This list is a recollection of all my posts and I have selected the best personal finance tips of all time. I am looking back and analyzing those little things that made an impact in my life financially speaking. I want all of my readers to take a second after reading this list, and just pluck out those things that resonate with your life and your money habits. I am really anxious for the next few months as I am looking to expand on my personal finance capacity by reading more and asking for advice from older wiser individuals with greater experience in this field. What does that have to do with the best personal finance tips I will share with you today?
Well it all comes down to what I know regarding Personal finance, and I can either stop learning or continue to learn. That means staying current with the best money management topics. Which in turn will help me share more with all of you guys in the future. If I learn more, then I can reciprocate that back towards you with great content.
See below for The Best list you will ever come across regarding money management and personal finance:
The Best Personal Finance Tips:
- Start saving 20% of every pay check.
- Avoid Debt like the plaque.
- Always save in your employer’s retirement account. ( Free money)
- Increase savings by 2-5% every year with yearly raises.
- Always separate direct deposit into at least 2 accounts. (General/emergency accounts)
- List of Priorities when money is tight breakdown 1Food 2Lights 3Rent 4everything else.
- Plug the holes in your Budget. ( Track your expenses)
- Always submit taxes on time every year, if you owe pay IRS ASAP.
- Bonus Money and Tax return money. ( Use 70% for debt, if debt free save 50 use 50)
- Fund a replacement account for expensive items. (Cars, Appliances, Etc. )
- Learn about investing and never stop learning. (This will help you handle your finances)
- Negotiate whenever possible. (It does not hurt to attempt to lower the price)
- If you can – live in a lower cost of living city. ( This is one of the best tips.)
- Keep house payment <35%, Transportation costs <15%, less than monthly income.
- Invest in those funds / Stocks that pay dividends. Avoid those that do not pay dividends.
- Find work within 30 minutes or less commuting time.
- Avoid impressing others by buying things that are overpriced and you have not saved for.
- Live in the present but never lose sight of the future. (Money wise)
- Diversify risk by separating investments to 1-Large Cap, 2- Bond, 3- International funds.
- Avoid lifestyle Inflation. Keep expenses low relative to income.
I really enjoyed sharing this list with all of you, I have a feeling that all my readers will get good use out of this list. I know you have heard some of these PF tips before, and it goes to show that if you just care slightly about money you can master these simple easy to implement financial tips in your life.
Follow all these tips and you will have a very good financial future and succeed to properly handle money. In this life money does not have to be so complicated, book mark this page and use it as a reference when you are in doubt or struggling to stay on track with personal finance.
Do you want to add to the Best Personal Finance Tips?
Rich Uncle EL
Great tips.. All of them..
My favorite is 17.. As you need to change your mindset and your addiction about material things in order to truly obtain financial freedom.. It is amazing how many folks are actually owned by the things that they own.
Thanks for the comment, I researched a while and came up with this list. Glad you enjoyed it. Sorry for the delay with a response but I didnt have power for three days.
Oh gosh, this is really what I am looking forward to have at this moment. I am spending and wasting a lot of money buying things beyond my limits, and you totally hit me in No. 17. LOL! Anyway, I should have bookmark this. Thanks a lot!
Well maybe now you can slow down and save some dollars by not spending. Glad you enjoyed the post and thanks for the comment.
I think you meant keep your house payment <35% not >35%.. Same for transportation costs. It should read "<", not ">"
Hey thanks for the quick edit correction, and thanks for stopping by. I hope you will come back soon.
I believe #15 is inaccurate. Consider #15 in the light of these articles:
http://www.cbsnews.com/8301-505123_162-57576075/theres-n...
http://www.bogleheads.org/forum/viewtopic.php?f=10&t...
For what it's worth…
I will look into the articles, but in my opinion getting a return back on any investment whether that may be quarterly or monthly dividends makes me feel more secure and proud that it is paying me back. Just feels like it is growing more when those dividends are then reinvested back to get more shares. Thanks for the comment.