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Personal Finance Tips

Posted on 11/21/19 at 2:37 pm
Posted by bayoubullish
Lafayette, LA
Member since Nov 2018
24 posts
Posted on 11/21/19 at 2:37 pm
What are some of the best personal finance tips you've ever received? I'm reading a book with some helpful, but pretty basic stuff. I wanna find the non-obvious things that I might be missing
Posted by Huey Lewis
BR
Member since Oct 2013
4663 posts
Posted on 11/21/19 at 2:54 pm to
Spend less than you make

You don't save money when you spend money

I.e. 10% off isn't saving 10% it's spending 90%
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 11/21/19 at 3:06 pm to
Save half of your money.
??
Profit.
Posted by Brobocop
Baton Rouge, LA
Member since Feb 2018
1906 posts
Posted on 11/21/19 at 3:19 pm to
Never loan money to family or friends.
This post was edited on 11/21/19 at 3:20 pm
Posted by Turftoe
Denver
Member since Mar 2016
3923 posts
Posted on 11/21/19 at 3:25 pm to
Keep an eye on your wife's credit card statements
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
75274 posts
Posted on 11/21/19 at 5:08 pm to
Never underestimate the other guy’s greed
Posted by GulfCoastPoke
Port of Indecision
Member since Feb 2011
1087 posts
Posted on 11/21/19 at 8:20 pm to
There is the finance side of PF and then there is the personal side of it. Psychology, motivation and emotions are involved with PF and it is not purely a knowledge game. You’ve got to know yourself and you your spouse (if applicable) and develop your routine and strategy around those things.
Posted by Mr.Perfect
Louisiana
Member since Mar 2013
17438 posts
Posted on 11/21/19 at 8:46 pm to
Max 401k and Live on the difference
Posted by makersmark1
earth
Member since Oct 2011
15978 posts
Posted on 11/21/19 at 10:24 pm to
Pay yourself first.

Max all retirement accounts.

Do not spend money you don’t have on things you don’t need.

A house is a place to live.
A car is a transport device.

Avoid debt. Interest does not take a Holiday.

Do not overdo lifestyle. Keeping up with the Jones’s is pointless.

Value your time.

Posted by Delacroix
Member since Oct 2008
3988 posts
Posted on 11/22/19 at 7:48 am to
automate your savings

Keep what you need for the month in your checking account. Set up your bank account to automatically transfer an amount from checking to savings on your payday. Don't give yourself the satisfaction of seeing a large amount in your checking account.
Posted by notsince98
KC, MO
Member since Oct 2012
18073 posts
Posted on 11/22/19 at 8:00 am to
Eliminating debt provides a healthier lifestyle with lower stress and greatly enhances your job options as you are much more financially flexible and don't require a specific minimum income level to maintain.
Posted by Auburn80
Backwater, TN
Member since Nov 2017
7579 posts
Posted on 11/22/19 at 12:12 pm to
The only time it matters what kind of car you drive is high school.
Posted by EA6B
TX
Member since Dec 2012
14754 posts
Posted on 12/5/19 at 5:20 pm to
Saving money is important, investing it properly even more important. Everyone has their own ideas about what are the best investments, but a basic rule is never invest in anything you don't fully understand, if you cant explain to your spouse exactly how a investment makes you money and what the risk is find another investment vehicle that you do understand completely.
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