The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: Your Money or Your Life||Date: 7/26/2000 11:29 PM|
|Author: trailerdwlr||Number: 13868 of 778735|
I concur with Terrynor (#13799) re: my experience of the value of doing the exercises, however I'm a latecomer to this computer stuff, so I've kept my figures in the "Ideal Family Tax Record" budgeting book for over 15 years, and made my "what if" projections using a hand calculator and many pencils and yellow tablets. Even so, I figure once I set it up, I probably spend one hour a month keeping track of 99.99% of the money, and another hour once every three months keeping track of my net worth (usually a pleasant experience).
The calculation of how much money I made over the course of my life allowed me to recognize that some of the early funds were gifts, and to thank the givers while they were still alive. That was worth every minute.
Once I calculated a years worth of expenses to the penny, and compared the actual figures to those given by rounding off to the nearest dollar. (The rule I used was: $0.49 +<, round down, $0.50 +>, round up) The difference was $0.23 from some $60,000+. YMMV
Those who have more interest in following the steps can find lots of discussion over at www.simpleliving.net on the Nine Steps Discussion Board.
RE since 1998
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|