Precision, accuracy and the importance of using the right model

Published in February 13th, 2008

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!One of the things I think about a lot is the difference between precision and accuracy or from a modeling perspective the difference between verification and validation. The difference between precision and accuracy can be understood in terms of [...]

The two personal finance books that changed my life

Published in February 12th, 2008

Posted by Jacob in Early Retirement, Philosophy

12 Comments

I really like “Rich Dad Poor Dad” . I forget which one I read, but I would put it in my top two list of entry level books, the other one being “Your Money Or Your Life”. While Your Money Or Your Life made me reevaluate whether an expense was really worth it, Rich Dad [...]

On minimizing depreciation expenses

Published in February 11th, 2008

Posted by Jacob in Finance, How to, Strategy

10 Comments

We don’t pay for our furniture. I haven’t paid for my watch. Also I haven’t paid for my HiFi system. If I was a little bit smarter, we wouldn’t be paying for our car either. On the other hand I have paid way too much for computers. That is not going to happen again.
How much [...]

How I became financially independent in 5 years - Part IV - the investments

Published in February 10th, 2008

Posted by Jacob in Finance, Personal

14 Comments

I posit that most people can attain financial independence in less than 10 years and in less than 5 if they are truly determined. I also submit that many people are not willing to make the necessary changes.
Read part I here
Read part II here
Read part III here
By cutting all expenses to the bare [...]

Saturday roundup and carnivals - What’s in your wallet edition

Published in February 9th, 2008

Posted by Jacob in announcements

5 Comments

I got tagged by the what’s in your wallet meme by Prime Time Money. Must resist. Can’t resist. So here’s a picture of my wallet.

Pretty crappy, eh? DW tells me that if I ever go for an interview I have to get another wallet. Actually I do have another wallet. However, it is too big [...]

Time to be proactive about a possible recession

Published in February 9th, 2008

Posted by Jacob in economy, financial security

No Comments

Actually the time was several months ago, but since the recession has not been officially declared there is time to prepare. You can still make a difference in your life at this point by adopting a few of these measures.

Establish a cash position. During a recession cash is king. The reason is that credit is [...]

What cycling taught me about personal finance

Published in February 8th, 2008

Posted by Jacob in fitness, personal finance

3 Comments

Thanks to the Superbowl there has been a lot of comparison between football and personal finance. Now whereas football is a game where a bunch of girls wear protective padding and slap each others’ butts, cycling is a sport for real men who shave their legs and wear spandex. All this is besides the point [...]

5 ways to help get a prosper loan funded

Published in February 7th, 2008

Posted by Jacob in Finance, How to

3 Comments

As someone who has lent out over $12,000 over the past 1.5 years here is what I prefer to see in a loan request before I bid.

Be accountable! The original idea with peer to peer lending was that a group of people (like a knitting club) would get together and hold each other accountable. Needless [...]

Potato pancakes - dinner for less than $1

Published in February 6th, 2008

Posted by Jacob in How to

7 Comments

You need a bag of mealy potatoes, an onion, some eggs, and a ton of cooking oil. This will basically be a meal so full of fat, starch, and cholesterol that you’ll be able to hear your arteries hardening while you eat it.
Peel about 2-3 times the number of potatoes you would usually eat as [...]

My list of 25 money saving tips

Published in February 5th, 2008

Posted by Jacob in How to

9 Comments

Frugal for Life recently posted a big list of tips to save money and The Family CEO posted list of 25 things I do to save money, so I figured I would make my own list as well. These suggestions range from rookie to expert.

Get netflix or blockbuster instead of going to the movies. Watch [...]

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