- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Personal Finance Tips
Posted on 11/21/19 at 2:37 pm
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
12
Posted on 11/21/19 at 2:54 pm to bayoubullish
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%
You don't save money when you spend money
I.e. 10% off isn't saving 10% it's spending 90%
Posted on 11/21/19 at 3:06 pm to bayoubullish
Save half of your money.
??
Profit.
??
Profit.
Posted on 11/21/19 at 3:19 pm to bayoubullish
Never loan money to family or friends.
This post was edited on 11/21/19 at 3:20 pm
Posted on 11/21/19 at 3:25 pm to bayoubullish
Keep an eye on your wife's credit card statements
Posted on 11/21/19 at 3:26 pm to Huey Lewis
quote:
I.e. 10% off isn't saving 10% it's spending 90%
I need to to get this put on my wife's credit card.
Posted on 11/21/19 at 5:08 pm to bayoubullish
Never underestimate the other guy’s greed
Posted on 11/21/19 at 8:20 pm to bayoubullish
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 on 11/21/19 at 8:46 pm to bayoubullish
Max 401k and Live on the difference
Posted on 11/21/19 at 9:44 pm to Mr.Perfect
Start early, diversify, max out tax deferred opportunities. Get rich slowly, turtle wins the race.
Posted on 11/21/19 at 10:24 pm to bayoubullish
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.
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 on 11/22/19 at 7:48 am to bayoubullish
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.
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 on 11/22/19 at 8:00 am to bayoubullish
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 on 11/22/19 at 8:33 am to notsince98
Get a budgeting software like Mint and track all of your spending and income. Create goals and budgets that help you reach those goals and track yourself each month against those objectives.
Personal finance doesn’t have to a scary, difficult thing. Follow the general rules that folks will layout here and you will be ahead of 90% of the population.
Personal finance doesn’t have to a scary, difficult thing. Follow the general rules that folks will layout here and you will be ahead of 90% of the population.
Posted on 11/22/19 at 9:10 am to lynxcat
quote:
Get a budgeting software like Mint and track all of your spending and income. Create goals and budgets that help you reach those goals and track yourself each month against those objectives.
Is this common amongst this crowd? I take an entirely different approach that requires less management.
Determine desired savings rate, determine savings allocation (401k, IRA, post-tax investment vehicles, emergency fund, travel fund, etc), direct deposit into those accounts. Leftover to checking for spending.
Posted on 11/22/19 at 9:23 am to Spitting Venom
quote:
Is this common amongst this crowd? I take an entirely different approach that requires less management.
Determine desired savings rate, determine savings allocation (401k, IRA, post-tax investment vehicles, emergency fund, travel fund, etc), direct deposit into those accounts. Leftover to checking for spending.
I think it is very common, yes. It isn't about more or less management it is about more knowledge. You clearly needed some of this knowledge to know how much to divert to all your different accounts.
How do you know what is left in your checking account is enough? If you want to save for something new, how do you know how much you can put towards it? If shite goes south, how much are you spending on groceries, utilities, bills, etc. per month?
There are a whole multitude of reasons to know how much you are spending where. It allows you to make better decisions and maximize how far your money goes.
This post was edited on 11/22/19 at 9:24 am
Posted on 11/22/19 at 12:12 pm to bayoubullish
The only time it matters what kind of car you drive is high school.
Posted on 11/22/19 at 2:07 pm to Auburn80
I'm pretty good with not spending much. Go to Wal-Mart and buy things in bulk and the non-name brand stuff as long as the quality is more or less the same. Then shop at the regular grocery stores in between Wal Mart trips. Cook almost all of my meals. You can cook a big dinner and bring the leftovers for lunch the next day. Eating out, drinking Starbucks, etc. all add up a ton. Also, quit drinking alcohol or greatly reduce it. Saves a lot of money and allows you more time to work or do other productive activities, to say nothing of being more productive work wise.
As far as buying clothes, keep your wardrobe simple.
As far as buying clothes, keep your wardrobe simple.
Posted on 11/22/19 at 2:26 pm to SaintsTiger
quote:
As far as buying clothes, keep your wardrobe simple
Never pay full price for clothes. Hit up the outlet malls. Example, I just bought a pair of $200 designer jeans for $50 last night—same price as a pair of Levi’s. Most stores run 40 and 50% discount days. Wait for the sales.
Try on designer brands to get the current, trendy look you want then find something similar that’s cheaper.
One caveat: do not skimp when buying suits. It’s the one piece of men’s clothing that’s an investment. The investment you’re making is in yourself; you’re communicating what you think about yourself. Make sure to buy good quality materials and that suit will last you a long time. No need to spend a grand, but a $100 suit will look cheap and your potential future boss can tell when you walk into the interview. Women will notice, too. (Also goes for sports jackets, dress slacks, etc)
This post was edited on 11/22/19 at 2:58 pm
Posted on 11/22/19 at 2:38 pm to bluestem75
quote:
One caveat: do not skimp when buying suits. It’s the one piece of men’s clothing that’s an investment.
Maybe for those over 40. I’ve traveled across the country for years now and suits seem to be nonexistent for the under 35 crowd.
Page 1 of 2
Back to top
Follow TigerDroppings for LSU Football News