Comments on: Opportunity and Its Cost

By: Patrenia

Patrenia — Thu, 17 Jun 2010 02:37:34 +0000

I guess this fits the scenario of “different strokes for different folks”. You have found a great system that works for you. Me? I have to have categories so that I make sure I don’t overspend in a particular area which helps me to be ready for those unexpected opportunities. Thanks so much for the comment!

By: Moneymonk

Moneymonk — Mon, 14 Jun 2010 20:21:56 +0000

I currently save 30% of my income, have no debt but a mortgage. I find it easier to take off 30% of my income and live off the rest. I hate budgeting and tracking every penny

By: Patrenia

Patrenia — Fri, 11 Jun 2010 02:17:04 +0000

Hmmm…talk about living large!!! I don’t know where we get the feeling that we have to have “it” NOW! Maybe it’s time that we start recognizing the symptoms of the “gotta have it” I ’tis and learn to control them by becoming more present and consciously aware. Dare I suggest even spiritual. I think most of the problems we have are deep rooted habits that have gotten out of control. Surely not the final answer, but just kinda thinking out loud.

By: Prosechild

Prosechild — Thu, 10 Jun 2010 15:08:41 +0000

“If I remember correctly, they were spending over $10-20,000 per year just eating out.”
holy sh*t… thats alot of steak!!!! WOOOOWWW *Flavor Flav voice*

“But if for some reason there is an opportunity you miss due to misguided past choices, don’t beat yourself up. We’ve all fallen victim. You’ll just know to make better decisions in the future and next time, you’ll be ready when opportunity arises.”

this part is akin to quitting smoking for me. The urge for instant gratification is so strong, but I’m fighting it. And beating yourself up is tempting too b/c its like an instant gratification for making changes. You have to be doing better if you lecture yourself, right? But its easy to not take action after doing so…

By: Patrenia

Patrenia — Thu, 10 Jun 2010 01:42:38 +0000

Thanks Khaleef. Glad to know that I’m not rocking in this boat by myself! I know there are more out there though…

By: Khaleef @ KNS Financial

Khaleef @ KNS Financial — Wed, 09 Jun 2010 19:46:28 +0000

Opportunity Costs is one of the first concepts that I learned in studying economics. I think it’s a great idea to evaluate most decisions by measuring the value of your next best option (which is the textbook definition). If we did this consistently, we would avoid many of the foolish decisions that we make.

Oh, and I know how you feel about measuring your debt and wondering what it was spent on.