Techniques to be financially well

[Nolandanicerguy]

It isnt always simple.
o If you can, always start early.

o Create and track financial records using an excel or
database computer program. Always have a backup file.

o Get a bank account, and have 15% of your earnings from
your job go directly towards the account.

o Be environmentally safe. It is economically safe too.

o Use coupons with sales to get great savings.

o Garage sales. Ebay. Get rid of the stuff you dont need.

o Dont buy stuff you dont need after you sell, becuase
when and if you sell it again, the value probably has
dropped quite a bit. Remember to click Try Searching for
(insert orignal search quota here). Ebay automatically
corrects your search quota.

When you buy something online, here is a very VERY helpful tip: search for mispelled items. Also try just company names without the name of the product
Try out:
searching for XEROX instead of printer
searching for Nentendo Wii instead of Nintendo Wii
searching for Chaires instead of Chairs

[anachronistic]

I have a few (that I learned from my mom and other people)

Be very careful with credit cards.

Don't play the lottery

Save your money instead of gambling every weekend.

Don't invest in expensive habits, like smoking.

Avoid quarter machines when you have little children

Kill your food (fishing, hunting, etc.)

Don't buy ridiculously overpriced clothing.

[Nolandanicerguy]

Here are a few more, even:

o Organize your life
o Care not about the "latest technolagy", becuase it isnt late of yet-its probably new technology. Wait till it is actually the latest technology before you buy it.
o Get a good job
o Go to college
o never do drugs
o be nice to people, you might get rewarded
o dont smoke, if you havent started, cigeretts are expensive and useless. If you have started, get help
o take care of your belongings
o get a hobby instead of watching tv. You might get good enough so that you can challenge someone on streets if its a board game (challenge this expert for ten bucks), or so that you can sell it if its a creative work.
o if you take care of your credit card, you save by using it instead of cash. Dont max it out.

[Illusional]

shit, all of you live like a bunch of monks... what good is saving your money if you can't spend it?

raverboy

[vashti]

Silly illusional... you are supposed to SAVE money so the women in your life can spend it.

[jez625]

You save money by not spending it on unnecessary things. I know that you want to live and life is expensive. But I believe you can have intense and beautiful experiences without going broke.

I think that a lot of people are taking a step back and regarding the wasteful consumerism of our time as wrong track. The question is not whether you want to live like a monk but rather whether you want to live like glutton.

[Lipp]

1. Buy and cook your own food instead of eating out on a regular basis(this applies to students).

2. Check out factory outlets for clothing/shoes. That's what I do nowadays, and to be honest I find a pretty small difference in quality and a major difference in pricing. Unless you do it for the experience of feeling cool to browse the trendy shops and then feel down because you emptied your wallet

3. Stop wasting money on snacks and soda.

[clearskies]

Lipp, that is a great advice to eat indoors so we would stick to healthy fat-free foods rather than burgers.
Before I used to follow what Illusional said, I make money to spend it but when I was in real trouble after divorce and paying off all what I had, now i seriously started to think of saving.

[zoso]

My Dad hammered this into my head, and he's proof that this is good advice, as he'll be retiring soon with a sweet chunk of cash to his name:

1.) Start saving for your retirement early (like put some money away each year when you're in your early 20's.) Don't start when you're 35, and don't even think about waiting till your late 40's. The earlier, the better.

[boobaa]

Don't go drinking every night.

Also:
Buy cheap, sell expensive!



Also examples:

Work! Also, find a hobby that also brings some money in for example. And all that is mentioned before.

I always buy cheaper clothes or get them almost free directly from factory, some even sewed specially with my measurements. You have no idea how cheap clothing actually is and that workers get nothing out of it.
I always make my own food.

[Gribble]

How to be Financially "Well"

Spend less than you earn.

Class dismissed.

[clearskies]

Avoid the big disaster: CARDS!, Credit cards Virgin, Barclaycard, Egg, ....etc. This leads to a serious financial break down sooner or later.
Also do not run after discounts, foolishly one will be dragged to buy things he/she is not in need of , just for the sake of using this or that discount coupon.

[clearskies]

Could we link the status of being financially well with the number of hours you sleep per day? For example, to be well off, you need to work a number of jobs besides your main job. You might work at home till next day. You might be involved in three or four jobs at the same time.
The bad thing about that (as a single mum) is that:
- I have no time for myself or my kid
- Health will be much affected and you will have to be paying some of what you have earned to doctors, tests and medications.
- SO How to compromise between all these?
- What is the point you will stop at and say that is enough for me, I got a pretty good amount of money that is enough for this X coming years?

[Lipp]

Could we link the status of being financially well with the number of hours you sleep per day? For example, to be well off, you need to work a number of jobs besides your main job. You might work at home till next day. You might be involved in three or four jobs at the same time.
The bad thing about that (as a single mum) is that:
- I have no time for myself or my kid
- Health will be much affected and you will have to be paying some of what you have earned to doctors, tests and medications.
- SO How to compromise between all these?
- What is the point you will stop at and say that is enough for me, I got a pretty good amount of money that is enough for this X coming years?

Saving up money so that you can live work-free for a number of years is not an approach that I would agree to. In that case it'd be far less detrimental to cut down to just having a single main job to focus on, which should compensate the other parts pretty well (sufficient sleeping hours, with daycare/school you still oughta be able to spend your off-work hours with your children).

[clearskies]

I also agree on a one full time job that can do me fine while having a good balance at the bank.