Fiscal Responsibility

[Da Klugs]

Hobbies are meant to enhace our lives in positive ways. When a hobby becomes our lives... that is an obsession and only "The Alba Obsession" is generally good for us.

General - Duh - Mr. Obvious comment -

Know what your disposable income is based upon being a responsible adult. No cheating and not putting money in the 401k to support a buying habit. Food is not optional. Housing is not optional. Utility payments are not optional. Buying cigars when you carry a credit card balance month to month (and you have cigars to smoke) is really the answer to the unspoken question we each should ask ourselves - " Do I have a Problem".

If you are married - assume your bride can spend the same amount on "her hobbie" as well. Tends to help put things in perspective.

It's all relative is a term that everyone needs to understand. Just because you see folks out of control and buying things left and right.. it does not justify your behavior nor does it necessarily represent to them what it might to you to spend so much on cigars.

Klugs general rule of thumb:

No Job No income - Dont buy cigars (at least not by the box)
Ongoing Credit card Debt - Buy only what you can smoke in a month
Feeling secure but college for kids is not funded - Less than 5%
Feeling secure but not loaded - Know your DI and spend <10%
Feeling secure, college fund looks good but still have Mortgage < 15%
Fully funded on all fronts, College, retirement, home, -