What's your single best financial tip? - Page 4
Page 4 of 11 FirstFirst ... 23456 ... LastLast
Results 31 to 40 of 110

Thread: What's your single best financial tip?

  1. #31
    Senior Member indexxx's Avatar
    Join Date
    Oct 2011
    Location
    vancouver
    Posts
    723
    Stop drinking. (and this is coming from a bartender!)

    "What good is money if you can't inspire terror in your fellow man?"- C.M. Burns

  2. #32
    Senior Member kcowan's Avatar
    Join Date
    Jul 2010
    Location
    Pacific latitude 20/49
    Posts
    3,854
    Build youself a Life Plan. This includes a financial plan and budget but also measurable goals in every aspect of your life.

  3. #33
    Senior Member
    Join Date
    Feb 2010
    Posts
    2,434
    The path to financial sucess starts with earning some kind of income. (most likely a job or start a business)
    SO my tip would be to first invest in education that will get you a good job, (above 40-50K) or invest the time to start a business or learn skills for self employment.

  4. #34
    Senior Member
    Join Date
    Jul 2010
    Location
    Greater Vancouver area of British Columbia
    Posts
    867
    I've been talking with my three eldest granddaughters recently about money (they're in their early 20s) and I told them that one of most important things they can do is to use credit cards responsibly; it's fine to use them for convenience but pay them off at the end of the month. Pretty basic advice, I know, but many young people get themselves into serious problems over misuse of credit cards.

  5. #35
    Senior Member
    Join Date
    Jun 2009
    Posts
    2,605
    Quote Originally Posted by P_I View Post
    Live within your means.
    I will second that. Otherwise I wouldn't have extra $ left over to invest.

  6. #36
    Senior Member
    Join Date
    May 2011
    Location
    The Pas Mb
    Posts
    267
    Just observing but the majority of our friends are on #2......relationships and all of them are a bit behind the 8 ball financially.
    We've been married since 1980 and in one aspect this has helped our finances along with all the other bonuses to that stability.
    So won't hurt to buy some flowers today!

  7. #37
    Senior Member
    Join Date
    Jun 2012
    Posts
    821
    Love these tips, excellent thread

    The only moral thing I can think of to do financialy is to do that which promotes the most long term happiness. The best way I know how to do this is to come in contact or possesion of that which I value i.e., I value life so to come in contact with, I would never spend money on cigarettes but instead spend money on healthy food @ a grocery store. I also value the lifes energy needed to obtain money so I have money work for me.

    Avrex I think your really on to something regarding mutual funds & I wonder if the average investor has a true understanding of your wise words. (thanks for letting me back)

    Regarding the mutual funds. I remember reading a few years ago (I think it was Robert Prechter) that the best performing mutual fund for the last 10 years the average investor lost money. I forget how much it gained but I if memory is correct I think it was in the double digits per a year. Reason being the average investor was buying high & selling low.
    Ask any investor if they would have wanted to be the average investor in the best performing mutual fund. What do you think the answer would be ?

  8. #38
    Senior Member Echo's Avatar
    Join Date
    Apr 2011
    Location
    Lethbridge, AB
    Posts
    409
    My best financial tip is along the same lines as Jungle's tip - Make more money

    http://www.boomerandecho.com/make-mo...financial-tip/

    After the recession hit, my employer froze wages for three years. Unless you can get a decent raise from a promotion or a career change, it's hard for the average Canadian to get ahead without having some type of second income stream. That could mean renting out your basement, getting a second job, or starting your own business on the side. There are a million examples of how to make more money. Cutting your expenses can only go so far. The path to financial freedom becomes much easier when you can find ways to increase your income.
    Boomer & Echo - Financial Freedom At Any Age
    Follow Me on Twitter

  9. #39
    Senior Member
    Join Date
    Jan 2010
    Posts
    1,165
    Make more money. That's very useful, along the lines of Buy low,sell high; plant your corn early; be careful, etc. Well meaning, obviously true, but not very helpful, typical of conventional wisdom I guess.
    Last edited by Square Root; 2012-11-18 at 11:57 AM.

  10. #40
    Senior Member Echo's Avatar
    Join Date
    Apr 2011
    Location
    Lethbridge, AB
    Posts
    409
    @SR - about as useful as your reply? Read the post, there's quite a few examples listed in there.

    Boomer & Echo - Financial Freedom At Any Age
    Follow Me on Twitter

Page 4 of 11 FirstFirst ... 23456 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •