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What was the biggest gap in his understanding of his own accounts? Suppose I work a regular office job. If I make $X, but pay out $Y in child care and other e
by dogruck 9y ago
What was the biggest gap in his understanding of his own accounts?
Suppose I work a regular office job. If I make $X, but pay out $Y in child care and other expenses (commute/car), then it won’t take me long to notice if $X =~ $Y.
Was the biggest gap unaccounted expenses for his car?
- foolinaround 9y agoin his case, he never put together all of the numbers. For instance, it did not even strike him that if he stayed at home, he would not have to incur the childcare expense. That was the biggest change. Also, he factored in the petrol, but not the vehicle depreciation cost. Also, there was lost opportunity in studying and improving his skills, and we just did not put a price to it. He had this nagging doubts, but the pressure of a male sitting at home and not earning - lead to family esteem issues, and so he went along.
- dogruck 9y agoInteresting, thanks for replying with the details. What would happen if people fully quantified other activities. For example, the full cost of drinking, while watching your favorite sport, with friends. You initially think, “so what, it’s just 3 hours, plus $25 in beer and food.” Most don’t account for the missed opportunity cost.