Wednesday, October 04, 2006

An open wallet?

I have seen a couple interesting blogs where people talk in detail about their personal finances.  For example, My Open Wallet.
I think that my finances are slightly unusual (thanks to working at Microsoft), and my approach to managing it is sometimes unorthodox (just like everything else I do).
It's strange to me that the most secret of secrets is how much money you make. 
So, should I start writing about my finances publicly?
Should I do it anonymously?


Geoff Appleby said...

I don't think there's an issue with talking finances at all (with one caveat). Actually, it's something that is common to everyone - learning to live (especially once you have a family/house/some major money pit) with what money you have in an adequate way - not going bankrupt, not always being in debt etc - it can be quite hard. When no one talks about how much they make (which more often than not is so that you don't upset people if you make more than them) there's no way to share tips like you do with other things.

The caveat: The problem is if you talk about how much you make, and you make a decent wage, look out for people asking for loans :)

Jay Bazuzi said...

Yes, you remind me of an important point: there is lots of places that offer adivce about how to manage your money. However, most of it is abstract (they don't discuss specific amounts). Even when they do, the numbers are hypothetical. They never seem to match my numbers, so how do I know if it's the right advice for me?

If I do this, the numbers will be real & concrete. They will probably not match your numbers (because each person's situation is unique), but at least my thinking can be evaluated in a real context.

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