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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: best financial advice you can give
Posted by ml110
mine i think would be to learn the difference between things you "want" and things you "need"..... and only spend money on the things you need.
you might want that $100 dress to wear to your friends wedding, but you don't NEED it- you can find one for cheaper and save some $$.
or you might want the new stainless steel appliances in your kitchen, but you don't need them because the white ones you have are fine.
i think so many times people get caught up in appearances and "pretty things" and spend so much money on them...
ditto
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Posted 6/19/08 10:50 AM  |
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shiv
Twinsanity!!
Member since 5/07 4747 total posts
Name:
Shiv
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Re: best financial advice you can give
always pay off your credit card at the end of the month- if you can't, your spending too much!
Transfer large balances to 0% cards and pay them off in the 0% period. Don't spend on items not NEEDED until the card is paid off!
and budget is huge- always stay on track of what your spending each month, things always come up so leave yourself enough room in the budget for that and for savings.
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| Posted 6/19/08 11:03 AM |
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sasha96
lovin' my 2 little ladies!
Member since 5/05 7401 total posts
Name:
Julianne
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Re: best financial advice you can give
know what you can truly afford
don't charge something unless you know you can and will pay it off when the bill comes
when driving, try not to use the brake often...coast when you can and drive near the speed limit on parkways. DH's SUV gets an extra 5 mpg since he does this and that really adds up  !
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| Posted 6/19/08 11:12 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: best financial advice you can give
Spend less than you make
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| Posted 6/19/08 11:15 AM |
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MsMBV
:P
Member since 5/05 28602 total posts
Name:
Me
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Re: best financial advice you can give
Don't spend what you don't have.
That is the best advice I have.
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| Posted 6/19/08 11:31 AM |
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Ang-Rich
Beyond Compare
Member since 5/05 17988 total posts
Name:
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Re: best financial advice you can give
When I use my credit card - in that very moment I think "do I have the money right now to pay my bill" (not necessarily in my wallet but in the checking account. So overall I only spend what I can afford today...not tomorrow, not next paycheck...today so that all credit card bills are paid in full each month.
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| Posted 6/19/08 11:34 AM |
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seaside
LIF Adult
Member since 6/08 3101 total posts
Name:
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Re: best financial advice you can give
Posted by JRG71
Posted by Bxgell2
Live below your means. Even if you HAVE the money, you don't need to buy a McMansion, all the in clothes or the fanciest car. We do very well, but our mortgage is still 15% of our take home pay, we buy used, non-luxury cars, and I bargain shop for clothes at Marshall's, TJMaxx, etc.
This gives us a lot of financial freedom to put $ into savings and retirement every month, take nice trips, and be able to invest our $.
This is us too.
I don't have to work, but I do because that money is saved and invested.
We don't live in a McMansion... I drive a non luxury car. I don't wear desinger labels... etc.
Live beneath your means pretty much sums it up. 
ITA! Designer stuff doesn't say anything about your lifestyle if you're always financially struggling and you don't live well.
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| Posted 6/19/08 11:35 AM |
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DeniseMarie
<3
Member since 8/07 10682 total posts
Name:
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Re: best financial advice you can give
have $ in savings and dont rack up the credit card debt.
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| Posted 6/19/08 11:35 AM |
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TiggerBounce
The Prince & Princess
Member since 7/05 4939 total posts
Name:
J
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Re: best financial advice you can give
Posted by Blu-ize
sock as much into retirement as possible..that will be the time you need it most because you may not be able to work or want to work into your late 60s and 70s..
my dad still has to work at 76..
I agree 110% with this. My dad too is still (and will for some time) works at 61. My FIL is 63 and still working as well- not only working, but doing it 6 days a week-he's exhausted but needs to work. he owned his own business for 15 yrs, and never planned for the future. He tried talking DH and I out of putting money into my 401K and DH's Deffered Compensation! His reasoning is, "You need the money now" Needless to say, we didn't.
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| Posted 6/19/08 11:39 AM |
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tourist
Member since 5/05 10425 total posts
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Re: best financial advice you can give
Little things-
Avoid whatever fees you can--they add up.
( Late fees, interest on CCs, ATM fees, etc.)
Make a meal plan & shopping lists for the grocery store--you'll avoid impulse buys (mostly) and waste less.
I also agree with live ing below your means, to some extent.
Our housing costs are not really below our means (we are somewhere around the reccomended 25-30%, even though we only have a small co-op), but it is balanced out by other things we spend less than average on (cars, clothes, travel, etc).
Message edited 6/19/2008 12:00:17 PM.
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| Posted 6/19/08 11:58 AM |
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CkGm
They get so big, so fast :(
Member since 5/05 13848 total posts
Name:
Christine
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Re: best financial advice you can give
Start building good credit early- open a couple of cards, use them and pay them off monthly(do not carry a balance).
