tag:blogger.com,1999:blog-8554669300211186451.post8608035252587531078..comments2023-11-03T07:15:30.936-06:00Comments on A Canadian and Her Money: Is My Reserve Fund Approach Any Good? A Debate in Three Actsthe money divahttp://www.blogger.com/profile/02728722430433817334noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8554669300211186451.post-74845819862373305172007-06-11T12:01:00.000-06:002007-06-11T12:01:00.000-06:00I am recently getting caught up on your blog- that...I am recently getting caught up on your blog- that's some great analysis you have going!<BR/><BR/>However, I do agree with Four Pillars- budgetting for items which are 10 years out may not be the most productive of exercises. I live in a condo and reserve fund contributions tend to be more for items which at 0-5 years out. To be Stalin-esque about it, you may want to do rolling 5 year plans/budgets or you could be tying up money which you can otherwise use to invest.<BR/><BR/>One other point, for any matter which requires hired labor (i.e. most people I know hire a roofer), you should generally factor in a 15% over-run in costs.Thicken My Wallethttps://www.blogger.com/profile/10760590873687255498noreply@blogger.comtag:blogger.com,1999:blog-8554669300211186451.post-77828186499708482072007-06-11T10:34:00.000-06:002007-06-11T10:34:00.000-06:00I don't think it's a bad approach. If you are mak...I don't think it's a bad approach. <BR/><BR/>If you are making decisions about spending during the year then you want to know what your basic and upcoming costs are. If you don't know all the costs then you might think you have more spending money than you actually do.<BR/><BR/>One other point - I'm not sure of the relevance of budgeting for items that aren't going to happen for a long time (10+ years) since most people (especially younger) probably won't be living in the same house by then.<BR/><BR/>MikeAnonymousnoreply@blogger.com