you need money. What if you could go to the garage and sell everything in it for the full retail price you paid for it, plus tax? What if I told you that you could even get 8% on top of the value, compounded annually from the time you bought it. Yep. The Soloflex, the Thigh Master, the Ginsu Knives, the blenders, Foreman Grillers, sports gear...all of it! Now you're starting to realize how your life differs from "comfortable" people. Look at it this way. Something unexpected happens (it always does if you live long enough) and you need money. What if you could go to the garage and sell everything in it for the full retail price you paid for it, plus tax? What if I told you that you could even get 8% on top of the value, compounded annually from the time you bought it. Yep. The Soloflex, the Thigh Master, the Ginsu Knives, the blenders, Foreman Grillers, sports gear…all of it! Now you’re starting to realize how your life differs from “comfortable” people.

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]]> By: Get Rich Slowly » Reader Story: Broken Window, Stolen Goods http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-12704 Get Rich Slowly » Reader Story: Broken Window, Stolen Goods Thu, 02 Nov 2006 16:35:02 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-12704 [...] My experience might help your readers who ask “why bother with personal finance?” Personal finance helped me. Had I not made sound savings plans, and had the know-how to check things after the theft, I would have been in a world of hurt. [...]

[...] My experience might help your readers who ask “why bother with personal finance?” Personal finance helped me. Had I not made sound savings plans, and had the know-how to check things after the theft, I would have been in a world of hurt. [...]

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]]> By: Manny http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-11910 Manny Fri, 27 Oct 2006 15:25:44 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-11910 One of my favorite books in this regards is Thomas Schweich's "Crashproof Your Life". He makes the point that few of us believe bad things will happen to us. Of course, they do. The goal is not to prevent the unfortunate accidents of life, but to build a strong financial structure to minimize the effects. Great book. One of my favorite books in this regards is Thomas Schweich’s “Crashproof Your Life”. He makes the point that few of us believe bad things will happen to us. Of course, they do. The goal is not to prevent the unfortunate accidents of life, but to build a strong financial structure to minimize the effects. Great book.

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]]> By: NLG http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-11547 NLG Tue, 24 Oct 2006 16:07:24 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-11547 I think another point to add is that this site and blogs like it are about sharing personal experiences related to personal finance. The ocmmenter indicates that the authors of GRS fall into the same pitfalls as everyone else. And that's naturally true, what separates the PFBlog community is that we share our experiences because we've learned from them and hope that others can learn from them too. NG I think another point to add is that this site and blogs like it are about sharing personal experiences related to personal finance.

The ocmmenter indicates that the authors of GRS fall into the same pitfalls as everyone else. And that’s naturally true, what separates the PFBlog community is that we share our experiences because we’ve learned from them and hope that others can learn from them too.

NG

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]]> By: Peter http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-11488 Peter Tue, 24 Oct 2006 02:14:03 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-11488 Exactly - managing your finances properly allows you to handle the setbacks and the unexpected without it causing undue hardship. It also allows you to take advantage of situations that you might not be able to because of "money problems". Most people think being "financially secure" is the same as being super-rich. I think it is more the idea of not having money (or lack of) rule your life. You don't have to be really wealthy to have the comforting feeling that you can handle an unexpected car reapir without it turning your life upside down. Exactly – managing your finances properly allows you to handle the setbacks and the unexpected without it causing undue hardship.
It also allows you to take advantage of situations that you might not be able to because of “money problems”.
Most people think being “financially secure” is the same as being super-rich. I think it is more the idea of not having money (or lack of) rule your life. You don’t have to be really wealthy to have the comforting feeling that you can handle an unexpected car reapir without it turning your life upside down.

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]]> By: Lazy Man and Money http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-11483 Lazy Man and Money Mon, 23 Oct 2006 23:15:06 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-11483 I think it's amazing, but I read something today about playing poker and made a post on my site. The point boils down to how each hand can be a winner or loser, but the key isn't to just give up. You have to minimize the losses on the losing hands and maximize the wins on the winning hands. Over time most people good and bad luck seems to balance out. One month you may get a raise and the next you get a flooded basement. Personal finance thought and planning allows you to take the maximum advantage of the raise and shows you how to save money on the flooded basement - or even to have the insurance to plan for the flooded basement ahead of time. Much like some professional poker players, play the game long enough and skill (or lack thereof) will shine through. I think it’s amazing, but I read something today about playing poker and made a post on my site. The point boils down to how each hand can be a winner or loser, but the key isn’t to just give up. You have to minimize the losses on the losing hands and maximize the wins on the winning hands.

