Comments on: Complacency A Silent Killer Of Financial Turnarounds

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Reality Show Casting Call For Wife Swap, Want To Earn $20,000? — Thu, 19 Mar 2009 02:45:37 +0000

[...] Frugal Dad: Complacency A Silent Killer Of Financial Turnarounds [...]

By: DDFD at DivorcedDadFrugalDad

DDFD at DivorcedDadFrugalDad — Tue, 17 Mar 2009 12:48:47 +0000

Good post. I feel, think, and have experienced everything you discussed.

I find that I can maintain intensity on budgeting, for example, for weeks at a time, but then I need a week off of thinking and feeling. The time away allows me to recharge and start the attack again.

I don’t view this as backsliding, but rather a cooling off period, so I don’t worry about it too much.

By: Ken

Ken — Tue, 17 Mar 2009 03:41:47 +0000

I have faced complacency on my road of finance. I made progress by paying off many debts and allowed old habits to creep back in. We have to keep our eye on the overall goal and stay focused. You get battle weary at times and let your guard down a bit. Thanks for the reminder to stay at it.

By: Squeaky

Squeaky — Mon, 16 Mar 2009 23:34:09 +0000

To criticize the FrugalDad method for being sustainability-oriented and therefore “not frugal enough” is similar to criticizing the Weight Watchers system for not being as severe or restrictive as a liquid diet.

As with diets, there’s a range of spending plans that vary in their level of rigor. Some have the goal of extreme reduction; others focus on sustainability. It all depends on what the patient needs. A compulsive spender in imminent danger of bankruptcy needs more financial rigor than someone who is getting by but who wants to pay off the mortgage early.

For people in a crisis, dramatic means (such as bariatric surgery or a medically supervised liquid diet) are necessary. We’ve got more people in financial crisis now, so extreme frugality and extreme debt reduction is going to get more attention than it would when times were good. That’s normal. Yet not all people need extreme measures, and if they resort to extreme measures or try to sustain them in the long term, they end up reverting to their original habits. This is why fad dieters so frequently regain their lost weight and so many lottery winners end up broke.

The fact that the FrugalDad approach is more sustainability-oriented than most of the extreme measures out there is good.

We need not let the conversation deteriorate into a more-frugal-than-thou competition. To do so may trigger unhealthy behavior in people who are disposed to the financial equivalent of anorexia.

By: abdpbt personal finance

abdpbt personal finance — Mon, 16 Mar 2009 22:54:48 +0000

I totally agree that complacency is a hazard to financial health. When I was clawing my way out of debt, I would apply every extra cent I could find to my debt, now I find that the latte factor is creeping back in. Thanks for the reminder!

By: waren's bufet

waren's bufet — Mon, 16 Mar 2009 21:48:37 +0000

I do not understand the motivation behind this post, whatever is outlined in this post seems like pure common-sense. A simple counter-example for this post/post-series would be “if you are in college and get good grades for a sem, you dont utterly lax out and go bonkers in the next sem and fail every course in sight”.
This post/series might on the other hand be a good 101 learning course for those who are completely off-track in regards to their savings/retirement-planning etc.
Also some one (poster#9) commented about the analogy with the economy, again thats hard to fathom unless I start resort to outrageous extrapolations/hand-waving.

By: Susanne

Susanne — Mon, 16 Mar 2009 21:36:25 +0000

Did you write this post just for me? I can relate to a lot of it. We do seem to be making progress financially, but as a result, I am tempted to slack off a bit. This is a good reminder to stick with the program.

By: Anon

Anon — Mon, 16 Mar 2009 20:51:01 +0000

I’m thinking you read that person’s comment about you not being frugal enough and became afraid that perhaps you are no longer relevant to your blog readers as a result. That is indeed a worry with a business model like yours. At what point does one make enough money and not need to be frugal anymore? It would be different for everyone but for the writer of a blog on frugality obivously this is an issue. My suggestion is to change your tune a bit with the writing and have it be more instructional on how to be frugal to achieve goals for others as opposed to how you yourself are being frugal right now. I don’t know – just coming up with this on the fly here…

By: Do You Dave Ramsey?

Do You Dave Ramsey? — Mon, 16 Mar 2009 20:04:42 +0000

Another great post Jason… it’s so easy to let ourselves go once we’ve experienced some success.

I think automation plus a little exhale is key. Automate savings, balance transfers, and bill paying so there’s less money in the play pot. Then increase your blow money a little as a reward… then continue the practice of saying ‘no’ to yourself as you did duing the “early days”.

Thanks again Jason!

By: Dana

Dana — Mon, 16 Mar 2009 15:26:39 +0000

I like how much of what you’re saying can also be applied to the broader economy.