As our experience grows, and our circumstances change, we see the decisions of days past in a different light, but nevertheless–we cannot change them.

We can only continue to make similarly well-informed decisions in the present, again based on our current experience and circumstances.

This actually got me thinking. Many personal finance blogs like Trent’s and JD’s are based on trying to educate their readers and help them learn from the authors’ mistakes. They seek to teach their readers the lessons they’ve learned, without having to suffer the consequences the authors endured.

But the more I think about it, the less I think that works. There are some lessons you don’t truly appreciate unless you’ve lived through the negative consequences personally. Perhaps the BEST personal finance blog would be one that encourages its readers to make mistakes that have the biggest “bang-for-the-buck” in terms of correcting negative behaviours (balanced against the long term negative side effects).

Hmm. I wonder what such a blog might look like. :)

READER MAILBAG #1:

Jeremy writes: “I just graduated university. I have $35,000 in student loans, and I just got a job that pays $50,000. I want to buy a new Volkswagen. The dealer is offering me 7.9% financing. Should I do it?”

Yes, Jeremy, you should definitely do it. Finance that car for 5 years. Then please write back in 5 years and tell me how you feel about financing brand-new vehicles.

I’d be willing to bet that, 5 years from now, Jeremy would have a much stronger aversion to financing expensive cars than he would if Trent just told him “don’t do it” right off the bat.

Sadly, we poor souls learn better from making mistakes than from anything else, and we have to learn to forgive ourselves when we err. Best you can do is try to make amends, hope not to make the same mistake again, and keep trying. You’re gonna mess up now and again, but that’s how the game is played.

I fully agree with Maggy, everyone needs to experience some mistakes themselves to really learn from them.

More than likely, you will make mistakes, and its very easy to let these get you down.

You can’t do that, it is simply counter-productive

good post!

For those who juggle, the European Juggling Convention often ends up being cheaper than the US one, even when you include airfare, because it’s on campgrounds rather than in a fancy convention center. This year’s in Finland!

We spend a lot of time with this concept with our daughters. They often want big ticket items to buy, yet get lured in by the smaller, impulsive purchases of the world. The only way I think it will connect with them is to weigh the options better and the subsequent big purchases are easier for them to negotiate.

I’m often perplexed by people who think travel is so expensive. Sure, it CAN be expensive but if done wisely you can find yourself in some amazing places on the cheap. I’d be more than willing to write a guest post about this topic if you’d like. I’m not a world traveler by any stretch of the imagination but I’m becoming quite saavy on how to get to places (and survive very well) while there.

I’ll be leaving for Germany in about a month and have no intention of spending more than $1,000 for the entire trip, including airfare, food and room. I also have no doubts that it will be an incredible trip.

I hope that your self-describe comfort isn’t turning into complacency and you find in 10 more years that you wish you’d have captured life a little more aggressively than in front of a computer. There is a great big world out there waiting for you and I hope that you take my words as I intend them, as a gentle nudge to get you to move forward on your trip.

I await an update!

The real trick is watching your children walking the same path, and having the ability to guide rather than try and step in and fix, and being able to let them fail and learn when necessary.