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9 Comments
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William Bjornson
"Do you tend to underestimate your future expenses?"
Many do, and, besides naive optimism, it is the basis and foundation and root of the wild success of the parasitic 'credit' industry and its derivative army of vulturic collection agencies.
Toshihiro
I overestimate. I always anticipate that I will overspend on basic needs and spend some extra on emergencies. Especially in times right now, I have developed an inclination towards being very conservative in my expenses.
Aly Rustom
Yes because I have 2 kids, and didn't realize the extent of the expenses.
kohakuebisu
Yes, because the price of food has rocketed in the past five years, the price of energy in Japan has gone up since Fukushima, but wages have not gone up. Interest on savings is minimal and does not cover any price increases.
Anyone who was planning to build a wooden house in the past year or two will have been looking at 20% increase in cost. That makes a big difference.
GBR48
We all did, as we didn't realise our governments were going to destroy our currencies, global trade and the economy.
Now we know how incompetent they are, we can plan accordingly by getting second or third jobs and working until we drop.
piskian
Don't know yet.
ZALD
I've been working for current job, however, I've never thought about such a thing. Many are considering future expenses according to the comments above, so it inspired me to think about financial affairs.
OssanAmerica
Cost of living increases are higher in the US, EU and elsewhere than Japan. So everyone is in the same boat to varying degrees. So any "estimate" of future expenes based upon present or past expenses is obviously going to be an underestimation. I don't know of anyone actually follows Cost of Living Indexes on a quartly basis to determine what percentage increase should be added to their "future estimate". Which would still be good for only one year forward, other than fixed expenses.
GBR48
@OssanAmerica.
quoting: I don't know of anyone actually follows Cost of Living Indexes on a quarterly basis to determine what percentage increase should be added to their "future estimate"
That's because official government figures bear no relation to the reality of our everyday lives. They are as fake as campaign promises.