Comments on: Defeating Parkinson’s Law of Finance http://youngdough.com/2008/09/24/defeating-parkinsons-law-of-finance/ on the road to financial freedom... Wed, 17 Mar 2010 02:58:56 +0000 http://wordpress.org/?v=2.3.3 By: » Dummy-Proof IRA Management Youngdough.com: on the road to financial freedom… http://youngdough.com/2008/09/24/defeating-parkinsons-law-of-finance/#comment-5698 » Dummy-Proof IRA Management Youngdough.com: on the road to financial freedom… Wed, 04 Feb 2009 22:01:51 +0000 http://youngdough.com/2008/09/24/defeating-parkinsons-law-of-finance/#comment-5698 [...] a dollar figure.  This way your savings are guaranteed to rise in locks-step with your income. Parkinson’s Law of Finance will therefore be extinguished [...] […] a dollar figure.  This way your savings are guaranteed to rise in locks-step with your income. Parkinson’s Law of Finance will therefore be extinguished […]

]]> By: Weekend Reading: October 4 | Debit versus Credit http://youngdough.com/2008/09/24/defeating-parkinsons-law-of-finance/#comment-4517 Weekend Reading: October 4 | Debit versus Credit Sun, 05 Oct 2008 16:18:21 +0000 http://youngdough.com/2008/09/24/defeating-parkinsons-law-of-finance/#comment-4517 [...] Blake from Youngdough.com talks about Parkinson’s Law of Finance which states that ‘expenses expand as to fill the available budget’. He follows up by sharing his ideas on how one might “beat” this law. Check out Defeating Parkinson’s Law of Finance. [...] […] Blake from Youngdough.com talks about Parkinson’s Law of Finance which states that ‘expenses expand as to fill the available budget’. He follows up by sharing his ideas on how one might “beat” this law. Check out Defeating Parkinson’s Law of Finance. […]

]]> By: shultice24 http://youngdough.com/2008/09/24/defeating-parkinsons-law-of-finance/#comment-4483 shultice24 Thu, 02 Oct 2008 23:58:05 +0000 http://youngdough.com/2008/09/24/defeating-parkinsons-law-of-finance/#comment-4483 The 'keep up with the Joneses' set is definitely a natural human instinct. You'd think people would realize that this competitive, materialistic lifestyle is ruining their finances. You'd think anyways... The ‘keep up with the Joneses’ set is definitely a natural human instinct. You’d think people would realize that this competitive, materialistic lifestyle is ruining their finances. You’d think anyways…

]]> By: john b http://youngdough.com/2008/09/24/defeating-parkinsons-law-of-finance/#comment-4472 john b Thu, 02 Oct 2008 10:27:29 +0000 http://youngdough.com/2008/09/24/defeating-parkinsons-law-of-finance/#comment-4472 Great advice Blake. For the last ten years or so, my wife and I have taken almost ever penny of every raise and used it to increase our savings. We immediately up my 401k, her IRA, the 529 college funds and add to our savings "buckets". By doing this, we don't ever feel the "pain" associated with saving. Outside of the additional inflationary cost of living increases, we are basically living on the same budget today, as 10 years ago, while our income has continued to rise. In other words, we live WAY BELOW our means. It can be done, you just have to get out of the "keep up with the Jone's" mind set. Great post! Great advice Blake. For the last ten years or so, my wife and I have taken almost ever penny of every raise and used it to increase our savings. We immediately up my 401k, her IRA, the 529 college funds and add to our savings “buckets”. By doing this, we don’t ever feel the “pain” associated with saving. Outside of the additional inflationary cost of living increases, we are basically living on the same budget today, as 10 years ago, while our income has continued to rise. In other words, we live WAY BELOW our means. It can be done, you just have to get out of the “keep up with the Jone’s” mind set. Great post!

]]> By: Craig http://youngdough.com/2008/09/24/defeating-parkinsons-law-of-finance/#comment-4327 Craig Thu, 25 Sep 2008 19:58:52 +0000 http://youngdough.com/2008/09/24/defeating-parkinsons-law-of-finance/#comment-4327 Good post. I have never heard of the official term of that before but it makes sense and you hear about situations all the time where people make a lot of money and have financial problems. It is natural (especially for Americans) to spend more money if they make more money. A lot of times that is instinct. Trying to get into good habits like you suggest is the best way to prevent falling victim to it. Craig www.budgetpulse.com Good post. I have never heard of the official term of that before but it makes sense and you hear about situations all the time where people make a lot of money and have financial problems. It is natural (especially for Americans) to spend more money if they make more money. A lot of times that is instinct. Trying to get into good habits like you suggest is the best way to prevent falling victim to it.

Craig
http://www.budgetpulse.com

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