Comments on: Take Control of Your Finances Part 1-C: Make Accurate Predictions http://www.consumerismcommentary.com/2008/11/12/take-control-of-your-finances-part-1-c-make-accurate-predictions/ 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: Flexo http://www.consumerismcommentary.com/2008/11/12/take-control-of-your-finances-part-1-c-make-accurate-predictions/#comment-185949 Flexo Thu, 13 Nov 2008 01:13:32 +0000 http://www.consumerismcommentary.com/?p=4535#comment-185949 Dan: In the example above, there is no room for savings or investing after discretionary expenses. That, as you can imagine, is a big problem. The example here might be typical of someone living paycheck-to-paycheck. I would include a category below discretionary expenses and net income for transfers to savings/investments. In fact, in the example above, the individual would have to <em>draw</em> $175 <em>from</em> savings just to pay all expenses. Dan: In the example above, there is no room for savings or investing after discretionary expenses. That, as you can imagine, is a big problem. The example here might be typical of someone living paycheck-to-paycheck. I would include a category below discretionary expenses and net income for transfers to savings/investments. In fact, in the example above, the individual would have to draw $175 from savings just to pay all expenses.

]]> By: Dan http://www.consumerismcommentary.com/2008/11/12/take-control-of-your-finances-part-1-c-make-accurate-predictions/#comment-185946 Dan Thu, 13 Nov 2008 01:05:44 +0000 http://www.consumerismcommentary.com/?p=4535#comment-185946 I noticed that the non-discretionary and discrentionary data is the same that use in your monthly reporting. It's nice to understand how you arrive at that data. But the one area that I don't see is for a persons IRA, 401K, or ESPP. When is that money taken out or where/how is it assigned? It isn't like you can say that you had a net income so you placed the net income in these funds because those IRA, 401K, or ESPP plans are taken out as if it was money flowing out. I noticed that the non-discretionary and discrentionary data is the same that use in your monthly reporting. It’s nice to understand how you arrive at that data. But the one area that I don’t see is for a persons IRA, 401K, or ESPP. When is that money taken out or where/how is it assigned?

It isn’t like you can say that you had a net income so you placed the net income in these funds because those IRA, 401K, or ESPP plans are taken out as if it was money flowing out.

]]>