Congratulations on Your Debt

we get rewarded for debtThe salesman said it.

The sales manager said it.

The finance lady said it.

Even the insurance company rep said it.

“Congratulations on your new vehicle.”

I wondered if it was part of the post-sale script, part of the plan to eliminate buyer’s remorse.

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More Time or Money?

Do you have more time or money?Do you have more time or money?

The correct answer is “money.”

Even if your balance is $0. Or -$278,000.

Because money is replaceable, time is not.

So if you can use money to free up time, it’s often the wisest course of action.

BUT, before you can apply this principle strategically, you need to establish a value for your time.

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Saving vs Investing 2

saving money versus buying a courseIn a recent post I suggested that instead of putting away a few thousand dollars at low interest you might want to write a book.

That’s been one of the best investments I’ve ever made, both in dollars and cents and in personal growth.

Here’s something else I’ve done that has paid off in both areas as well:

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Saving vs Investing

Release, A Wilderness Adventure of the Soul, by Daren Wride
My First Book: Release

Came across an article on savings and compound interest. The author’s intent was to encourage savings by showing the power of compound interest.

The chart in the article showed how a $200/month investment at 3.5% would lead you to save $24,200 over ten years, and gain an extra $4853 in interest, for a total savings of $29,053.


Didn’t make me want to save any more.

How about this:

  • Write a book
  • Self-publish
  • Print 1000 copies for a total cost of about $5 bucks each. That includes cover design and layout and editing. And probably delivery to you.
  • Sell 250 books at $20 to cover your costs

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Sunk Costs Revisited or The Value of Trust

Transmission fluid on the floor
Transmission fluid in my underground parking spot.

Recently, I posted about some repairs to The Beast, my 2002 F150 pickup.

I used the story of a major repair followed by the need for a second major repair as an example of sunk costs and how to decide whether to keep spending or cut your losses.

The Beast now has a solid front end, a new (used) transmission, and runs beautifully.

Except that the transmission leaks.

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