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I feel like there are some really good core principles that could be extracted from this. There's a really strong tendency to overstate the importance of repeat
by _ea1k 3y ago
I feel like there are some really good core principles that could be extracted from this. There's a really strong tendency to overstate the importance of repeated expenses and understate the absolutely critical nature of strategic expenses.
The financial world is littered with bad advice in this area.
Maybe it is time for something like a new motley fool to encourage appropriate foolishness.
- akira2501 3y agoTo me the core idea is just keep a double entry ledger. This not only helps you observe all your transactions and their cost centers, but it allows you to put long term spending habits into perspective. To your point, it allows you to correctly measure the value of your recurring expenses, and it gives you the confidence necessary to spend strategically. Maybe it is time for schools to teach exceptionally basic and incredibly useful life skills.