Buying things we don't need. It makes us poorer, so we have to work more just to break even. Often we'd be better off not buying. The biggest household expense , other than our house, is health / medical costs. Is private health insurance worth it? Finance expert Scott Pape ( The Barefoot Investor ) says in many cases the answer is no. He reckons if you're under 31, or earn under $90,000 ($180,000 for couples) you're probably better off without it. Why? Australia has "one of the best public health systems on the planet" that's already paid for; so you may as well use that. (Note: This may be a different story in the USA and other countries). The exception is if you're over 30 and a high income earner. What's wage got to do with it? Health insurance is one product the government punishes you for not buying. If you're a high income earner you'll be taxed more if you don't buy some. If you decide to buy some later in life (later t...
Looking for a life of less clutter, less expense and more meaning.