The well respected Jonathan Clements is not in a good mood and when he is not in a good mood, he dishes some advice that may sound questionable. To be fair I think I agree with all of them. Perhaps except this:
Don’t budget. It’s a tedious exercise favored by nerdy individuals. Instead, make sure you save enough every month. Do that, and there is no need to budget.
This basically smacks the engineers in the face. To be fair, I do agree. There are many folks who cannot stand to budget, and lament its too much work. To all those, this advice is good.
But I felt that there is something you would not be able to gain if you don’t do this nerdy stuff.
I wonder how many felt the same way.
Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
Readers also follow Kyith to learn how to plan well for Financial Security and Financial Independence.
Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend. All opinions on Investment Moats are his own and does not represent the views of Providend.
You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.
His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.
You can read more about Kyith here.
- New 6-Month Singapore T-Bill Yield in Late-September 2023 Should Stick to 3.75% (for the Singaporean Savers) - September 21, 2023
- A Concentrated, High-Quality Fixed Income Financial Independence Income Strategy Has Enough Uncertainty - September 20, 2023
- Why Do We Save Money After We Reached Financial Independent Status? - September 18, 2023
momo
Tuesday 26th of August 2014
Hi drizzt. I shall just post it here as it is your latest blog post. Hope you can create a new blog post on this.
Sorry if im late. The board lot size of SPDR STI ETF will be reduced to 100 units. Yes! http://www.sgx.com/wps/portal/sgxweb/home/faqs#Reduction-of-Board-Lot-Size
Kyith
Tuesday 26th of August 2014
Thanks momo. Seems this is inline with the 2015 100 units lot size
Jacques
Tuesday 26th of August 2014
Budgeting in excel shouldn't take more than 30mn a week. Budgeting with Mint (available in the US) takes even less. It's not too much work. It's just uncomfortable to some.
Kyith
Tuesday 26th of August 2014
Hey Jacques,
Too right, after I do it. But really. I manage to only convert one lady to do that,and she does it every day.
Think Jonathan's idea is that it is not useful to spend this amount of time to do it at all