Comments on: Managing Your Money Vs. Micromanaging Your Money http://www.consumerismcommentary.com/2008/06/23/managing-your-money-vs-micromanaging-your-money/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 08 Nov 2009 07:50:42 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Brian http://www.consumerismcommentary.com/2008/06/23/managing-your-money-vs-micromanaging-your-money/#comment-158851 Brian Mon, 23 Jun 2008 18:56:28 +0000 http://www.consumerismcommentary.com/?p=3368#comment-158851 I am observing this same thing happening with a person close to me, and am having to bite my tongue. This person is buying a house in a town they don't like, that is 25 minutes farther away from where they and their partner work, and which they're planning on living in for less than five years. They believe that "you have to get on the real estate merry-go-round some time" and that "now's the time to buy". I've given my advice, and now it's time for me to stand aside and be happy for them. I am observing this same thing happening with a person close to me, and am having to bite my tongue. This person is buying a house in a town they don’t like, that is 25 minutes farther away from where they and their partner work, and which they’re planning on living in for less than five years. They believe that “you have to get on the real estate merry-go-round some time” and that “now’s the time to buy”.

I’ve given my advice, and now it’s time for me to stand aside and be happy for them.

]]> By: Flexo http://www.consumerismcommentary.com/2008/06/23/managing-your-money-vs-micromanaging-your-money/#comment-158806 Flexo Mon, 23 Jun 2008 13:57:30 +0000 http://www.consumerismcommentary.com/?p=3368#comment-158806 UH2L: Quite right! You'd have to cut back on 16,000 $4 lattes, or one a day for almost 44 years, to achieve $64,000 in savings (not taking interest into account). UH2L: Quite right! You’d have to cut back on 16,000 $4 lattes, or one a day for almost 44 years, to achieve $64,000 in savings (not taking interest into account).

]]> By: UH2L http://www.consumerismcommentary.com/2008/06/23/managing-your-money-vs-micromanaging-your-money/#comment-158805 UH2L Mon, 23 Jun 2008 13:50:13 +0000 http://www.consumerismcommentary.com/?p=3368#comment-158805 Good point to the post. Some people worry about spending on small things when if they saved on the big things, they could buy lots more of the small things, still save money, and not feel pinched. Homes are one example, but cars, when leased or traded in often can lead to a large loss in money. Also, if you drive a car for 30 years that averages 25 mpg versus an SUV or pick-up that averages 15 mpg at a moderated 12,000 miles per year and earn only 3% interest on the money for gas at an average of only $2.25 a gallon, (considering past price history), you would have an extra $37,000 in your bank account at the end. If you go to 15,000 miles per year, $2.75 per gallon average and earned 4%, the savings would be $64,000! Good point to the post. Some people worry about spending on small things when if they saved on the big things, they could buy lots more of the small things, still save money, and not feel pinched. Homes are one example, but cars, when leased or traded in often can lead to a large loss in money. Also, if you drive a car for 30 years that averages 25 mpg versus an SUV or pick-up that averages 15 mpg at a moderated 12,000 miles per year and earn only 3% interest on the money for gas at an average of only $2.25 a gallon, (considering past price history), you would have an extra $37,000 in your bank account at the end. If you go to 15,000 miles per year, $2.75 per gallon average and earned 4%, the savings would be $64,000!

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