Wow. my 401st post. I’ve been at this a while apparently. And yes, I was up at 3:30 this morning, how did you know? Ugh!
So, my kids are ready for school. All except a protractor for the older one. I can’t seem to find one at my usual stores. Strange. I’ll find one before school starts though, make no mistake.
I am reading a book called The New Frugality. It is pretty cool actually. It goes through the history of debt and market fluctuations a little and explains why the author thinks that this time is different, that frugality isn’t going away. His reasoning is that this Great Recession (as it’s being called) is a lot like the Great Depression in its effects on the public consciousness as far as spending and saving go. He lays out what he believes are the new rules of frugality, investing, saving, and debt. They are pretty standard these days: debt can be good only if it’s debt that adds value like education or house debt, pay off all debt as soon as you can, invest in index funds and bonds instead of mutual funds (especially actively managed mutual funds) and stocks, have a liquid safety net (6 months of income at least) set aside just in case. For anyone who has read or thought about frugality at all, this is pretty standard stuff, but the author, Chris Farrell, has data to back it up. It’s a neat book and I recommend it to anyone even a little interested in the history of finances in the United States. He delves into it just enough to be interesting and not enough to be tiresome. I have read extensively on debt and personal finance and frugality and found this to be a good book.