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| Posted 6/19/08 12:00 PM |
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maybebaby
LIF Adult
Member since 11/05 6870 total posts
Name:
Maureen
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Re: best financial advice you can give
Always always spend more than you earn. Follow the large frivolous charges up with a few haily mary's and our fathers, and pray that somehow the credit card bill gets covered.
Totally joking of course. Although sometimes it seems that is how it is (although with necessary charges, not frivolous).
The best thing we did was to create a budget and stick with it. It's worked well so far...
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| Posted 6/19/08 12:00 PM |
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JRG71
*****************
Member since 5/05 5025 total posts
Name:
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Re: best financial advice you can give
Posted by maybebaby
Always always spend more than you earn. Follow the large frivolous charges up with a few haily mary's and our fathers, and pray that somehow the credit card bill gets covered.
This made me 
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| Posted 6/19/08 12:52 PM |
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juanvi
Get Out!
Member since 10/06 4463 total posts
Name:
Christina
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Re: best financial advice you can give
I like the live below your means idea...but then I say Heck spend it...ya live once. I'm not a good financial advice person
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| Posted 6/19/08 1:11 PM |
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cjik
Welcome 2010!
Member since 2/06 8879 total posts
Name:
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Re: best financial advice you can give
Do your best to live within your means and avoid debt you cannot handle.
I know sometimes it's unavoidable--I lived paycheck to paycheck for quite some time and there were times things came up that required fast attention so the charge card came out.
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| Posted 6/19/08 6:46 PM |
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Janice
Sweet Jessie Quinn
Member since 5/05 27567 total posts
Name:
Janice
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Re: best financial advice you can give
don't be afraid to tell your DH "no"
This has saved me thousands!!!!!!!!!!
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| Posted 6/19/08 7:23 PM |
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sagapo
LIF Infant
Member since 6/07 231 total posts
Name:
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Re: best financial advice you can give
buying coffee every day adds up.
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| Posted 6/19/08 7:36 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: best financial advice you can give
Posted by Kara
Live well beneath your means.
yup
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| Posted 6/19/08 7:48 PM |
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JenMarie
One day at a time
Member since 11/07 7397 total posts
Name:
Jennifer
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Re: best financial advice you can give
I think staying in touch with your finances is key. Know how much you have in your bank accounts, how much each bill is, how much interest you pay on things, how much you spend on the little stuff like lunch, coffee, etc.
Leave the credit cards home and only buy what you can pay cash for today (meaning the money is in the bank).
Search for promo codes and coupons for anything and everything you buy. There's usually something out there. I rarely ever pay full price for anything (too bad they don't have sales on gas!).
Don't compare yourself with others. Just because someone drives a fancy car or lives in a nice house doesn't mean they have tons of money. And just because you might not have what someone else does, it does not mean you are any less of a person. Do what's right for you and your family.
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| Posted 6/19/08 8:12 PM |
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leighla
Support Cancer Research
Member since 5/05 16353 total posts
Name:
Lauren
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Re: best financial advice you can give
Know where every penny goes.
Know what goes on your credit cards.
Check your credit score and history regularly.
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| Posted 6/19/08 8:34 PM |
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drpepper318
MIR MIR MIR!
Member since 6/07 8274 total posts
Name:
me
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Re: best financial advice you can give
Posted by smdl
Don't spend money you don't have.
I agree... so true.
Also, sales & coupons help a lot!
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| Posted 6/19/08 8:56 PM |
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babyfaith
Onward and Upward!
Member since 2/08 3210 total posts
Name:
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Re: best financial advice you can give
Cut up all credit cards and only use cash when shopping.
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| Posted 6/19/08 9:12 PM |
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Re: best financial advice you can give
Living way below your means is definitely key.
I also put the rest of our $$$ in savings after our bills our paid, minus a small amount I leave in checking for "luxuries" like my morning breakfast on the way to work.
I also *try* to really stick to a grocery list and I try to purchase a lot of things like cleaning supplies and such at the $99cents/less store!
We also avoid credit cards at all costs.
I am also making do with the car I have now ('03 Ford Focus) that is paid off, instead of running out to buy a new one and having a car payment.
I also try to avoid malls and such so I don't get the urge to spend $$$ on things I really don't need more of, like clothes!!
Keep the great advice coming ladies. I love personal finance/savings tips.
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| Posted 6/20/08 5:50 AM |
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Diana712
RIP my beloved Brother Richard
Member since 5/07 6710 total posts
Name:
Diana
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Re: best financial advice you can give
Dont use credit cards....
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| Posted 6/20/08 7:39 AM |
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Rlivings
LIF Infant
Member since 4/08 79 total posts
Name:
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Re: best financial advice you can give
I'm trying to give up credit cards but it is really tough. Once I get out of the credit card debt , I will only keep one.
Luckily....my husband and I work for the City and have wonderful pensions; annuity; defered comp etc but I am constantly trying to get him to reduce these things so we can live a little better today but he's not having it.
My best advice.....get a rich relative to leave everything to you!!!
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| Posted 6/20/08 2:30 PM |
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