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Post Info TOPIC: Free Money Management Advice
RobySul


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Free Money Management Advice
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No one talks about this stuff. I'll give it a shot, it's kinda my world.

Now, first, this is worth about what you're paying for it. I'm not an advisor in any way, and not looking to be anyone's.
Second, I'm a random internet troll, without a degree, so keep that in context -- :mrgreen:

With that, here a few words, food for discussion, that might be helpful for young or not so young pilots, that might be helpful during this time of plenty.

If no use to you, just ignore, and good for you for having it figured out. Really.

1. I suggest banking a lot of that dough you're hauling in. Don't buy the 80 K pickup, don't go nuts on a boat, bank it.

Pay down the mortgage, credit cards, whatever. Prepare for the lean times ahead -- which aren't THAT far ahead as you might think today -- if I'm reading things even halfway right. I might be wrong. But even so, the path to financial security is built on the back if eliminating unproductive consumer debt.

2. Buy used.

I love to buy used cars -- 3 years old, barely broken in, that some other dope has turned back in off a lease return. I've done it several times. Half price. Pay cash if you can. Debt is the enemy. Boats, whatever too. Used, used used. Nothing depreciates faster than a boat, from what I'm told.

3. Work like an absolute dog now, and rack up the OT. You make hay when the sun shines. Bank the money. It won't always be like this. Don't invest it until you learn how. Note: Your friendly financial advisor, almost certainly doesn't know how. Trust me on this.

4. Focus on building equity, at the right price, not accumulating consumer things.

Learn some principles of the great investors, read what they write, become a student for your retirement and financial future. Your financial advisor is a salesperson. Doesn't likely have a clue, and cares about as much as I do what happens to you. Likely.

The only one who really cares enough, will be you. So some personal study is required, in my view. Maybe you are one of the few with a great advisor -- you can do nothing but good, still, by educating yourself. Yes, it is possible.
There are many styles. I personally look at what is least popular, and take a good look to see if that creates value.

5. Freedom from debt means personal freedom, and the ability to make quality life choices. Make this a goal.



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urongamon


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I'd add to spend time reading about financial management. Nothing beats self managed low cost ETF investing.

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laotiosub


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I think that such consultations are necessary for people who don't know about it and for people who do know to refresh their memory or learn something new. Especially if people want to take a loan from Hurtig Udbetaling they should know the best percentage to take and how best to pay when I took a loan from this company. I was glad that there were many different loan options, and I could take the best one for me. I know many people who have taken out loans with other companies, and many of them cheated on them with their loan percentages. I don't think this is legal, so I only take loans from a trusted company.



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PiercedenNiston


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If you want to take a loan, you should consult a financial advisor first. There are many companies on the internet where you can find someone to help you. I borrowed my new house some months ago from Mortgage Broker Basingstoke. They have worked in this business for more than ten years and could offer you a loan at a reasonable rate. Visit their website for more information. I am sure you won't be disappointed about it. Also, they could offer you a discount if you manage to pay for everything in time.



-- Edited by PiercedenNiston on Tuesday 6th of September 2022 03:05:36 PM

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RemiMartyn


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Hello. Please don't hesitate to read the following avax price prediction. You will definitely like it



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OasisBEE


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Thanks for sharing your tips and advice on money management. It's always helpful to hear from someone with experience, even if they're just a "random internet troll" like you said, haha.
I totally agree with your suggestion to bank a lot of that money and prepare for lean times ahead. It's important to prioritize financial security and avoid accumulating unproductive consumer debt.
For those who are looking for a tool to help them manage their bills and budget, I recommend checking out Money Patrol. It's the best app to manage bills and keep track of your finances. It offers features like bill reminders, budget tracking, and personalized financial insights to help you make informed decisions about your money.



-- Edited by OasisBEE on Thursday 4th of May 2023 11:55:22 AM

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