The Get Rich Slowly discussion forums generate a lot of great conversations in which readers do their best to help each other. Alas, I don’t get a chance to stop by as much as I’d like. Fortunately, forum administrator Jericho Hill has agreed to highlight interesting discussions now-and-then. This week, he recommends:
- Amyrobynne has both debt to pay down and a goal to renovate her home. She asks, with those competing goals, how do you budget for a home improvements?
- Jarvis wants to invest in mutual funds but doesn’t quite feel comfortable. His cousins say to invest in real estate. The GRS community chimes in, mostly in favor of index funds for this new investor.
- Shaun wonders what to do when there’s nothing left to talk about. How do you deal with communication trouble with a spouse? How can you communicate with someone who doesn’t have many opinions?
Meanwhile, I’ve enjoyed the following articles from around the web:
Lazy Man recently asked, “Should you put a price on your health?” He does a great job of breaking down the components of this question. What is healthy? How much health is worth how much money? What about the law of diminishing returns? Like Lazy Man, I’ve recently realized that I am willing to spend money on health, but it’s often difficult to know where to draw the line. Improved nutrition is good. But is spending $300 on a heart-rate monitor a justifiable expense?
Bloomberg reports that one-third of U.S. homeowners who bought in the past five years now owe more on their mortgages than their properties are worth. It’s easy to get down on people for getting greedy during the housing bubble, but the truth is many average folks were just shopping for a place to live. Now a large number of these folks find themselves in trouble.
Finally, Flexo at Consumerism Commentary polled his readers: Is finding $6,000 in saved expenses better than a raise? I’d take the $6,000 in savings because that money comes after taxes. As Flexo notes, you’d need a raise of about $10,000 to equal $6,000 in saved expenses. This is why frugality is so powerful. Roughly speaking, every dollar you save in spending is like two dollars you’ve earned. (Or at least $1.50.)
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This article is about Spare Change