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What Would You Do For A Million Dollars?

If you are ever bored and looking for something to do, I find that Google searching a random topic can be quite entertaining. For instance, the other day I decided to search “weird facts about money” and I thought I would share some of my findings with you.

One article I came across quoted some very bizarre statistics about what people would be willing to do for ten million bucks. According to the article, most people would be willing to change their race or gender, as well as abandon their family and friends for anything from three million to ten million dollars, but they wouldn’t be willing to do so for a mere two million.

September 18, 2010

General

When Should You Stop Fixing Your Old Beater Car?

It is hard to know when to stop putting money into repairing an old beater car. Beaters can seem like bottomless pits, always draining your cash flow as year after year another component of the car gets worn out. There comes a time when it is best to just stop putting more money into it, but just when exactly is that?

The answer really depends on your goals for the present and the future. My husband and I recently faced just such a dilemma. Here’s our situation: We have a newer car that we rely on for our road trips as well as to commute to work, go camping, etc. We also have a much older and less reliable car that we use to get from point A to point B, which from now on will be referred to as our beater car. Since we both work at different locations, we each require our own car.

Unfortunately our beater car recently had some major issues that required us to cough up just under $1000 for repairs. At first we thought we wouldn’t bother doing the repairs and we would just donate it to a local mission organization to sell for parts. However, we ended up changing our minds and fixing it after all because for us, the alternative would be to simply buy yet another beater car.

September 6, 2010

General

Could You Live Without Money?

Do you ever get tired of worrying about money and wish that you could just live without it? Well, a man by the name of Mark Boyle has done just that. Since 2008 he has managed to live what he calls a moneyless lifestyle. He grows his own food, lives in a small trailer, and bathes in a nearby stream. He claims he has never been happier and more content in his life. He also says he is much healthier and more fit now.

Wow! Who would have thought that anyone could survive these days without even attempting to earn money? Although Mark’s lifestyle is definitely not for everyone, I can definitely see the appeal of living like him, at least for a short period of time. But for many people this lifestyle is not feasible due to their existing responsibilities and ambitions. That being said, it doesn’t mean we can’t still be carefree to a certain extent.

August 31, 2010

General

How Much Is A Dollar Worth To You?

I recently read an interesting article on globeinvestor.com that talks about how the value of a dollar changes depending on what life stage you are in. For example, as a child, you would have cherished one dollar as if it was an entire fortune, but at different times in your life, you will likely value it differently. The main point of the article is to set up a strategy so that you are making the best use of your money throughout your life.

For people who struggle all their lives to make ends meet, the value of the dollar will likely be fairly consistent through all life stages, however, for those who have enough money to cover all the bills without a lot of stress, it appears that the value of a dollar becomes less meaningful especially when one is older. According to the article, “… it often becomes clear that the precious dollar of today is better spent than saved for the future, when it will be of much less personal value”.

August 25, 2010

General

Live For Today But Still Plan For Tomorrow

Life seems to be a bit of a balancing act. We need to make sure that we are enjoying the here and now, without neglecting to save for our future. Although none of us are guaranteed another day, we live in anticipation of waking up every morning and carrying on as usual. So although we need to plan ahead, it is just as important that we make sure to live a little in the present, too.

This is something I really struggle with sometimes. I get so carried away with saving for future goals like travel, our next vacation, and retirement, that I do not often let myself spend money on the things I enjoy right now. I make a lot of sacrifices, which I anticipate will pay off in the long run, but again, who is to say that I will still be here tomorrow? That being said, I do not expect my personality will change that much. I will likely be just as frugal as before, most of the time, but I am going to make myself enjoy my money a bit more while I have it.

August 23, 2010

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