I can collect dog poop and ship it to you free of charge. Since you wrote "anything"...
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RF Financial Advice
- Thread starter Psalm23
- Start date
PoetPhilosopher
Veteran Member
My best advice is...
Be careful of those who say "You need a credit card to build credit."
While there may in some cases be a grain of truth to that (not always though), it's still pretty dangerous advice as it doesn't explain things like that carrying too high of a credit card balance can actually lower your credit score. It also doesn't explain things like interest, compound interest, and responsible spending in general.
I see the above-mentioned quote more as something someone who has justified to themselves the use of a credit card would say, and are now trying to justify it to others. The advice that one should open a card, and keep it low, in some scenarios may not be 100% inaccurate, there may be some scenarios where it's better to have more of a credit history (especially with responsible spending), but overall, it's misleading advice - especially for one just starting out. Any time you encourage someone to "spend" and in a high-interest way, and with an unnuanced piece of advice like "You need a credit card, it will be positive for you"..... it's risky.
I'm also speaking in general. I've seen people on the internet, and outside of it, tell young people to open credit cards. That's what I'm talking about.
Be careful of those who say "You need a credit card to build credit."
While there may in some cases be a grain of truth to that (not always though), it's still pretty dangerous advice as it doesn't explain things like that carrying too high of a credit card balance can actually lower your credit score. It also doesn't explain things like interest, compound interest, and responsible spending in general.
I see the above-mentioned quote more as something someone who has justified to themselves the use of a credit card would say, and are now trying to justify it to others. The advice that one should open a card, and keep it low, in some scenarios may not be 100% inaccurate, there may be some scenarios where it's better to have more of a credit history (especially with responsible spending), but overall, it's misleading advice - especially for one just starting out. Any time you encourage someone to "spend" and in a high-interest way, and with an unnuanced piece of advice like "You need a credit card, it will be positive for you"..... it's risky.
I'm also speaking in general. I've seen people on the internet, and outside of it, tell young people to open credit cards. That's what I'm talking about.
Invest first. Set aside a set amount of your money before you do anything else with it to invest.
Doesn't matter how much you start with, only that you are consistent.
I can collect dog poop and ship it to you free of charge. Since you wrote "anything"...
It's free compost
Wu Wei
ursus senum severiorum and ex-Bisy Backson
I can collect dog poop and ship it to you free of charge. Since you wrote "anything"...
It is kind of like the old Ritz cracker commercial... anything tastes great if it sits on a ritz..... I could always think of several things that most certainly would not taste great on a Ritz.......
Don't buy stuff.
Just in general.
Humans of this age buy too much stuff they don't need and it is having disastrous consequences for our lovely blue-green orb.
Food. Water. Clothing. Shelter. A few odds and ends.
Knowing when to say "enough" instead of constantly chasing the next thing you didn't need to begin with.
Just in general.
Humans of this age buy too much stuff they don't need and it is having disastrous consequences for our lovely blue-green orb.
Food. Water. Clothing. Shelter. A few odds and ends.
Knowing when to say "enough" instead of constantly chasing the next thing you didn't need to begin with.
osgart
Nothing my eye, Something for sure
50-30-20. Absolute necessities- what you want if it's good for you- savings and investments.
Of the 20 for savings and investments have conservative investments at 50. Moderate risk at 30 and aggressive risk at 20 or less.
Live below your means. Consult more than one expert.
Of the 20 for savings and investments have conservative investments at 50. Moderate risk at 30 and aggressive risk at 20 or less.
Live below your means. Consult more than one expert.
I live with one of those...
For every one thing in, two things out.
It doesn't sound like financial advice until the house is so full you can't find what you know you have and end up having to go out and by a new one because the three you already had are hopelessly lost.
Sounds like hording to me.
My father-in-law lived through the depression and would keep stuff around "just in case" but it never got to that point. A friend of my wife was at the point and her place was so full that only paths remained to the fridge, toilet, bed etc.
Yup, its hoarding. I think some is cultural. I manage to keep it under control for the most part, though it gets to be a headache to periodically have to 'reclaim' rooms.
Unfettered
A striving disciple of Jesus Christ
Never go into debt if you can avoid it. Get out of debt as soon as you can.
Spice
StewardshipPeaceIntergityCommunityEquality
And thrift shop and repurpose.
Spice
StewardshipPeaceIntergityCommunityEquality
And without a doubt, all this great advice is just candles-in-the-wind for many.
House share when you can. It takes compromise, but it absolutely works with forethought and commitment. Just be sure to know or vet your house partners well. How about siblings as long as you get your own rooms this time?
Ride-share also works when you have set work hours. You can even ride-share with friends and neighbors to do errands, groceries, laundry, etc.
Hopefully your family and friends are understanding when you have to say "not this time," but if not, it's an opportunity to meet a whole different culture who gets it. Again, just be careful and stay true to yourself.
Edited to say: If it comes down to a house/apt or your car -- dependent on where you live, you may be better off to save the car. I've been homeless twice. With a vehicle was MUCH easier than without.
House share when you can. It takes compromise, but it absolutely works with forethought and commitment. Just be sure to know or vet your house partners well. How about siblings as long as you get your own rooms this time?
Ride-share also works when you have set work hours. You can even ride-share with friends and neighbors to do errands, groceries, laundry, etc.
Hopefully your family and friends are understanding when you have to say "not this time," but if not, it's an opportunity to meet a whole different culture who gets it. Again, just be careful and stay true to yourself.
Edited to say: If it comes down to a house/apt or your car -- dependent on where you live, you may be better off to save the car. I've been homeless twice. With a vehicle was MUCH easier than without.
It's like the 4 troubles of Soviet agriculture....
Spring, summer, fall, winter.
Shadow Wolf
Certified People sTabber & Business Owner
Buy new over used when you can (except with cars).
Learn to fix it yourself.
Leave the plastic at home.
Learn to fix it yourself.
Leave the plastic at home.
Shadow Wolf
Certified People sTabber & Business Owner
I noticed a deal of the advice requires you actually have enough to make ends meet. Talk with experts? Investing? Save? Can't be done when you're car needs a tire and you need the car to get to work. Amd because this is America medical expenses can also destroy any efforts made towards saving or just doing it at all.
