tag:blogger.com,1999:blog-14245531.post116827555851805591..comments2023-11-18T01:21:55.631-05:00Comments on My Open Wallet: Question from a Reader: Expenses & EducationMadame Xhttp://www.blogger.com/profile/11536189690094235926noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-14245531.post-1169567710672659512007-01-23T10:55:00.000-05:002007-01-23T10:55:00.000-05:00If you can use Quicken for 6 months I guarantee yo...If you can use Quicken for 6 months I guarantee your initial cost for a Palmpilot and Pocket Quicken will be paid for at least 3 times over. I mention Pocket Quicken because it syncs with Quicken on the desktop. <BR/><BR/>The hard part about Quicken/tracking expenses is sticking to it. It's a lifestyle change, which isn't easy to do. I did it for one year (once) and have been trying to get back to that point ever since... <BR/><BR/>P.S. Vacations REALLY screw up your expense tracking. Don't fall off your path...clem clementshttps://www.blogger.com/profile/13304373123984224221noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1169045890927711572007-01-17T09:58:00.000-05:002007-01-17T09:58:00.000-05:00I hate to be picky, but I think rule #2 should be ...I hate to be picky, but I think rule #2 should be its converse. To be truly successful financially, you need to invest first and then spend the money you're not investing! Otherwise, you could easily end up living below your means with a piddling amount of investments.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1168792548600462372007-01-14T11:35:00.000-05:002007-01-14T11:35:00.000-05:00This is one of my favorite financial blogs. You ma...This is one of my favorite financial blogs. You make the posts that save me from having to, and are a better writer to boot. I would just like to add a small tweak to rule#2 "Only invest in things that you understand."<BR/><BR/>You should complete the list of 15 and write a book. Also my previous entry didn't get on yesterday? How much do you spend on books yearly? What category does it fall under?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1168789386169705972007-01-14T10:43:00.000-05:002007-01-14T10:43:00.000-05:00Thanks Madame X!!! It totally made my day to find ...Thanks Madame X!!! It totally made my day to find your thorough response!! <BR/><BR/>(And as for how I record my spending, I currently use an IC recorder so I don't stumble into walls while trying to jolt down the numbers.)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1168665331069886082007-01-13T00:15:00.000-05:002007-01-13T00:15:00.000-05:00You and Flexo are my expense tracker role models.A...You and Flexo are my expense tracker role models.<BR/><BR/>Actually, I'm sure tracking spending on a PDA would save me $50 in a year easily. (Providing I don't lose it.)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1168627294177501362007-01-12T13:41:00.000-05:002007-01-12T13:41:00.000-05:00Keeping up with daily expenses is quite an eye-ope...Keeping up with daily expenses is quite an eye-opener. I thought that I was pretty diligent with my spending. It turns out that the "little" expenses can add up very quickly. <BR/><BR/> I track my expenses with a simple excel spreadsheet. <BR/> - It is mobile (w/ a floppy, flash disk or email it can be transported easily to other computers / places). <BR/> - It is inexpensive (Excel comes with most new computers). <BR/> - And with some basic Excel knowledge the file can be set up and modified to adapt to my needs. <BR/><BR/>As others have already pointed out, your blog is an entertaining read and even serves as a catalyst for further financial research. <BR/><BR/>Keep up the good work.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1168561852891615282007-01-11T19:30:00.000-05:002007-01-11T19:30:00.000-05:00Looking for a new accountant in the NY area...do y...Looking for a new accountant in the NY area...do you have any recommendations?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1168550714640144372007-01-11T16:25:00.000-05:002007-01-11T16:25:00.000-05:00I don't have a degree at all, but am financially a...I don't have a degree at all, but am financially ahead of almost all my friends and family (attorneys and doctors included). Living below your means is the key. My wife and I sit together at the computer to enter our expenses. Keeps us on the same page, and gives us some together time.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1168533153041478072007-01-11T11:32:00.000-05:002007-01-11T11:32:00.000-05:00I completely agree with English Major -- I was lib...I completely agree with English Major -- I was liberal arts all the way and feel far ahead of some of my chums, even the business ones. I think financial sense has more to do with personality, common sense, and upbringing than it does with formal education. <BR/><BR/>Ditto on the clever writing! It's always a very entertaining read!The Financistahttps://www.blogger.com/profile/15506738745877411384noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1168526297670550172007-01-11T09:38:00.000-05:002007-01-11T09:38:00.000-05:00CleverDude-- yes, for some people, buying a PDA ju...CleverDude-- yes, for some people, buying a PDA just to enter expenses may not be the best choice, even if used ones are cheap on EBay, but the key thing is to find something that makes it really easy for you to do the entering and tracking, so you'll actually follow through with it. Personally, I tried using notebooks and could never stick with it. So although I spent WAY more than $150 on my Palm, it was well worth it for me, because I use it for so many other things in addition to tracking my finances.Madame Xhttps://www.blogger.com/profile/11536189690094235926noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1168482072627999042007-01-10T21:21:00.000-05:002007-01-10T21:21:00.000-05:00But spending $50-150 on a Palm isn't a very wise e...But spending $50-150 on a Palm isn't a very wise expense just to track where some dollars and cents are going, is it?<BR/><BR/>I like the alternative of a notepad you can buy at the dollar store. Heck, just grab any spare slip of paper and just discipline yourself to enter it into your home tracking software (excel, quicken, etc.) before you forget about it.<BR/><BR/>I personally put all receipts into my wallet, not in my pockets, bag or garbage can. One to three times a week I enter it all into Quicken. I have to take the next step and track cash expenses too, though.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1168482002866365732007-01-10T21:20:00.000-05:002007-01-10T21:20:00.000-05:00I had a very thoroughly liberal-arts education, iv...I had a very thoroughly liberal-arts education, ivory-tower in the extreme, and I don't find myself much behind my friends in terms of financial knowledge. Even the economics majors. I think there are some things that you can only learn by doing, and I think that organizing one's own financial life is one of them.<BR/><BR/>I certainly agree with the commenter about your smooth prose, though!English Majorhttps://www.blogger.com/profile/00276582833751319518noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1168454824614282472007-01-10T13:47:00.000-05:002007-01-10T13:47:00.000-05:00This is great advice. I try to follow it and it w...This is great advice. I try to follow it and it works. <BR/><BR/>I'm so glad you posted how you track it because I have been thinking about doing that myself. I don't really track what I'm spending, but I need to start... I am going to have to get a PDA. I had one, but it died last year and I've never replaced it. Let the comparison shopping begin!!Stephaniehttps://www.blogger.com/profile/09182054237708585905noreply@blogger.com