Later On

A blog written for those whose interests more or less match mine.

Self-congratulatory post

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I’m extremely pleased with the comments that have been posted on the “Managing Your Money” post. Apparently the Excel workbook (downloadable via a link in the post) has worked well for some. I think the key is that it surfaces the implicit spending involved in gradually wearing out possessions that must, someday, be replaced and provides for automatically saving the replacement money so that, when the day comes, no crisis erupts.

I now would suggest that you save this money via automatic transfer to ING Direct. (Last I checked, passbook savings accounts in regular banks paid 1/10th of 1% interest per year.) As the money accumulates, transfer it to one of Vanguard‘s low-fee balanced funds. (For most of their funds, “low-fee” becomes “no-fee” once you have $10,000 in the fund.)

At any rate, take a look at the post and give the workbook a try. It might prove helpful.

Written by Leisureguy

2 November 2007 at 9:56 am

Posted in Daily life

Tagged with , ,

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