Anonymous
Post 07/23/2014 14:40     Subject: Give me your best monetary advice
Don't try to "keep up." The statistics on savings rates and debt of the majority of Americans are really abysmal. In other words, a lot of people you see that seem to have a lot of fancy stuff probably have a lot of debt and no savings. Do not try to keep up with them because they are not being financially responsible. They will never tell you that but it is true.
Anonymous
Post 07/23/2014 14:39     Subject: Give me your best monetary advice
Max out your 401K and talk with a financial advisor who can put together a plan specific to your goals. Avoid credit card debt and keep an eye on your credit score.
Anonymous
Post 07/23/2014 14:39     Subject: Re:Give me your best monetary advice
Live well below your means!
Anonymous
Post 07/23/2014 14:34     Subject: Give me your best monetary advice
Marry rich
Anonymous
Post 07/23/2014 14:12     Subject: Re:Give me your best monetary advice
Live below your means. Invest the rest. Retire early.
Anonymous
Post 07/23/2014 13:47     Subject: Give me your best monetary advice
Buy experiences not stuff. Experiences make your soul smile, stuff leaves your soul empty and wanting to buy more stuff.
Anonymous
Post 07/23/2014 13:42     Subject: Give me your best monetary advice
Contribute at least 15% to a Roth or 401(k).
Anonymous
Post 07/23/2014 13:42     Subject: Give me your best monetary advice
Anonymous wrote:I am a younger professional (just starting to make somewhat decent money)

I am interested, since I assume the general dcum population is over 30, what are you best budget/money saving tips?

I am finally in the position to stop living pay check to pay check. So tell me... How do did you build up a savings? Pay off your car? Saved extra money in other ways?

Please share with me your infinite wisdom.


Buy what you need, and wait for what you want. At 30, I was just breaking into positive net worth territory. Read the Money and Finances forum here on DCUM for much more detailed and great advice. Good for you!
Anonymous
Post 07/23/2014 13:42     Subject: Give me your best monetary advice
Pay yourself first. 10% straight off the top goes to savings. Set up a direct deposit with ING or something. Start at 5% if you have to then work your way up as you get used to it.

Anonymous
Post 07/23/2014 13:41     Subject: Give me your best monetary advice
Anonymous wrote:One tip each?

No credit card debt.


Yep, pay your card off each month.
Anonymous
Post 07/23/2014 13:39     Subject: Re:Give me your best monetary advice
1. Have the money before you spend it (reasonable mortgage is the exception; maybe first car--but no other debt ever!)
2. Max out retirement.
3. Try to be a good person.
Anonymous
Post 07/23/2014 13:36     Subject: Give me your best monetary advice
If you want to double your money, fold it and out it back in your pocket
Anonymous
Post 07/23/2014 11:46     Subject: Give me your best monetary advice
One tip each?

No credit card debt.
Anonymous
Post 07/23/2014 11:46     Subject: Give me your best monetary advice
It is not what you make but what you keep.

Pay yourself first, take 10% out that is automatically deposited into an account you do not have easy access to, then when you get used to not having that 10% you add anoother 5-10% to it.

Max out IRA(s)
buy used cars
and buy the worst home in the best area.
good luck
Anonymous
Post 07/23/2014 11:44     Subject: Give me your best monetary advice
I am a younger professional (just starting to make somewhat decent money)

I am interested, since I assume the general dcum population is over 30, what are you best budget/money saving tips?

I am finally in the position to stop living pay check to pay check. So tell me... How do did you build up a savings? Pay off your car? Saved extra money in other ways?

Please share with me your infinite wisdom.