Enjoyed Mr Money Mustache's post today: http://www.mrmoneymustache.com/2019/08/ ... -per-hour/
I wonder if we could do something similar here on the forum (share specific information about insurance, etc.)?
I probably don't spend enough time/attention on this...
Optimization Council Japan
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Optimization Council Japan
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eMaxis Slim Shady
eMaxis Slim Shady
Re: Optimization Council Japan
I couldn't get past the title on this one. What's it about? 
Re: Optimization Council Japan
I don't have any outstanding debts so it's a bit hard to participate, but I can say one of the first steps to take is cut out all the insurance on things that can't bankrupt you.
Yeah, I understand it's scary but:
- You should have an emergency fund.
- Insurance has to be profitable on average. That means that on average, it is more expensive to be insured.
- Health insurance in japan has monthly expense caps that are linked to your salary,so getting ill won't bankrupt you. Some people may elect for it anyway just so that insurance covers private room costs and whatnot, that's a personal choice I can understand some people would like to make, but it's an optional expense and a luxury.
- If you own a car that is expensive to replace, the car is too expensive for your budget. Downgrade and just stick to liability only insurance. Also drive safe
- You probably should have solid liability coverage because if you accidentally run over a high income fellow you're going to be liable to their family for future earnings. Scary stuff -_- Hell, crashing into their Ferrari would be bad enough...
- Mortgage is definitely going to be a shop around thing, but rates are really low here, so yay for that.
Japanese people love insurance, and I know many that spend huge amounts on it monthly for peace of mind, but a good emergency fund will do better in the long run than bleeding out your income to insurance companies. Good luck convincing your partners of this though...
Yeah, I understand it's scary but:
- You should have an emergency fund.
- Insurance has to be profitable on average. That means that on average, it is more expensive to be insured.
- Health insurance in japan has monthly expense caps that are linked to your salary,so getting ill won't bankrupt you. Some people may elect for it anyway just so that insurance covers private room costs and whatnot, that's a personal choice I can understand some people would like to make, but it's an optional expense and a luxury.
- If you own a car that is expensive to replace, the car is too expensive for your budget. Downgrade and just stick to liability only insurance. Also drive safe
- You probably should have solid liability coverage because if you accidentally run over a high income fellow you're going to be liable to their family for future earnings. Scary stuff -_- Hell, crashing into their Ferrari would be bad enough...
- Mortgage is definitely going to be a shop around thing, but rates are really low here, so yay for that.
Japanese people love insurance, and I know many that spend huge amounts on it monthly for peace of mind, but a good emergency fund will do better in the long run than bleeding out your income to insurance companies. Good luck convincing your partners of this though...