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A place for Get Rich Slowly readers to ask questions
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It is currently Fri Oct 31, 2014 4:41 am




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 Post subject: Economic Introduction
PostPosted: Mon May 30, 2011 3:29 pm 

Joined: Mon May 30, 2011 3:20 pm
Posts: 3
Seems as good a place as any.

So I consider myself pretty successful economically, even though I'm nowhere near rich. To be honest, I have no idea how more people aren't economically stable, but that's another thread, I suppose.

So, I've owned my own house for five years now and am about to put myself through college. I have no debt other than my house (and I have plenty of equity at this point). Additionally, I have five children and a sixth on the way.

I know very little about economic theory, but I feel I can safely attribute my success to simple frugality. I'm still able to afford expensive things (such as Ableton 8 Suite :D), though it does take a while to save up (I've been upgrading that program about once a year for about five years).

I do get some family support, which helps, though it only really amounts to a couple hundred dollars per birthday/Christmas, and of course I spend more than that on the kids and a decent (though not stellar) loan when I bought my house.)

It's nice to be here. Thank you.


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 Post subject: Re: Economic Introduction
PostPosted: Mon May 30, 2011 4:09 pm 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1201
Welcome. Glad you're here.


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 Post subject: Re: Economic Introduction
PostPosted: Mon May 30, 2011 4:10 pm 
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Joined: Wed Sep 23, 2009 9:01 am
Posts: 5398
Yes, welcome!

I hope you are well insured and have a very large emergency fund. With 6 kids you are just asking for an unexpected medical expense or something like that.

And what about college? How much are you saving for their college?


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 Post subject: Re: Economic Introduction
PostPosted: Tue May 31, 2011 11:27 am 

Joined: Mon May 30, 2011 3:20 pm
Posts: 3
Oh, I don't live in one of those silly countries where I have to worry about medical expenses.

The kids can pay for their own college.


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 Post subject: Re: Economic Introduction
PostPosted: Wed Jun 01, 2011 7:04 am 
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Joined: Wed Sep 23, 2009 9:01 am
Posts: 5398
punkbass wrote:
Oh, I don't live in one of those silly countries where I have to worry about medical expenses.

Then you do have it covered!


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 Post subject: Re: Economic Introduction
PostPosted: Wed Jun 01, 2011 11:03 am 

Joined: Mon May 30, 2011 3:20 pm
Posts: 3
Indeed. :D

Perhaps I should start a new thread, but have you guys read "The Cartoon Introduction to Economics" by any chance? It just came out last year, but it's doing a fantastic job of putting words to many ideas which I intuitively understand, from marginal analysis to different auction type to dominant strategy. Of course, my understanding is not in-depth at all, but it has been helpful. My familiarity with Game Theory is also proving beneficial.


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