Comments on: Do You Overlook the Indirect Costs? http://www.mydollarplan.com/consider-the-full-cost/ because money doesn't grow on trees Tue, 07 Feb 2012 15:59:33 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: ParisGirl111 http://www.mydollarplan.com/consider-the-full-cost/#comment-10356 ParisGirl111 Wed, 10 Feb 2010 20:43:25 +0000 http://www.mydollarplan.com/?p=1092#comment-10356 My rule of thumb is to estimate the amount you will need for a project or purchase, and then at 1.3% to it because we always underestimate or forget about an extra item when calculating the costs. My rule of thumb is to estimate the amount you will need for a project or purchase, and then at 1.3% to it because we always underestimate or forget about an extra item when calculating the costs.

]]> By: Money Management Fourth Edition | Money Management 411 http://www.mydollarplan.com/consider-the-full-cost/#comment-10345 Money Management Fourth Edition | Money Management 411 Tue, 09 Feb 2010 04:53:20 +0000 http://www.mydollarplan.com/?p=1092#comment-10345 [...] for a credit card debt bailout from Uncle Sam and get to work paying it down!” MDP presents Do You Overlook the Indirect Costs? posted at My Dollar Plan. BWL presents Money Management Advice from Grandpa posted at Christian [...]

[...] for a credit card debt bailout from Uncle Sam and get to work paying it down!” MDP presents Do You Overlook the Indirect Costs? posted at My Dollar Plan. BWL presents Money Management Advice from Grandpa posted at Christian [...]

]]> By: Jill http://www.mydollarplan.com/consider-the-full-cost/#comment-10329 Jill Thu, 04 Feb 2010 20:51:39 +0000 http://www.mydollarplan.com/?p=1092#comment-10329 Thanks for all the comments! @Lisa yes, I think Christmas is the most common culprit - you try to be SO GOOD by coming up with a plan, but inadverdently leave out all the little extras. Cars are a big one and entertaining - you plan for the food and drinks, but not the paper goods and things like that. It seems like you recognized the problem and changed your budgeting - hopefully other people do the same :) @asithi Yes, that is a vety good plan, especially when you just have no way of knowing how much something might cost you. Like you said, having a little extra never hurts - all the better to pay off debt or throw into savings if it's left over later. Thanks for all the comments!

@Lisa yes, I think Christmas is the most common culprit – you try to be SO GOOD by coming up with a plan, but inadverdently leave out all the little extras. Cars are a big one and entertaining – you plan for the food and drinks, but not the paper goods and things like that. It seems like you recognized the problem and changed your budgeting – hopefully other people do the same :)

@asithi Yes, that is a vety good plan, especially when you just have no way of knowing how much something might cost you. Like you said, having a little extra never hurts – all the better to pay off debt or throw into savings if it’s left over later.

]]> By: asithi http://www.mydollarplan.com/consider-the-full-cost/#comment-10321 asithi Wed, 03 Feb 2010 14:43:13 +0000 http://www.mydollarplan.com/?p=1092#comment-10321 At work when I do cost estimates, I always pad it with a 10-20% contingency. I do the same thing at home when I budget for things. That is why my husband never trust "my numbers." But hey, we haven't run into a problem yet for having a little "extra" budgeting this way. At work when I do cost estimates, I always pad it with a 10-20% contingency. I do the same thing at home when I budget for things. That is why my husband never trust “my numbers.” But hey, we haven’t run into a problem yet for having a little “extra” budgeting this way.

]]> By: Lisa http://www.mydollarplan.com/consider-the-full-cost/#comment-10317 Lisa Tue, 02 Feb 2010 13:08:29 +0000 http://www.mydollarplan.com/?p=1092#comment-10317 Great post! I used to do that with Christmas. I would budget for gifts, but not for the cards and postage, teacher gifts, extra baking, parties, etc. I think all these came close to our gift budget. I am sure that you are helping someone. Congrats! Great post! I used to do that with Christmas. I would budget for gifts, but not for the cards and postage, teacher gifts, extra baking, parties, etc. I think all these came close to our gift budget. I am sure that you are helping someone.
Congrats!

]]> By: Edwin http://www.mydollarplan.com/consider-the-full-cost/#comment-10312 Edwin Mon, 01 Feb 2010 22:29:24 +0000 http://www.mydollarplan.com/?p=1092#comment-10312 Great topic that is rarely mentioned or considered. This also goes along the lines of opportunity cost where people don't take into account what they could have gotten otherwise. For example, someone may think of their situation if they were to buy a new car or keep the old one but not take into account if they had invested the money they would have put into the new car into their retirement. Great topic that is rarely mentioned or considered. This also goes along the lines of opportunity cost where people don’t take into account what they could have gotten otherwise. For example, someone may think of their situation if they were to buy a new car or keep the old one but not take into account if they had invested the money they would have put into the new car into their retirement.

]]> By: Rory Rohde http://www.mydollarplan.com/consider-the-full-cost/#comment-10309 Rory Rohde Mon, 01 Feb 2010 14:03:13 +0000 http://www.mydollarplan.com/?p=1092#comment-10309 Excellent column. I have a lot of life experience but you presented some new and interesting ideas. Would you please send this to every member of Congress, the Pentago, and every Government agency that puts forth a budget? Excellent column. I have a lot of life experience but you presented some new and interesting ideas. Would you please send this to every member of Congress, the Pentago, and every Government agency that puts forth a budget?

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