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The Ever Increasing Value Of Parsimony

Friday, July 12, 2013 - 5:36 PM
From Scott Burns:

      "...Parsimony, which is a polite way to talk about
       penny-pinching, has never been a more valuable habit.

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cumuluscumulus359 posts since
Jan 16, 2010
Rep Points: 1,680
1. Saturday, July 13, 2013 - 2:02 PM
Great advice:

"The first is: Where can we find the “low-hanging fruit”— the places that offer the easiest opportunities for parsimony. The answer: Wherever you care to be mindful. That can be shopping for food, clothing, cell phone service, gasoline, or home and car insurance. It can be as simple as rejecting the unrelenting up-selling that comes with going to the dentist these days.

The second question is: Will parsimony still pay as interest rates rise? That’s an important question since there is some evidence that interest rates have, at long last, bottomed. The answer is that the value of parsimony fluctuates— but unlike investing in stocks or bonds, we’ll never lose money by spending our money carefully."

Thanks!
3
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
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