Comments on: The Life & Times Of A Financial Wizard

By: SteveYoungs

SteveYoungs — Thu, 21 Jan 2010 07:29:23 +0000

Nice tip, Ben. Now how do I explain that to my hedonistic wife who completely doesn’t grasp the idea of delayed gratification?

Seriously though, it is a great tip, and something that I think I’ll try.

Thanks, mate!

By: Ben

Ben — Thu, 21 Jan 2010 06:17:09 +0000

Something that works well for me is the 30 day rule

If you really want something – wait 30 days. If you still really want it after that and the funds are there then buy it.

Most impulses for something go after a week or so.

By: SteveYoungs

SteveYoungs — Thu, 21 Jan 2010 00:58:35 +0000

You’re lucky! I have 2 kids that say to me every time I leave the house… “can you buy me a treat, daddy?”, and a wife whose eyes glaze over whenever you mention the words “shoe shop”.

Glad you liked the article, Eleanor, and thanks very much for the re-tweet.

By: Eleanor Edwards

Eleanor Edwards — Thu, 21 Jan 2010 00:11:36 +0000

Hi Steve,
Great post. I love the practical advice, really helps to see it all laid out pretty and explained so well. I am generally excellent with money – excellent at spending it

Seriously though, I am married to a very careful spender. It’s taken 10 years of marriage and three children but we’re finally reaching a point where we can negotiate our family spending to everyone’s satisfaction. That said, I’ll reserve judgement until the little one’s hit the teenage years

Excellent article, re-tweeting now.

By: Ralph

Ralph — Wed, 20 Jan 2010 16:52:27 +0000

Steve,
Thanks for visiting and leaving a comment. Now that I have a start at a budget, I’ll have to keep coming back to make sure that I don’t cheat myself.

By: SteveYoungs

SteveYoungs — Wed, 20 Jan 2010 03:02:44 +0000

Hi Ralph!

Yep, one of the keys to making it work, aside from an absolute rock hard commitment, is to continually review and update it.

Thanks for stopping by, Ralph. Hope to see you back again soon.

Kind regards,
Steve

By: Ralph

Ralph — Wed, 20 Jan 2010 02:01:13 +0000

Right on. I have always avoided a budget and as a result never had any savings or money for vacations. Now I am starting a budget and it is clear that the key is checking each month and making corrections to stay within it.

By: SteveYoungs

SteveYoungs — Wed, 20 Jan 2010 00:16:24 +0000

BTW, James, did you really mean: £75 which is about $130 Australian? That’s close to what we spend per week too.

By: SteveYoungs

SteveYoungs — Wed, 20 Jan 2010 00:10:25 +0000

Too many people have a “want it now” attitude to everything. They look at people who seem to have everything and they forget that these people have worked long and hard to get where they are.

The banks and finance companies are not helping the situation either, not with their eagerness to give us credit and loans at ridiculous interest rates.

Steve’s Law: Never borrow money for anything that depreciates in value. Or, to put it another way… only borrow for investment purposes.

By: SteveYoungs

SteveYoungs — Tue, 19 Jan 2010 23:43:49 +0000

Hi Erica!

Thanks for stopping by. Yes, the message in that book can honestly change your life.

Hope to see you again soon.
Kind regards,
Steve.