Comments on: The Automatic Poorhouse

By: Frugal Confessions

Frugal Confessions — Mon, 14 Jun 2010 12:09:17 +0000

[...] are a lot of people living paycheck to paycheck, out of necessity. So how are they supposed to pull themselves up and out of debt, or build up a savings in order to [...]

By: Frugal Confessions

Frugal Confessions — Tue, 01 Jun 2010 12:07:12 +0000

[...] on purpose. For those of you who have not read about my own choice to do this, check out the Automatic Poorhouse over at the My Dollar Plan blog, where I am a staff [...]

By: -> Carnival Of Money Stories #11 – Money Quotes Edition | Bible Money Matters

Mon, 20 Jul 2009 11:55:55 +0000

[...] presents The Automatic Poorhouse posted at My Dollar [...]

By: @networthcanada.org

@networthcanada.org — Mon, 20 Jul 2009 03:52:57 +0000

This is the idea that I have had trouble toying with in the past. Is the self inflicted financial stress worthwhile? By the time you become a millionaire you will have long since decided that you need to have five million or even ten. There can be no limit to the amount of money you want to acquire. Once you get close to your million it will not seem like so much. I don’t doubt that you are being financially responsible, it is important to be able to find a way to balance living a more rewarding life, with a few more treats for yourself, and a financially responsible one.

By: Tom

Tom — Fri, 17 Jul 2009 17:59:37 +0000

Interesting articles.

For me personally I find that saving more and being conscious of how I spend my money has actually lead me to re-evaluate my priorities and receive more enjoyment now. The less discretionary money I have the more I seek out ways to derive joy out non-consumptive activities. I spend more time with my girlfriend and family, legitimately interacting, more time reading, and not paying money to be distracted from the people and activities that are really important in my life. I also earmark money from my savings for things that I feel are truly worth spending money on. For me, that’s traveling, twice a year. If you’ve found a way to be happy while not spending money (more than your living expenses) I think you’re ahead of the game, not behind it.

By: Billy

Billy — Fri, 17 Jul 2009 15:00:42 +0000

I think you’re a little insane. I too automate my savings to the point where I’m saving away about 40% of my income. However I still make sure I’m not neglecting the enjoyment of my life currently. I make sure there’s room in the budget for drinks with friends, a few dinners out, or something I want here or there. It’s all about making the most of what you have, not scrimping every penny.

By: Friday Finance Findings for July 17th : Generation X Finance

Friday Finance Findings for July 17th : Generation X Finance — Fri, 17 Jul 2009 13:28:01 +0000

[...] The Automatic Poorhouse – Here is an interesting story about someone who has automated every aspect of their finances to live on a very tight budget paycheck to paycheck. Will it pay off in the long run? [...]

By: ted

ted — Tue, 14 Jul 2009 20:43:00 +0000

I read a great quote somewhere that I try to live my life by.

“Live every day like it’s your last…..but save as though it isn’t”

By: fern

fern — Tue, 14 Jul 2009 19:09:47 +0000

i’m in exactly the same position as you. I worry that i’m not enjoying my life now as much as i could/should, and i sometimes wonder, what if i got hit by a car tomrrow, or got diagnosed wtih some terminal illness, would i then kick myself for deferring so much for the future? Wouldn’t you feel cheated if, as you lay there on the street dying (sorry, but it could happen), you thought of all that cash stsockpiled in your investment accounts and now all of it would go unused, unenjoyed…

By: Journey

Journey — Tue, 14 Jul 2009 07:06:09 +0000

I hate living pay check to pay check. I am hoping hanging around smart finance bloggers, I can change.

By: MassiveGrowth

MassiveGrowth — Tue, 14 Jul 2009 01:55:42 +0000

I see a lot of people doing this, and while it’s better than simply blowing all your money on junk, I (personally) see a 3rd option which I’m now looking to implement, and that’s the idea of mini-retirements, as promoted by Tim Ferriss of the four hour work week fame.

Why work for 40 years so you can sit on your ass for the next 20 doing nothing? Why not take a break every 5-10 years and live in another country for a few months? Return to the workforce energised and refreshed?

The idea was new to me when I read the book (quite recently) and I’m currently looking at where I could go in the next few years for a short sabbatical. It may not be optimised for the wealthiest retirement, but I believe I can get more out of life with this strategy!

By: http://commons.chron.com/frugal_confessions

http://commons.chron.com/frugal_confessions — Mon, 13 Jul 2009 22:03:36 +0000

better spend it now, obama is going to collapse the market again soon, all that being frugal to save and invest will be down the drain

By: Amanda Grossman

Amanda Grossman — Mon, 13 Jul 2009 21:13:43 +0000

Hello everyone!

Thank you for all of your comments–I am the author of this article. I think it’s good for me to keep a more balanced approach to money, and writing this article is my first step.

By: Helen

Helen — Mon, 13 Jul 2009 20:41:01 +0000

I loved your article. I used to be like that … watched every single penny and spent hours on my checkbook if it didn’t tally to the exact penny. After my ex-husband basically ‘stole’ my life savings with one fell swoop… I realized that I needed to develop a healthy balance with spending. I decided that every once in a while, its ok to treat yourself. Thanks for sharing. Helen

By: Gina

Gina — Mon, 13 Jul 2009 16:40:49 +0000

Bless you! I completely relate to you and you described our situation beautifully…you are (obviously) not alone and your frugality will pay off…you already know that you’re not in debt and you’re not living in denial and fear, which is unfortunately the way so many others live. It matters to have integrity and to live a good life, we just don’t live a live of immediate gratification. It’s delayed. Sigh…