Comments on: Why It’s Great to Lose Money in a Savings Account http://magicalpenny.com/saving-money-and-losing-it/ Grow your money and learn to invest Sun, 29 Jan 2012 17:20:56 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Jon http://magicalpenny.com/saving-money-and-losing-it/comment-page-1/#comment-50 Jon Thu, 25 Feb 2010 13:41:35 +0000 http://magicalpenny.com/?p=98#comment-50 Hey Adam, only just started reading this properly so I might make a few out-dated comments. I'm sure a few will play devil's advovacate, but you're doing well so far. I was lucky enough to have a savings account from a very young age. It has run very much along the lines you have mentioned throughout your blog, growing with certain opportunities and shrinking as I have pursued opportuities and purchases of my own. There is a lot of value in sliding away that £50 of Christmas money that you don't 'really' need to spend right now. Also, when clearing my student overdraft (over £1k), by syphoning off large amounts of my wage while living at home (basically paying board and living off a small amount a week, but perhaps adding to the overdraft very slightly) I kept costs down artificially below what they would have been tempted to be otherwise. As soon as I hit just below the interest free limit, the funds were transferred over as needed, with a little to spare. Then I moved out and wished I'd saved more. Anyway, I digress. Good start . Hey Adam, only just started reading this properly so I might make a few out-dated comments. I’m sure a few will play devil’s advovacate, but you’re doing well so far. I was lucky enough to have a savings account from a very young age. It has run very much along the lines you have mentioned throughout your blog, growing with certain opportunities and shrinking as I have pursued opportuities and purchases of my own.

There is a lot of value in sliding away that £50 of Christmas money that you don’t ‘really’ need to spend right now. Also, when clearing my student overdraft (over £1k), by syphoning off large amounts of my wage while living at home (basically paying board and living off a small amount a week, but perhaps adding to the overdraft very slightly) I kept costs down artificially below what they would have been tempted to be otherwise. As soon as I hit just below the interest free limit, the funds were transferred over as needed, with a little to spare.

Then I moved out and wished I’d saved more.

Anyway, I digress. Good start .

]]> By: Adam http://magicalpenny.com/saving-money-and-losing-it/comment-page-1/#comment-26 Adam Wed, 10 Feb 2010 01:04:13 +0000 http://magicalpenny.com/?p=98#comment-26 Agreed Austin. it's great that you're taking advantage of your age and lack of dependents. Thanks for coming over to the blog. It's only been a week but I'm really excited on how it's all going. Onwards and upwards. :) Agreed Austin. it’s great that you’re taking advantage of your age and lack of dependents. Thanks for coming over to the blog. It’s only been a week but I’m really excited on how it’s all going. Onwards and upwards. :)

]]> By: Austin http://magicalpenny.com/saving-money-and-losing-it/comment-page-1/#comment-24 Austin Tue, 09 Feb 2010 13:11:39 +0000 http://magicalpenny.com/?p=98#comment-24 It's a little discouraging with low interest rates, but I still love seeing the money in my savings accounts rise. After reading so much about pf, I don't look at my money the same. It's just so much easier to save now with no dependents so that keeps me going. How's the blog going so far? Austin @ Foreigner's Finances It’s a little discouraging with low interest rates, but I still love seeing the money in my savings accounts rise. After reading so much about pf, I don’t look at my money the same. It’s just so much easier to save now with no dependents so that keeps me going.

How’s the blog going so far?

Austin @ Foreigner’s Finances

]]> By: Adam http://magicalpenny.com/saving-money-and-losing-it/comment-page-1/#comment-18 Adam Sun, 07 Feb 2010 19:50:04 +0000 http://magicalpenny.com/?p=98#comment-18 Thanks Professor for stopping by. I'm looking forward to the right time to buy too as getting on the housing ladder certainly has its advantages: but it's not the best thing to do for most of my readers (people in their 20s who are just starting out). I'll be checking out your blog in more detail too -looks interesting. Thanks Professor for stopping by. I’m looking forward to the right time to buy too as getting on the housing ladder certainly has its advantages: but it’s not the best thing to do for most of my readers (people in their 20s who are just starting out).
I’ll be checking out your blog in more detail too -looks interesting.

]]> By: the professor http://magicalpenny.com/saving-money-and-losing-it/comment-page-1/#comment-17 the professor Fri, 05 Feb 2010 09:21:24 +0000 http://magicalpenny.com/?p=98#comment-17 Nice well put article. With the pressure of buying a house to get the tax credit in the states here, I know that without a sufficient down payment I will just be hurting myself. I rent, and I like it. I have complete control over my greatest monthly expense. The right time to buy will come along eventually. Keep up the good work. Nice well put article. With the pressure of buying a house to get the tax credit in the states here, I know that without a sufficient down payment I will just be hurting myself. I rent, and I like it. I have complete control over my greatest monthly expense. The right time to buy will come along eventually. Keep up the good work.

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