Comments on: 5 Good Reasons Not To Save Money

By: Wojciech Kulicki

Wojciech Kulicki — Mon, 25 Jan 2010 21:43:51 +0000

Sorry to hear that…and I respectfully disagree (see above).

By: Douglas

Douglas — Mon, 25 Jan 2010 21:20:51 +0000

This post confuses me. You should always be saving money.

By: » Weekly Roundup: The Internet is Getting Expensive Edition @ fivecentnickel.com

» Weekly Roundup: The Internet is Getting Expensive Edition @ fivecentnickel.com — Thu, 21 Jan 2010 03:54:33 +0000

[...] When Not to Save Money [...]

By: Wojciech Kulicki

Wojciech Kulicki — Sun, 17 Jan 2010 19:26:43 +0000

Another excellent reason that I did not mention! (We had to stop this month to prepare for paying off my wife’s hospital stay as well).

By: Ron

Ron — Sat, 16 Jan 2010 19:09:46 +0000

It all boils down to personal priorities. Too many times someone will get dogmatic about personal finance — and at that point it’s no longer “personal.” That’s not to say there aren’t very good rules of thumb, however!

I have a daughter with an inherited autoimmune disease. Sometimes my personal savings plans get put on hold in anticipation of her medical treatments. Insurance covers most of it, but not all.

By: Wojciech Kulicki

Wojciech Kulicki — Sat, 16 Jan 2010 18:53:56 +0000

I’m currently using YNAB as well, so I hear you about the importance of living on last month’s income! By the way, congratulations once again on becoming debt-free!

By: Paul @ FiscalGeek

Paul @ FiscalGeek — Sat, 16 Jan 2010 05:19:29 +0000

I'm definitely onboard, we put a break on all saving to bust our non-mortgage debt, starting next month we really begin to get the emergency fund going to full strength and onward and upward. Your categories are great, the buffer is important too and builds a lot of security. I use You Need a Budget (software) and it's built around the idea that you're budgeting next months money. Now that we are debt free I'm going to operate on that notion so I have an entire months salary sitting in our budget so we can just worry about next month. A nice place to be. .-= Paul @ FiscalGeek´s last post: We’re Debt Free! =-.

By: Wojciech Kulicki

Wojciech Kulicki — Sat, 16 Jan 2010 05:07:55 +0000

I’m a big fan of BofA’s program (although not a big fan of BofA). Personally, we have the Wachovia Way2Save, which does something similar–withdraws $1 for every check card transaction and bill pay made.

By: Wojciech Kulicki

Wojciech Kulicki — Sat, 16 Jan 2010 05:04:25 +0000

Two awesome examples, Len. I was actually thinking of putting business opportunities on the list, so I’m glad you mentioned it.

By: Len Penzo

Len Penzo — Sat, 16 Jan 2010 02:45:03 +0000

Hey, New Daddy!

How about unexpected opportunities? Maybe somebody is having a fire sale and they’re practically giving away some large ticket items at an unbelievable price. Or maybe you have a chance to get in on the ground floor on a business opportunity. By all means, take the foot off the savings accelerator for a few months if need be.

There are just as many potential opportunities out there to capitalize on as there are risks that could require us to tap into those savings!

Best,

Len
Len Penzo dot Com
.-= Len Penzo´s last post: Drive-By Movie Review: The Taking of Pelham 1 2 3 =-.