Wednesday, 29 September 2010

Six situations where you should gladly overpay (Part 3 of 6)


If your insurance does not cover a vital treatment, figure out how you can pay for it yourself. If necessary, liquidate your investments and sell your house. Even if you have to cross the ocean, you should go to see the best doctors. The purpose of frugality in trivial purchases is to allow you to overspend when the need arises.

[3] Correcting critical mistakes: if you are in business or professional practice, a time will come when you will commit an important error. Those who take initiative inevitably make mistakes, since those constitute an essential ingredient of success.

Having committed a serious error represents the type of situation for which you want to keep sufficient financial reserves. Acknowledge the problem and find out how you can fix it. Be willing to overpay for a quick solution that puts an end to the story. That will be money well spent. Learn your lesson and move on to the next project.

To be continued in Part 4

[Text: http://johnvespasian.blogspot.com]

[Image by Rene Ehrhardt under Creative Commons Attribution License. See the license terms under http://creativecommons.org/licenses/by/3.0/us]

Six situations where you should gladly overpay (Part 3 of 6)


If your insurance does not cover a vital treatment, figure out how you can pay for it yourself. If necessary, liquidate your investments and sell your house. Even if you have to cross the ocean, you should go to see the best doctors. The purpose of frugality in trivial purchases is to allow you to overspend when the need arises.

[3] Correcting critical mistakes: if you are in business or professional practice, a time will come when you will commit an important error. Those who take initiative inevitably make mistakes, since those constitute an essential ingredient of success.

Having committed a serious error represents the type of situation for which you want to keep sufficient financial reserves. Acknowledge the problem and find out how you can fix it. Be willing to overpay for a quick solution that puts an end to the story. That will be money well spent. Learn your lesson and move on to the next project.

To be continued in Part 4

[Text: http://johnvespasian.blogspot.com]

[Image by Rene Ehrhardt under Creative Commons Attribution License. See the license terms under http://creativecommons.org/licenses/by/3.0/us]