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Friday, March 16, 2007Are you ready for the next recessionI've been reading articles about the upcoming recession and the one posted by CV Rick yesterday is a good one if you want information on one of the causes of the recession. It says that it puts in plain English for readers but I think I can put it plainer. The market is going to be resetting after a... Sign in to see full entry.Thursday, March 15, 2007Cheating on disciplineMy plan could take a lot of discipline. I read an article yesterday where the author made a couple of comments about how difficult it is to stick to a plan like this. My wife and I cheat. We track all the money that we spend so we have a fairly good idea about how much it's going to cost to get us... Sign in to see full entry.Wednesday, March 14, 2007Have you seen this game? Have you played it?Many people keep their debt at the highest level that they can. If they have enough money to afford the low, low, monthly payment, they buy. When they reach the point that they can no longer afford to do that, they have to go to plan B or plan C. Plan B is the refi. Take out the equity in your house... Sign in to see full entry.Tuesday, March 13, 2007My point and I do have oneI never read the book by Ellen Degeneres but I have always remembered the title because I tend to take the scenic tour to points that I want to make. So, here we are coming back around on emergency funds, why I build mine up slowly, don't worry about the 3 to 6 month advice, and probably won't touch... Sign in to see full entry.Monday, March 12, 2007A couple more thoughts on emergency fundsI suppose that the 3 to 6 months of savings in case you lose your job is a good idea but here are a couple of things to consider. The reason you need 3 to 6 months of savings is not because you won't be able to find another job before then. It's because it might take you that long to find one that... Sign in to see full entry.Sunday, March 11, 2007Your emergency fundMy wife and I put money aside into savings in case of emergencies. Right now, it's a very small amount and the emergency fund is growing very slowly. About a third of the money that we count as our savings (which includes investments) goes toward the emergency fund. I have read some articles where... Sign in to see full entry.Wednesday, March 7, 2007One more minor disappointmentI say it's minor because it's something completely in our control and after reviewing our situation last night, it's something that we aren't going to change for now. We only put 5% of our money into savings, investments, and my 401k last month. The previous month, it was closer to 10%. The only... Sign in to see full entry.Tuesday, March 6, 2007Last week's and last month's numbers were a bit disappointingI can see some things in the numbers and my wife and I will be looking them over tonight to talk about them. Last week, we moved ahead overall but barely. We did good on paying down our debts but we ended up with much less money than normal. Part of that was because the electricity bill was... Sign in to see full entry.Wednesday, February 28, 2007Why I share my numbersThe progress we are making is probably better than some and no doubt worse than others. I share my progress because it allows me to put real numbers behind my plan. It's an example of what can be done. The numbers should get better and better and I don't do this to brag. Anyone who follows this plan... Sign in to see full entry.Tuesday, February 27, 2007How about some more numbers?Well, why not? Last night I pulled all the numbers that we compile each week for our weekly meeting. What do we have? What do we owe? How much progress did we make this week? All that good stuff. And then I plugged those numbers into networthiq for February since nothing is going to change between... Sign in to see full entry. |
