Comments on: You Tell Me: The Best Financial Advice

By: Joe

Joe — Tue, 26 Aug 2008 07:22:58 +0000

The best financial advise I have ever received was the power of Salary Sacrafice into my Super fund. I was almost 40 then (about 10 years ago) and not really focusing on wealth growth. (hard to when you are raising a family and paying off a morgage. However I relised that there was never any surplus funds only because what went in went out. As it is hard to budget when you have a growing middle class family, I found that by SS I could, 1. avoid the tax slug because it comes of the top of your salary, 2 money was automatically removed from your account thereby removing any temptations, and 3 learning to adjust to the reduced earning was not that hard at all. The net result was a huge growth in Super for an earlier retirement

By: Don’t Feed the Alligators » Blog Archive » Monday Roundup 4-14-2008

Tue, 15 Apr 2008 00:21:51 +0000

[...] at BeingFrugal.net solicited the best financial advice that her readers had ever received. My words of wisdom were 1.Pay yourself first and 2. Anything [...]

By: How To Invest

How To Invest — Sun, 13 Apr 2008 21:56:06 +0000

I dont think I have ever actually recieved any good financial advice. Most people around me, including my parents, are completely naive when it comes to money.

From TV(its good for something) and reading I would say, “A dollar saved is a dollar earned.”

Yes its a common saying but it really boils down to becoming financially independent.

By: Samantha Rees

Samantha Rees — Sun, 13 Apr 2008 18:16:26 +0000

The best advice I ever received was on my Wedding Day from my Great Grandmother. (I’m English so the saying is in ‘Old Money’). She Said
“If you earn 1 pound and 10 shillings and you spend 1 pound 10shillings and 5 pence you will have misery. If you earn 1 pound and 10 shillings and spend 1 pound 9 shillings then you will have happiness” VERY WISE WORDS

By: Moneyblogga

Moneyblogga — Sun, 13 Apr 2008 14:31:58 +0000

I’ve racked my brain trying to remember anything anyone ever told me back in the day regarding finances. I have to say that I cannot think of a single thing. Saving was never encouraged in my household growing up. My parents lived hand to mouth and every car we ever had (which was usually one step from the junk yard) was financed. People just didn’t seem to share their secrets. I guess I knew the value of being money-smart but I fell into the consumer trap of buying more, more, more. At one point, I had a huge house filled with furniture. We all began to refer to it as “the museum” because there were rooms we never went into. Does that type of financial stupidity depress me now? You bet. The internet has definitely changed the cultural landscape – I wish it had been around during the first 25 years of my life which it wasn’t.

By: Moneyblogga

Moneyblogga — Sun, 13 Apr 2008 14:30:41 +0000

I’ve racked my brain trying to remember anything anyone ever told me back in the day regarding finances. I have to say that I cannot think of a single thing. Saving was never encouraged in my household growing up. My parents lived hand to mouth and every car we ever had (which was usually one step from the junk yard) was financed. People just didn’t seem to share their secrets. I guess I knew the value of being money-smart but I fell into the consumer trap of buying more, more, more. At one point, I had a huge house filled with furniture. We all began to refer to it as “the museum” because there were rooms we never went into. Does that type of financial stupidity depress me? You bet. The internet has definitely changed the cultural landscape – I wish it had been around during the first 25 years of my life which it wasn’t.

By: Jess

Jess — Sun, 13 Apr 2008 12:58:01 +0000

The person you are working for is in the mirror.

And, Personal finance is exactly that PERSONAL finance.

By: Lisa

Lisa — Sat, 12 Apr 2008 17:50:31 +0000

Sorry you’re not feeling well.
I enjoyed your post. I think responsible personal finance is important. You can’t hang the world out to dry while your cashing in.

Let’s see, best financial advice I’ve ever received…
From my Mother: Work hard, and always sock some away for a rainy day.
From my Father: Be sure to own your home.

Best,
Lisa

By: Jia

Jia — Sat, 12 Apr 2008 17:50:31 +0000

The best advice I can give (cause I haven’t been given very good advice myself lol) financially was a few months after I got married. I tell all my newlywed friends now, “Just because you now have two incomes, does not mean your money has doubled.”

When my husband and I were bringing in at least $600 each, we were thrilled to hold over a thousand dollars in our hands. Afterall, single we only ever spent around $400 to 500 on bills, so that meant we had about $700 left to spend freely, right?

WRONG! More people in a family means more food, more groceries, higher bills and depending on your situation, more debt.

Jia
http://www.modernmollymormon.blogspot.com

By: Pension

Pension — Sat, 12 Apr 2008 17:49:10 +0000

For me it has to be spend less than you earn.