Personal money management tips

[Anonymous]

One of my girlfriends emailed this to me and I am going to pass it on to everyone..



I do not have Obvious Li's experience in business or cc and heinzy's understanding of economics..



What I do know how to do is write a family budget and stick to it.



If you've been keeping track of where your money goes, you may be surprised at how often you buy coffee, gum or a mid-afternoon snack.

 

A spending journal starts to make you aware of where your money is going. (If you haven't started using one yet, all you need is a notebook, a pen and the will to do it.)

 

"Insanity," according to a quote often attributed to Albert Einstein, "is doing the same thing over and over again and expecting different results." Are you tired of being financially insane and ready to make some changes?

 

If you've been unconscious about your money for quite some time, it's probably going to take a bit of time to develop some new habits. Don't get impatient with yourself. Impatience will only distract you from the task at hand. For example, you have to learn to:

 •Distinguish between "needs" and "wants"

•Communicate with your friends and family about your new awakening and the changes you'll be making

•Recognize the effect marketing and advertising has on you, and resolve not to be influenced

•Create a balanced budget and tracking your expenses on a daily or weekly basis

•Recognize the importance of saving — both for emergencies and for the long term

•Do the hard work it will take to come up with a debt-repayment plan and then execute that plan

•See not only today's immediate needs, but plan for things you will need and want in the future

•Lead by example and show your children how to take charge of their money

•Seek help if you feel overwhelmed or lost along the way

[instigator]

i have a rbc infinite avion visa and i buy everything possible on it. after i spend 100k in a year i get free airfare to asia. if i spend 50k i can fly free to south america. all just for spending money.

[Anonymous]

i have a rbc infinite avion visa and i buy everything possible on it. after i spend 100k in a year i get free airfare to asia. if i spend 50k i can fly free to south america. all just for spending money.

We get cash back on our Visa cards too..



My husband collects reward points and miles when he travels for work..



However, if you cannot afford what you are buying in the first place it is foolish to use plastic for rewards.

[Anonymous]

One of my girlfriends emailed this to me and I am going to pass it on to everyone..



I do not have Obvious Li's experience in business or cc and heinzy's understanding of economics..



What I do know how to do is write a family budget and stick to it.



If you've been keeping track of where your money goes, you may be surprised at how often you buy coffee, gum or a mid-afternoon snack.

 

A spending journal starts to make you aware of where your money is going. (If you haven't started using one yet, all you need is a notebook, a pen and the will to do it.)

 

"Insanity," according to a quote often attributed to Albert Einstein, "is doing the same thing over and over again and expecting different results." Are you tired of being financially insane and ready to make some changes?

 

If you've been unconscious about your money for quite some time, it's probably going to take a bit of time to develop some new habits. Don't get impatient with yourself. Impatience will only distract you from the task at hand. For example, you have to learn to:

 •Distinguish between "needs" and "wants"

•Communicate with your friends and family about your new awakening and the changes you'll be making

•Recognize the effect marketing and advertising has on you, and resolve not to be influenced

•Create a balanced budget and tracking your expenses on a daily or weekly basis

•Recognize the importance of saving — both for emergencies and for the long term

•Do the hard work it will take to come up with a debt-repayment plan and then execute that plan

•See not only today's immediate needs, but plan for things you will need and want in the future

•Lead by example and show your children how to take charge of their money

•Seek help if you feel overwhelmed or lost along the way

I just saw Patti Croft advise the exact same thing.

Who is Patti Croft?

[Obvious Li]

those are all good tips fashonjsta....the main thing is to START ASAP doing something....the longer you wait the more difficult it becomes.......get in the habit of putting so much aside every month and never deviate from that.....fill up your kids RESP's, your RRSP's and TFSA's.............even if you do nothing else that would be sufficient if you start in your 20's

[Anonymous]

those are all good tips fashonjsta....the main thing is to START ASAP doing something....the longer you wait the more difficult it becomes.......get in the habit of putting so much aside every month and never deviate from that.....fill up your kids RESP's, your RRSP's and TFSA's.............even if you do nothing else that would be sufficient if you start in your 20's

Thank you Obvious Li, that means a lot to me coming from someone with your knowledge of money management..



