Tuesday, 10 Jun 2008
Yesterday, one of my coworkers asked me which brokerage I used for my IRA and if I was satisfied with them. I told her I had two - one with TD Ameritrade and one with ShareBuilder - and I was happy with both. I also told her that ShareBuilder has a $25 annual fee if you don’t enroll in their automatic investing plan. Her response was that it’s just $2/month. And she’s right, but…
I think those small expenditures can trip us up. Sure it’s only $2/month. But then, HBO is only $10/month, stopping at Starbucks every once in a while is only $15/month and those extra features on your phone are only $5/month and before you know it, you’ve squandered $50-100/month. Why not reclaim some of those funds and put them where they count - on things that are important to you? Being frugal doesn’t mean depriving yourself but it does mean evaluating how you spend your money and how to make the most of what you have.