2010 - Page 9 of 14 - Engineer Your Finances

Travel Industry’s Biggest Secret: How to Slash Your Bill in HALF

Aug 25 2015May 05 2010 by Fin Engr

The allure of travel appeals to so many people. Experiencing new cultures, places, & foods all lead to lasting memories. But traveling can be costly, even for the most frugal. Getting to where we want to go can require some creative budgeting, and there’s no shortage of travel tips out there. All will save you money, but how much?

Skip a meal – $10/day

Skip on souvenirs – $100/trip

How about saving $650 per person?

One of the most under-rate traveling techniques also returns the best savings.

Okay FinEngr, what’s the tip already!!!

I’m at the computer with my suitcase!

Great Expectations: Ignore Social Norms Save More

Aug 26 2015Apr 29 2010 by Fin Engr

“More money begets more spending” seems to be an underlying result of success many people accept. In other words, the more money you make, the more you spend. Quite often, it’s the expectation of the money you should spend.

In most regards, we judge people based on our expectations of them. Generally speaking, people of certain social status or professions are elevated to higher standards.

Think about it. If your doctor showed up in an old, rusty car, it would probably give you cause for concern.

“Hey, wait a minute, what kind of quack is going to operate on me!?!?”

Read more

Managing Fear and Expectations

Aug 26 2015Apr 20 2010 by Fin Engr

Recently I’ve been reflecting back to March 2009. My interest in behavioral finance probably stems from the technical confusion with markets. From the collapse of Lehman on, another engineering friend and I traded daily emails attempting to make sense of what was happening. As news continued to worsen, we threw our hands up and proclaimed:

“TOO SCREWY – INCONCLUSIVE!”

Although I anticipated the answer, I needed to find a chart graphing historical events against the stock market. As you would imagine, the more severe the news – the more the market plummeted.

Back to 2009 – equities were at fire-sale prices, yet my urge to grab everything under the sun was relatively low. My wish list grew daily, but my executed orders were close to nill. Simply put, my brain was outputting conflicting messages. How could this be given I knew the Buffet adage, “Be fearful when others are greedy, be greedy when others are fearful”.

Mulling over this relationship, an interesting thought surfaced. Maybe it has less to do with

FEAR & GREED and more to do with

FEAR & EXPECTATIONS.

Financial Lessons From Running

May 30 2024Apr 15 2010 by Fin Engr

Portrait of smiling woman sitting on floor of city street after running. Healthy mature runner resting after workout exercise and looking at camera. Active sporty woman enjoying outdoors in autumn.

If you read my 3-month performance review, you’d know I’ve been training for a 10-mile race along with fellow blogger, Paranoid Asteroid. The race has come and gone, and its time to reflect. Overall, the race went well and I did better than expected. Previously, I’d set a goal of 80 minutes for completion. … Read more