3 ms·

Do you have sufficient disposable income that you don't notice a $20 bill coming either out of your bank or credit card for an entire year? I would wager that

Do you have sufficient disposable income that you don't notice a $20 bill coming either out of your bank or credit card for an entire year? I would wager that you need to pay more attention to your finances. As the old addage says, "look after the pennies, and the pounds will look after themselves"!

chipotle_coyote 8y ago
While that sounds crazy on the surface, it really isn't. For one thing, your necessary household expenses (rent, food, utilities, etc.) don't generally scale linearly with your individual income; your expenses don't double when your income does. For another, absolute value, not just percentage, matters. Spending an extra $240 a year matters a lot if you're making $25K; if you're making $150K, it matters, well, less. I always heard adages and advice about "watching pennies." In practice, though, I've found that I'm far better off looking after the pounds and not worrying about the pennies: that is to say, set up savings targets that get treated like necessary expenses, and to not worry too much whether lunch is $7 or $12.
ethagknight 8y ago
I totally agree, and usually do. My wife was not happy about spending $240 on Phish :) My point is that it is very complicated to track everything. My household of 5, my businesses, my recreation. I guess the way to wrap up my gp comment is that Apple could move into this space becoming a major value driver to consumers.
- 72deluxe 8y ago
  I can imagine it is very hard tracking that! Is there a way you could split each area to a separate account/card so that you can spot odd spendings? eg. recreation on one, business on another, food on another, fuel on another, general household/mortgage/insurance on another, and then another for miscellaneous ? Sounds like an opportunity for an app of sorts....

3 ms·

Do you have sufficient disposable income that you don't notice a $20 bill coming either out of your bank or credit card for an entire year? I would wager that

by 72deluxe 8y ago

chipotle_coyote 8y ago
While that sounds crazy on the surface, it really isn't. For one thing, your necessary household expenses (rent, food, utilities, etc.) don't generally scale linearly with your individual income; your expenses don't double when your income does. For another, absolute value, not just percentage, matters. Spending an extra $240 a year matters a lot if you're making $25K; if you're making $150K, it matters, well, less. I always heard adages and advice about "watching pennies." In practice, though, I've found that I'm far better off looking after the pounds and not worrying about the pennies: that is to say, set up savings targets that get treated like necessary expenses, and to not worry too much whether lunch is $7 or $12.
ethagknight 8y ago
I totally agree, and usually do. My wife was not happy about spending $240 on Phish :) My point is that it is very complicated to track everything. My household of 5, my businesses, my recreation. I guess the way to wrap up my gp comment is that Apple could move into this space becoming a major value driver to consumers.
- 72deluxe 8y ago
  I can imagine it is very hard tracking that! Is there a way you could split each area to a separate account/card so that you can spot odd spendings? eg. recreation on one, business on another, food on another, fuel on another, general household/mortgage/insurance on another, and then another for miscellaneous ? Sounds like an opportunity for an app of sorts....