4 Nov
What’s the best Personal Financial advice you’ve ever heard?
Posted in Personal Finance by admin 9 Comments
zander1331 asked:
What are some of the most important things you’ve learned in life about money that you can share?
What are some of the most important things you’ve learned in life about money that you can share?
robert w
on November 5 2008
just visit daveramsey.com to learn what bankers, college, credit slave cards never ever want me to know or worse Apply.
aj
on November 8 2008
To set money aside, either by having it taken directly out of your pay,or being disciplined enough to “pay yourself” every payday, because it’s human nature to pay the bills and then spend the rest. But you really don’t notice a small percentage being taken out, and it can grow into a substantial amount.
Michele
on November 9 2008
The 60 percent rule. I read it on the msn.com Money section, and it is to make a goal for 60 percent of your money to go toyour committed expenses each month, being food, utilities, rent/mortgage, insurance, household expenses of all sorts, and all of your bills, even non essentials like cable. The remaining is split as so: 10 percent to retirement savings, 10 percent to long term savings for things like a house, a car, or something big like that, 10 is just for fun stuff, 5 percent to a short term savings for your emergency fund and 5 percent for an irregular expense fund for things like gifts, car repairs and random medical issues.
I’m not all the way there yet but it is a good goal and I am working towards it.
regerugged
on November 10 2008
The best advice: buy low and sell high. It’s easier said than done.
Rob D
on November 12 2008
Unless you are absolutely confident in what you are doing, see a financial advisor. If you are confident, see one anyway.
In all seriousness, start early! Wish I’d have listened to this one.
lizzgeorge
on November 15 2008
Prince Charming isn’t coming, ladies! Don’t wait for a man (father, husband, or boyfriend) to sweep you off your feet and take care of you financially. Get yourselves a good education and job, buy yourself a car and home, and go about creating your own life.
You’ll have much more to offer your prince when you meet him, and he won’t have the pressure of wondering if he can afford you.
olegos
on November 17 2008
Best financial advice: don’t take financial advice from strangers.
Consultleu
on November 18 2008
1. Start saving early
2. Diversify your investments
3. Don’t follow the crowd
4. If it is too good to be true it probably is
5. Your broker is usually more broke than you
6. Do your homework
7. Invest in low-cost index funds (www.vanguard.com)
8. Keep an emergency fund that covers 3-6 months of expenses
9. If needed, buy term insurance and invest the difference
10. Live within your means
One more thing: Enjoy Life! Live each day to the fullest.
mattzcoz
on November 20 2008
Neither a lender nor a borrower be.