We are not wealthy Obvious Li, but we are able to save for our golden years and our children's education..



We have friends that earn more money than us, only have one child or none at all and they are deeply in debt..



Not living within your means and not saving will make you destitute in the future..



If you do not need something, do not jeopardize your future by going into debt to buy it.

[instigator]

no credit card debt here. i pay my balance every month to $0 so i don't get charged interest if you pay within the grace period. my credit card it just a tool for convenience and free vacation airfare

[cc]

Great advice^^

i have a rbc infinite avion visa and i buy everything possible on it. after i spend 100k in a year i get free airfare to asia. if i spend 50k i can fly free to south america. all just for spending money.

I just spit my coffee all over my keyboard laffin @ that



If he could get out of his Mom's basement suite it would be an exciting  day for him.

[Anonymous]

Must instigator poop up every good thread. :x

[instigator]

well when you have business expenses as well as personal it doesn't matter to rbc infinite avion visa.



spending is spending.



and i buy a lot of things to outfit the home. big screen tv's, luxury appliances and finishings.



i spend 100k and get to fly free to Asia.



I spend about 100k a year



what's so hard to understand for you?



i told you i live in a nice house and run a business.



this is natural for succesful han chinese as i live in /lpha asian mankind vancouver.



everything you say about me is not true. you find it hard to believe my viewpoint because your view is distorted due to being a slf dprecating dfeatist aplgist



why do i need to lie? i have nothing to prove except tell the truth. there is no benefit to lying. what benefit am i trying to get from you except get truth through your thick skull.

[cc]

Damn. He caught me again %^&$#%

I just spit my coffee all over my keyboard laffin @ that



If he could get out of his Mom's basement suite it would be an exciting day for him.

[Anonymous]

well when you have business expenses as well as personal it doesn't matter to rbc infinite avion visa.



spending is spending.



and i buy a lot of things to outfit the home. big screen tv's, luxury appliances and finishings.

i spend 100k and get to fly free to Asia.



I spend about 100k a year

what's so hard to understand for you?



i told you i live in a nice house and run a business.



this is natural for succesful han chinese as i live in /lpha asian mankind vancouver.



everything you say about me is not true. you find it hard to believe my viewpoint because your view is distorted due to being a slf dprecating dfeatist aplgist



why do i need to lie? i have nothing to prove except tell the truth. there is no benefit to lying. what benefit am i trying to get from you except get truth through your thick skull.

You must have a warehouse stocked with more TV's and appliances than five Future Shops combined..



We will be purchasing an LED set before the end of 2013...could you give us a good deal?

[instigator]

well when you have business expenses as well as personal it doesn't matter to rbc infinite avion visa.



spending is spending.



and i buy a lot of things to outfit the home. big screen tv's, luxury appliances and finishings.

i spend 100k and get to fly free to Asia.



I spend about 100k a year

what's so hard to understand for you?



i told you i live in a nice house and run a business.



this is natural for succesful han chinese as i live in /lpha asian mankind vancouver.



everything you say about me is not true. you find it hard to believe my viewpoint because your view is distorted due to being a slf dprecating dfeatist aplgist



why do i need to lie? i have nothing to prove except tell the truth. there is no benefit to lying. what benefit am i trying to get from you except get truth through your thick skull.

You must have a warehouse stocked with more TV's and appliances than five Future Shops combined..



We will be purchasing an LED set before the end of 2013...could you give us a good deal?

i just bought the 60" samsung 3D LED SMART TV. with built in apps, netflix, cinemanow, it is upgradeable with the smart evolution kit. i don't have to buy a new tv down the road. new hardware/software can be installed.



http://www.letsgodigital.org/images/artikelen/47/samsung-smart-evolution-kit.jpg">

[instigator]

tv costs 2.5g and why would anyone need thousands of them. i only need 3 or 4

[Anonymous]

tv costs 2.5g and why would anyone need thousands of them. i only need 3 or 4

You buy 40 pretend TV's each year with Monopoly money.