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June 03, 2012


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Excellent response. I got my financial life in order over the past year, and I completely agree with your statement. I used to dread going to the mailbox, fearing the arrival of an unexpected bill. Getting my financial life together, saving for the odd, but major, annual bill (property tax) and having a solid emergency fund means I don't dread that walk any more. It also means that if the plumbing backs up, the A/C stops working, or an appliance goes out...I don't immediately stress out over "how are we going to pay for this." I don't agree with every single thing in the Dave Ramsey "Financial Peace" plan, but the name is spot-on.

Peace (and/or stress relief) was the main trigger for organizing my finances.

Paying off debt little bit little, having a sizeable emergency fund, and several smaller targeted mini-funds, gives such a great sense of calmness in the ability to handle any upcoming potential financial troubles that I wish I'd started when I was 21.

I think it was a great response. I would think that is the best non financial benefit of wise money management. It is great to be able to not worry about where you're going to get the money to get your tires replaced on your car when they near the end of their life. If you haven't managed your money wisely that could be a huge stress.

In my own case I have found that worry over financial problems increases with old age. It was a great relief to me when our finances had reached the level where we no longer needed the stockmarket and all of the volatility, stress, and anxiety that it can inflict upon investors. Believe me it's so much more relaxing when your financial assets are all in bonds (mostly tax free) that you plan to hold until maturity, collecting the interest as it rolls in like clockwork twice/year.

I am also glad that I chose not to accumulate rental properties as a means of generating income during retirement. Rentals involve dealing with all kinds of people, many of which don't take care of other people's property very well, disobey rules about having no pets, allow damaging water leaks to continue, are often delinquent in paying their rent, and leave a lot of trash behind when they finally move out or have to be evicted. These are all problems you don't need during your Golden Years.

Amen! There is so much peace in having a solid financial footing. We something unexpected (an unplanned expense) comes up it is not an issue. It is not flashy to live below your means but it is comforting in so many ways.

Good response. Peace is a wonderful byprodcut of managing your money wisely; personally my favorite has been flexibility.

I have never felt a more potent sense of control and that general feeling that, ‘I can do anything I want’ than when I paid off all of my student loans, got out of debt and saved a bunch of money. The flexibility that comes with managing my money wisely is one of the most powerful and adventurous emotions I have ever felt!! Financial flexibility certainly has affected my top line as my annual income has climbed well over 6 figures from 45K only a few years ago.

I agree with Nate - flexibility. Among many other things I've been able to live in three different countries, to take risks with job changes and (this year) take several months off work to see the Euro 2012 and the Olympics - all because my finances are in order.

(Also, I thought it was Saturday. Weird.)

It is great to be able to not worry about where you're going to get the money to get your tires replaced on your car when they near the end of their life, If you haven't managed your money wisely that could be a huge stress.

Right on, FMF. I like it.

I like your response.

I will need to ponder this more to see if I can think of something else that suits me. Some things that come to mind is contentment,grateful,blessed,wisdom and a whole mess of other discriptions but what is mine to own?

Peace has to be the top of the list. Wonderful response, FMF.

Yes. Peace of mind. And I think that peace grows with the more you have. Having an emergency fund to go to when the car needs repair is nice. And then as your savings grow you have even more peace. As in my case, I have enough saved that if I should be laid off, or even if I decide work has become to stressful, I could walk away from my job with no financial worries. And then further, when you get to the level of someone like Old Limey, you don't even have to stress over maket losses. Peace to all.

What a great response- how can anyone wish for anything more in life than peace? Being peaceful and at ease with everything in your life means you are truly happy, and I think although many people don't want to admit it, being financially stable or better can have a big impact on that. So many people stress and fight over money, how can one not realize that it does take some level of financial stability to be able to maintain a sense of peace and contentment.

Personally, I feel great comfort in knowing that I can be of help to family and friends in difficult times. My father just had major heart bypass and I was not concerned with the cost of flights or the time missed from work. I know that for most americans, an emergency like this would end up on a credit card (and not paid off at the end of the month).

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