Comments on: The Road to Financial Armageddon #9: The Road to Recovery

By: KIM

KIM — Wed, 13 Oct 2010 03:21:16 +0000

in this portion of the story you speak as if you are the only equation in the story. what about your wife? how did she cope with the changes? you said “I” and awful lot! where’s the “we”? just wondering how she delt with it all?

By: Megan

Megan — Wed, 14 Oct 2009 13:28:44 +0000

John S.: my thoughts exactly. Wasn’t she freaking out with all these changes you were making?

By: JoAnn

JoAnn — Fri, 20 Feb 2009 23:44:59 +0000

Loved your blog Trent!
I am a penny pincher too and have learned the same lessons you have. I think it’s great what you’ve done and keep up the good work! These are lessons you’ll pass down to your family and I think it’s great!

By: Andrea

Andrea — Tue, 21 Oct 2008 20:05:19 +0000

Hi,

I grew up in Germany, where having a savings account is pretty much the first thing you learned (it has changed now, too). My first car was a 17 year old cab, holding together only because of the vast amount of stickers over rust holes. It cost me the equivalent of $500, which I saved up for months. Anyway, where I am going is that I am very glad I learned how to save. While my family and I are far from well off, I know how to live off chicken and potatoes for a few months, when the budget is tight. I wish parents would teach their kids how to save, rather than spending it on cheap, totally unnecessary plastic stuff they don’t need. I wish more parents would teach their kids to play with items they find in the yard. This country is in this mess, because nowbody has taught the kids the value of money. Keep up your great blog!

By: John S

John S — Mon, 19 May 2008 19:30:28 +0000

What I find most interesting about your otherwise-excellent narrative is that your problems and solutions all seem to be unilateral. Where is your wife’s presence throughout all this? Why is she not brought into the discussion? Do you keep separate accounts? Or are you in carte blanche control of the family’s money (including her spending?)

In my own experience, the hardest “unexpected expenses” to deal with are ones you didn’t make, but your wife did. Your entire story downplays her as essentially a non-factor in this whole process, which I find unrealistic.

By: Sam

Sam — Wed, 21 Nov 2007 09:09:23 +0000

Terrific story! As happens to many people who dig themselves into a financial hole, I’m happy that you didn’t lose your job or face illness.

By: BigBuddha

BigBuddha — Tue, 06 Feb 2007 03:37:31 +0000

Many people will debate the usefulness of having an “emergency fund”, as opposed to a large “working” capital account.

To me it’s simply a case of if you don’t have an “emergency fund” inevitably there will be some large bill that comes round that will knock your budge out of the park which means you’ll be scrambling around to find funds which eventually leads to use of credit debt again … and so the deadly debt circle begins again …

an “emergency” fund is essential not only for peace of mind but to smooth out those cashflow “bumps” in the road which invariably will come around and help you avoid dipping into credit debt again and keep you out of the “deadly debt circle”