Comments on: Count all the money you wasted this year

By: From Rain City Guide: Should I Buy A House Now?

From Rain City Guide: Should I Buy A House Now? — Thu, 13 Nov 2008 19:52:55 +0000

[...] Part II: Count All The Money You Wasted This Year [...]

By: Don’t Pay Off Bad Credit | Rain City Guide

Don’t Pay Off Bad Credit | Rain City Guide — Wed, 12 Nov 2008 00:53:35 +0000

[...] Similar PostsCount all the money you wasted this year [...]

By: ARDELL

ARDELL — Sun, 09 Nov 2008 06:58:17 +0000

Julia,

Using the word “wasted” may appear to be negative, but it’s actually a positive. Once you determine it was “wasted” you can set that amount aside as money available for housing payment.

If you determine you wasted $180 a month, deciding not to waste that money buys you $30,000 more in housing price.

By: Julia V

Julia V — Sun, 09 Nov 2008 06:22:17 +0000

I don’t know if I’d use the word wasted on money. I’d never be able to sleep then. But this article is right on the money. No pun intended. And it’s almost that time of the year. Pretty soon I’ll get my W2 and say, what?, I made all this money? Where did it go? Then you figure it out, just as you have above and see where all the money went. I’m a little more organized this year, thanks to my accountant and Quick Books.

By: PatentGuy

PatentGuy — Sat, 08 Nov 2008 16:21:28 +0000

Ardell,

Excellent post on money management in general. Too bad congress is not forced to keep such notebooks (let alone understand the difference between “needs” and “wants”).

By: ARDELL

ARDELL — Sat, 08 Nov 2008 08:33:12 +0000

We’ll revisit that in six years…

By: rob-u-blind?

rob-u-blind? — Sat, 08 Nov 2008 04:31:03 +0000

Affordability advice based on short term market conditions is bunk. Unless you’re buying a house to hold for less than 5 years, honest advice in 2001 vs 2008 hasn’t changed at all.

As we’re all well aware, flipping in the early part of the decade was a viable strategy, and any unclosed flips from 2005 on are probably dead or dying.

We saw a few good years of short term ownership. Buying for the long term hasn’t changed a whole lot.

By: cautiousbuyer

cautiousbuyer — Sat, 08 Nov 2008 03:28:42 +0000

Ardell, what do you think?

Cautious but ready to pounce, or just way to predatory?

By: ARDELL

ARDELL — Sat, 08 Nov 2008 01:09:02 +0000

It’s very sad when people lose confidence in banks. It sends them in all kinds of directions that are not good, including too much cash in the house if they have a burglary.

By: Rhonda Porter

Rhonda Porter — Sat, 08 Nov 2008 00:10:01 +0000

Roger, LOL now I can’t get the sound of ringing phones and that guy’s Ross Perot voice from the commerical out of my ears! Thanks A LOT!!!