What's the best Personal Financial advice you've ever heard?

Question

What are some of the most important things you've learned in life about money that you can share?

Answer 1

Best financial advice: don't take financial advice from strangers.

Answer 2

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.

Answer 3

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.

Answer 4

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.

Answer 5

whats up dude, my mom died about 14 months in the past the very similar way. i'm in my 40's and all of us new she grow to be fading fora month secure previous to getting that undesirable. all of us were given to assert our goodbyes. We cried our tears besides the undeniable fact that the devastating drama you're coping with grow to be no longer area of my grieving. I omit mom that is for particular, yet i understand mom is in a more beneficial advantageous position. heaven. in the adventure that your mom grow to be kept then i can assure you your mom is living it up in the present day. in the adventure that your mom grow to be no longer kept i can not educate you on what her staggering destiny will be. yet to the finest of my understanding she isn't in hell in the present day as maximum non secular people will allow you to understand. in an attempt that can help you get again to the position you want to be will come from understanding what the type of marvelous number of others understand in case you want training i can help all i can basically e-mail me. Dinosaur

Answer 6

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.

Answer 7

The best advice: buy low and sell high. It's easier said than done.

Answer 8

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.

Answer 9

just visit daveramsey.com to learn what bankers, college, credit slave cards never ever want me to know or worse Apply.

Answer 10

Neither a lender nor a borrower be.