tag:blogger.com,1999:blog-5465015914589377788.post2135540521088106995..comments2024-02-17T11:07:06.232-05:00Comments on Michael James on Money: Taking the Gail Vaz-Oxlade TestMichael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-5465015914589377788.post-20630045459955872992014-04-24T16:47:26.385-04:002014-04-24T16:47:26.385-04:00@Anonymous: Interesting analogy. One of my grand...@Anonymous: Interesting analogy. One of my grandfathers once told me that he'd had coffee every day for more than 50 years but never got the habit.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-43016076887487096522014-04-24T16:37:22.399-04:002014-04-24T16:37:22.399-04:00Gail's used to working with the personal finan...Gail's used to working with the personal finance equivalent of alcoholics. So if a non-alcoholic has a glass of wine with dinner, she's going to see that as a big problem, because alcoholics think they can have one glass of wine and then stop, but they can't. As you say, there are probably more people who think they're fine than people who actually are fine...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-68510728837432616372014-04-23T19:20:48.067-04:002014-04-23T19:20:48.067-04:00@Paul: If that's been your experience, then yo...@Paul: If that's been your experience, then you should listen to the things that work for you. Even though Gail's advice doesn't often apply to me personally, I've used her methods to help others. <br /><br />I'm glad you enjoy my blog. Gail's advice probably applies to more people than my blog does, but I value my readers and their feedback.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-84150674447909565852014-04-23T18:34:39.421-04:002014-04-23T18:34:39.421-04:00Hi Michael,
I'm with you on this one. I like ...Hi Michael,<br /><br />I'm with you on this one. I like to listen to talk radio I find peoples totally opposite viewpoints on subjects fascinating. I know some people would say it's boring... Gail is on late night talk locally here, I'm usually driving just at that hour. Like you I find the value of her advice to be "mixed".<br /><br />I think people that are in dire financial situations are helped by her. I'll give her that. I don't think her advice transitions well into a group like myself seeking "second level" financial knowledge. Like optimizing your investment choices and paying attention to fees, etc. I found myself shaking my head a few times. I have never heard her discuss issues like you would find here. More "taming your debt snowball" stuff and she has guests with non financial related stories on. ("The View" Canada style comes to mind)<br /><br />I like listening to a wide variety of investing pod-casts + shows. I really wind up turning hers off. In my honest opinion I feel she does not always give the best advice so I find some of her ideas frustrating to listen too. paulhttps://www.blogger.com/profile/00050081178673700867noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-29644941435383542142014-04-22T20:06:04.899-04:002014-04-22T20:06:04.899-04:00Interesting self-test. I will have to take that. ...Interesting self-test. I will have to take that. I suspect I have a mixed bag of ratings.My Own Advisorhttp://www.myownadvisor.canoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-72577562442805673472014-04-22T11:32:56.230-04:002014-04-22T11:32:56.230-04:00@Jambo411: In my experience, how close your outgo ...@Jambo411: In my experience, how close your outgo is to your income is a matter of personality (to a point). I've know couples with quarter-million dollar incomes who couldn't make ends meet, and I recall one couple who kept things together at well below the so-called poverty line. Even when I had almost nothing I managed to spend less than my means without budgeting or tracking my spending. Of course, things were simple back then. My money went to food, shelter, tuition, books, and nothing else. (I counted on gifts for clothes.)Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-83437232874835578932014-04-22T11:21:52.499-04:002014-04-22T11:21:52.499-04:00Also Gail's rules would be more important the ...Also Gail's rules would be more important the closer that your income was to your outgo. Obviously your income more than meets your needs so you have more flexibility. I have been on both sides of the street financially. I still budget but not as tightly. jambo411noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-76028461113907743462014-04-22T09:27:19.836-04:002014-04-22T09:27:19.836-04:00@AnatoliN: I have nothing against the people who n...@AnatoliN: I have nothing against the people who need Gail's methods. Some of them are members of my extended family. I've actually learned from Gail how to help some of my friends and family.<br /><br />There has never been a time when I would have rated higher than a C on any of Gail's questions. I know a few other people like this as well. I guess what I do is automatic, but it isn't really budgeting or close tracking; I just don't spend much day-to-day. I've always been this way.<br /><br />If my article came off as critical of Gail or the people she helps, that certainly wasn't my intention.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-25925799952469918252014-04-22T08:44:49.602-04:002014-04-22T08:44:49.602-04:00Michael, this is just unfair and possibly counter-...Michael, this is just unfair and possibly counter-productive. You are only able to live like you do because time ago I have (likely) done all the steps Gail demands from her audience. You live now based on experience you have earned. It's not that you do not control you cash flow, it's that you do it automatically, almost subconsciously. Like you do not use multiplication table to do you calculations. Give people a chance to learn.AnatoliNhttps://www.blogger.com/profile/07937984526970646627noreply@blogger.com