Over time most people good and bad luck seems to balance out. One month you may get a raise and the next you get a flooded basement. Personal finance thought and planning allows you to take the maximum advantage of the raise and shows you how to save money on the flooded basement – or even to have the insurance to plan for the flooded basement ahead of time.

Much like some professional poker players, play the game long enough and skill (or lack thereof) will shine through.

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]]> By: gr8face http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-11479 gr8face Mon, 23 Oct 2006 22:55:32 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-11479 With me it seems as I get older it's harder to plan financially. My advice to young people would be do it now because it doesn't get easier. With me it seems as I get older it’s harder to plan financially. My advice to young people would be do it now because it doesn’t get easier.

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]]> By: Susan http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-11473 Susan Mon, 23 Oct 2006 22:20:40 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-11473 Life is always unpredictable. Personal finance is part of a general lifestyle, to me, that prepares for the unpredictable by living simply and sensibly the rest of the time. You can never prevent bad things from happening. I'm not after 'getting rich' so much as ensuring that I can live a rich and satisfying life without worrying about being able to pay the bills, even if I get hurt or sick. It's about spending a little bit of time with learning and preparation in order to save myself from the big stressors if I lose a job or have a car breakdown. And yes, it's very much worth it. I sleep better, certainly. Life is always unpredictable. Personal finance is part of a general lifestyle, to me, that prepares for the unpredictable by living simply and sensibly the rest of the time. You can never prevent bad things from happening. I’m not after ‘getting rich’ so much as ensuring that I can live a rich and satisfying life without worrying about being able to pay the bills, even if I get hurt or sick. It’s about spending a little bit of time with learning and preparation in order to save myself from the big stressors if I lose a job or have a car breakdown.

And yes, it’s very much worth it. I sleep better, certainly.

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]]> By: Allie http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-11464 Allie Mon, 23 Oct 2006 21:19:44 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-11464 I love to do the "little things" because to me, the big things are too hard to do or to think about. Saving money shopping wisely for clothes or for groceries is something that I can see work right away. For "big" things, I now have an emergency fund for my pets. Still working on one for myself. :) Last summer my horse managed to rip the lining out of his nose. None of us, including the vet, could figure out how he did this or where. He lives in a safe pasture with safe fencing. But $180 later, I was sure glad I had $300 set aside for just that kind of thing. Every little bit does help, I think. And just planning for things ahead of time, even if you are not all the way done with an emergency fund or whatever, can reduce stress when bad things do happen. You thought of this, so you already have a plan in place. I love to do the “little things” because to me, the big things are too hard to do or to think about. Saving money shopping wisely for clothes or for groceries is something that I can see work right away.

For “big” things, I now have an emergency fund for my pets. Still working on one for myself. :) Last summer my horse managed to rip the lining out of his nose. None of us, including the vet, could figure out how he did this or where. He lives in a safe pasture with safe fencing. But $180 later, I was sure glad I had $300 set aside for just that kind of thing.

Every little bit does help, I think. And just planning for things ahead of time, even if you are not all the way done with an emergency fund or whatever, can reduce stress when bad things do happen. You thought of this, so you already have a plan in place.

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]]> By: RSN http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/comment-page-1/#comment-11462 RSN Mon, 23 Oct 2006 20:53:56 +0000 http://www.getrichslowly.org/blog/2006/10/23/why-bother-with-personal-finance/#comment-11462 Exactly right. One of the things that has most motivated me to get on top of the financial pile was the fact that when bad things happened, I was totally blind sided. We were consistently thrown into debt spirals as soon as something that cost more than about $250.00 went wrong or broke. Being sound financially is about being able to handle what life throws at you instead of being thrown by it. Exactly right. One of the things that has most motivated me to get on top of the financial pile was the fact that when bad things happened, I was totally blind sided. We were consistently thrown into debt spirals as soon as something that cost more than about $250.00 went wrong or broke. Being sound financially is about being able to handle what life throws at you instead of being thrown by it.

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