Comments on: The “dark suit, grey suit and blue suit” of personal finance http://www.thickenmywallet.com/blog/wp/2008/08/27/the-dark-suit-grey-suit-and-blue-suit-of-personal-finance/ Everything to do with thickening your wallet Wed, 01 Feb 2012 15:44:00 +0000 hourly 1 http://wordpress.org/?v=3.3 By: This and That #107 http://www.thickenmywallet.com/blog/wp/2008/08/27/the-dark-suit-grey-suit-and-blue-suit-of-personal-finance/comment-page-1/#comment-16602 This and That #107 Fri, 29 Aug 2008 02:04:07 +0000 http://www.thickenmywallet.com/blog/wp/?p=362#comment-16602 [...] Being an engineer (we really take Dilbert’s maxim that “a well-dressed engineer has no credibility to heart”), I’ve never heard the expression “dark suit, grey suit and blue suit”. Thicken my Wallet applies it to personal finance. [...] [...] Being an engineer (we really take Dilbert’s maxim that “a well-dressed engineer has no credibility to heart”), I’ve never heard the expression “dark suit, grey suit and blue suit”. Thicken my Wallet applies it to personal finance. [...]

]]> By: admin http://www.thickenmywallet.com/blog/wp/2008/08/27/the-dark-suit-grey-suit-and-blue-suit-of-personal-finance/comment-page-1/#comment-16587 admin Wed, 27 Aug 2008 19:25:27 +0000 http://www.thickenmywallet.com/blog/wp/?p=362#comment-16587 Sorry, I have edited the post to say if your carrying costs is more than 43% of gross. Sorry for the confusion. Sorry, I have edited the post to say if your carrying costs is more than 43% of gross. Sorry for the confusion.

]]> By: moneygardener http://www.thickenmywallet.com/blog/wp/2008/08/27/the-dark-suit-grey-suit-and-blue-suit-of-personal-finance/comment-page-1/#comment-16585 moneygardener Wed, 27 Aug 2008 18:03:44 +0000 http://www.thickenmywallet.com/blog/wp/?p=362#comment-16585 Same commetn as Gene's regarding debt. If mortgage is included in that then, we are in deep trouble. I think debt levels are better measured against assets, rather than against income. Same commetn as Gene’s regarding debt. If mortgage is included in that then, we are in deep trouble. I think debt levels are better measured against assets, rather than against income.

]]> By: Gene http://www.thickenmywallet.com/blog/wp/2008/08/27/the-dark-suit-grey-suit-and-blue-suit-of-personal-finance/comment-page-1/#comment-16584 Gene Wed, 27 Aug 2008 16:52:01 +0000 http://www.thickenmywallet.com/blog/wp/?p=362#comment-16584 Seems like millions of people would have over 50% of their gross incomes in debt. Even a couple earning $200,000 combined could easily have a $120,000 mortgage. If there's additional debt in the form of student loans or cars, they would be well over 50%. Or are you referring to debt expenses? At any rate, I'm sure society in general is overly indebted. Just looking at the housing crisis in the USA is indicative of that. I guess as one's finances improve, they can add more suits. Estate planning, tax planning, etc. but your three suits are a nice place to begin for someone just starting out, as you mention. Too high a savings rate? Good question. I have a friend who lives in a low-end home. He's early forties, unmarried, no kids. His net worth is high, his income is increasingly huge. I urge him to upgrade his standard of living, but he is very frugal (so am I). He doesn't have a significant other to encourage him to spend money to improve his situation (I do). Seems like millions of people would have over 50% of their gross incomes in debt. Even a couple earning $200,000 combined could easily have a $120,000 mortgage. If there’s additional debt in the form of student loans or cars, they would be well over 50%. Or are you referring to debt expenses? At any rate, I’m sure society in general is overly indebted. Just looking at the housing crisis in the USA is indicative of that.

I guess as one’s finances improve, they can add more suits. Estate planning, tax planning, etc. but your three suits are a nice place to begin for someone just starting out, as you mention.

Too high a savings rate? Good question. I have a friend who lives in a low-end home. He’s early forties, unmarried, no kids. His net worth is high, his income is increasingly huge. I urge him to upgrade his standard of living, but he is very frugal (so am I). He doesn’t have a significant other to encourage him to spend money to improve his situation (I do).

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