Comments on: Financial Philosophy & Sacrifice to Create Wealth & Live Off Your Interest

By: How Much Does Your Debt Cost? | fivecentnickel.com

How Much Does Your Debt Cost? | fivecentnickel.com — Thu, 12 Nov 2009 11:02:13 +0000

[...] simple idea helped us develop a lasting financial philosophy to apply to our family finances. A financial mission statement of sorts to embody the spirit of our [...]

By: DebtFREEk!

DebtFREEk! — Thu, 14 May 2009 17:52:03 +0000

Great points Alan.

1. Your level of sacrifice will determine the speed with which you reach your goals, so you only have to sacrifice at a level you are comfortable with.

2. You cannot worry about preparing for unseen events in life that you have no control over. Simply set your goals, and work at your pace to achieve them.

What are your financial goals?

By: Alan @ Saving For Serenity

Alan @ Saving For Serenity — Thu, 14 May 2009 17:24:38 +0000

I struggle with this whole idea. I like it, in theory, but I have a couple of problems with it. First, I don't want to have to sacrifice. Its just against my nature. Its something I think I could get over, but obviously that takes effort, and who wants to expend effort?Second, and more importantly, I need to know how far to take it. I see no point in absolutely destroying myself in the pursuit of some potential future goal. What happens if you work really hard for 20 years, make HUGE sacrifices, and are just about to cross the threshold, and the market crashes, and you lose everything. Or you get into a car accident and are paralyzed. There's so many variables for the future, how can you assume you'll be alive and healthy enough to enjoy the money of the future?Just something I've been thinking about...Alan @ Saving For Serenity’s last blog post..5 Reasons Why We Spend More Than We Make