- Joined
- Apr 14, 2006
- Messages
- 23,183
Welcome, friend. I look forward to hearing more from you.My first post from Texas...
Nice to meet all of you!
Welcome, friend. I look forward to hearing more from you.My first post from Texas...
Nice to meet all of you!
It's all good. But as point of reference, if you had $30K cash and "spent" it by buying a stock or gold, would you consider that a spend of this year? What about if you had $300K and "spent" it on a home?As I already stated, I think I will ignore it, thanks. I don't think that honestly including everything I spent buying a car in the year when I spent it, overstates what my spending is at all; if I spent the money, it is spent. That's reality, in my life anyway, whether I total the car in a month or keep driving it for 20 years. If I can buy something and keep my spending under 4% I don't see what the big deal is in owning up to having bought it that year.
Nah, doesn't remind me of my old job. I don't have to worry about deadlines (artificial or otherwise). I don't attend meetings or sit in on endless conference calls where nothing is accomplished. I don't have office politics and drama.All this recapping of expenses reminds me of my old job. Nothing fun about that. I know my total w/d's and what I received from SS so have a pretty good idea how much I spent. Good enough for me. I'll leave the old devil dormant in the details.
All this recapping of expenses reminds me of my old job. Nothing fun about that. I know my total w/d's and what I received from SS so have a pretty good idea how much I spent. Good enough for me. I'll leave the old devil dormant in the details.
It's all good. But as point of reference, if you had $30K cash and "spent" it by buying a stock or gold, would you consider that a spend of this year? What about if you had $300K and "spent" it on a home?
As you started this thread though it's all for fun, so indeed let's just party on.
I track our total spending and have a good idea of where it goes, but leave it at that. Our spending had been flat for a few years, this year went up due to increased travel.
All this recapping of expenses reminds me of my old job.
I don't keep track either, I estimate a hundred grand.
Yes, that's what most (all?) do - but an investment is an asset, so is an Auto. So why expense it all in the year you "pay" for the car when you haven't used up the "value"?I don’t know what W2R would do. Here’s what Iwould do/have done:
If I had $30K cash and used it to buy stocks or gold, I would consider that an investment, not an expense. My cash allocation would decrease and my equity or precious metals allocation would increase. I would not have spent anything.
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...but is there really a difference?
I'll follow your question with another - since GAAP doesn't apply, does it really make a difference how one individual on this forum accounts for their spending?
Why yes, yes it does. Traditionally, forum members want their way of doing anything to the the one correct way and all other methodologies to be considered "wrong."
I'll follow your question with another - since GAAP doesn't apply, does it really make a difference how one individual on this forum accounts for their spending?
I'd show the spend as an asset and then take depreciation (estimate) each year.
This could be true however I'm on day 3 of at least 4 days of weather that won't go above zero, so I'll sit at the keyboard and argue about anything.
No you won't.
I really make it easy, I just lease and know what my expense is each year and don't have any unusual hits to me spend for "one time" purchase or maintenance items.It is true that there's a lot of residual value in a car, even though one loses a bunch after signing the paperwork, even earlier than after driving off the dealer lot as the proverbial saying goes.
And so, depreciating it over a number of years is the correct accounting principle. However, I would need to keep track of my vehicle values to update my networth, and as I do not even keep track of my homes, I will forget about my vehicles (which are old and not worth much anyway).
Why yes, yes it does. Traditionally, forum members want their way of doing anything to be the one correct way and all other methodologies to be considered "wrong."
I really make it easy, I just lease and know what my expense is each year and don't have any unusual hits to me spend for "one time" purchase or maintenance items.
Based on my lease payments it would take over 9 years for my car to "fully depreciate" (purchase price including taxes / monthly lease payment).