Share Your Best Money Advice Based on Personal Experience

[Darker45]

I can share a couple of them. They are all somewhat related to yours. And I live them all, including your advice, or so I believe.

• Keep a simple life. One doesn't have to show off. One doesn't have to be ostentatious to gain respect or admiration. Wearing the same affordable yet comfortable shirt, pants, shoes in different occasions is not a problem. And it will save you a good deal of money. It doesn't make you less of a human if your wear the same clothes during your friend's wedding and your niece's 1st birthday.
• Live according to your means. In other words, just buy what you can afford. There's no need to borrow money or use your credit card just to get what you want.

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[Frankolala]

For the longest time, I have been thinking about doing this. It seems like the right time is now. All of us have had good, bad, and ugly experiences with money. So now is a good time to offer your two cents worth of financial advice.

Ty question-  Based on your cumulative life experiences, can you share your best money advice with us?

I'd go first -  Stay out of debt as much as you can.

My first advice is don't see life as  competition by not looking at anyone to live your life, in terms of what A has, B wants to also have it,this will make you not contented with what you have and will make you spend more than your income and will lead you into debt.

Secondly, don't stand as a surety for anyone who wants to get a loan from anyone or a bank because,down here in my country if the person that collected the loan can not meet up to the date of paying back,or they don't want to pay back,they will run away and you will be arrested until you accept to pay up the debt. This is the worst of all,I almost became a victim but thank God for my wife and my mom who was adviced me, told me about how the outcome will look like. This my friend saw that I didn't fall for it,he travelled and I have not seen him till today.

[michellee]

My financial advice is to set aside some money and not use it unless you are pressed for it. That means you have to save some money to prepare for your future or if you have urgent needs so that it doesn't interfere with your daily expenses.

Never go into debt if you feel you can't or have difficulty paying off that debt. Live simply and don't try to overspend even if you can afford to.

[Asiska02]

You just can't seem to get over it the way you want to, with numerous individuals offering valid advice that will benefit you in the financial sphere of your life. Someone once said that if you earn your money via hard work and sweat, you'll learn to spend it wisely better than if you were given it as a gift and never worked for it. But it happened to me, and it was the opposite of what I was told.

In general, how you manage your money and your mindset toward spending rather than multiplying or investing it will decide how long it will survive in your hands. I've heard so many pieces of financial advice that I can't remember them all, and they're all good, you just go for the one that works best for you. One of them I admire is not to collect debt in order to get away from another debt.

[Fortify]

For the longest time, I have been thinking about doing this. It seems like the right time is now. All of us have had good, bad, and ugly experiences with money. So now is a good time to offer your two cents worth of financial advice.

Ty question-  Based on your cumulative life experiences, can you share your best money advice with us?

I'd go first -  Stay out of debt as much as you can.

One piece of advice is - start buying stocks for the long term dividend income instead of short term day trading. There is so much to learn in the area of business and analyzing how they run that you will never run out of new thoughts. You might start by finding the earliest Berkshire Hathaway shareholder meetings hosted on youtube and just listen along to them describing how their business works, along with how it developed over time year by year. If you truly want to be free and independent you need to learn how to get your money making more money over time, owning shares in companies is the way all the richest people in the world sustain their wealth and get richer every single day.

[Hispo]

If I had to give some advice about money it would be never to let others know exactly how much money you make or how much money you have, not matter it is much or almost nothing. I have learnt that keeping that information private is rather an advantage and helps to avoid unpleasant situations.

I can also advice the get a bit out one's way to find better alternatives to withdraw from exchanges at minimum price, for example: Withdrawing BTC from Binance can cost over 10$, but withdrawing Monero is only 2 cents, so I go through a bridge from Monero to Bitcoin which costs about 1$, in the end I save 90% of the fee (9$).

[BigBos]

For the longest time, I have been thinking about doing this. It seems like the right time is now. All of us have had good, bad, and ugly experiences with money. So now is a good time to offer your two cents worth of financial advice.

Ty question-  Based on your cumulative life experiences, can you share your best money advice with us?

I'd go first -  Stay out of debt as much as you can.

Talking about finances is usually directly related to the needs of living everyday life from getting up early and getting up early again. Identifying needs is very important for managing finances well so you can manage expenses well. Therefore we have categories of primary, secondary and tertiary needs which are physical and spiritual.
Dividing your money into several categories such as basic needs, investments, cash funds and emergency funds is highly recommended for those of you who want to have healthy finances.


Why do so many people hate debt? I think this is done by people who use their money for consumption or subsistence, so they are forced to pay off debts without producing anything.
Let's say you are an entrepreneur, when you have a very significant increase in demand, productivity must be increased because to meet customer demand, and you will find it difficult to increase production if you only rely on income from the money you rotate. Of course, you have to borrow to increase your capital and expand your business so that you can meet market needs and have a bigger cash flow.

Debt will be negative for consumptive people and debt will be positive for productive people because productive people will use it to attract other money.

[stomachgrowls]

For the longest time, I have been thinking about doing this. It seems like the right time is now. All of us have had good, bad, and ugly experiences with money. So now is a good time to offer your two cents worth of financial advice.

Ty question-  Based on your cumulative life experiences, can you share your best money advice with us?

I'd go first -  Stay out of debt as much as you can.

One of the most important thing in life on which you should really consider out or trying out your best to be not shackled by debt because it would really be not a good way of living or something that could put you in peace since you do know that you do have lots of things which you do need for it to be paid up.

I do have that bitter experience which I'm trying out to solve but due to some other priorities that I could hardly clear it up.

The best thing for me into now is never make yourself tolerate on making up bad decisions and don't make yourself rush up whenever you do see some possible income making or money making opportunities.Dont make yourself that impulsive or else you do know on what would happen.

[SatoPrincess]

First I think it’s important to know how to identify liabilities and assets. It’s best to spend money on essentials and assets, reduce excessive spending on clothes, outings and trivial things to impress people. If you’re a salary earner, I’d spilt my salary into three parts, the bigger chunk would go into savings about 70% after taxes,  expenses 20% and 10% for emergencies. The 70% will be spilt into reasonable investments to make some profits.

[Fivestar4everMVP]

I'd go first -  Stay out of debt as much as you can.

You are right, I would say that staying out of debt is among the most important money advices I know of.
Another important advice is "spend less than you earn", and also, do not keep your money lying idle in the bank, most especially fiat currency which have been proven to keep loosing their value/purchasing power over time..
And also, it is very important to invest consciously and wisely, minimize risk at all cost.
This is not all it takes to be financially successful but I believe it is part of the ways to truly make the journey successful.

[KingsDen]

For the longest time, I have been thinking about doing this. It seems like the right time is now. All of us have had good, bad, and ugly experiences with money. So now is a good time to offer your two cents worth of financial advice.

Ty question-  Based on your cumulative life experiences, can you share your best money advice with us?

I'd go first -  Stay out of debt as much as you can.

Do not invest in anything you don't have idea on how it works or something you cannot control. That is my worse financial mistake. Even when you use bitcoin as an example you will understand how newbies buy at buy market and panic to sell in Bear market. It is because they don't understand how the cryptocurrency market works.
Part of the money you want to invest, remove some percentage and give to someone to teach you about the investment. If it is a business you need to know the secrete of the business and have the skill of how it is run even if you will not handle it yourself.

[gantez]

Investment is not suppose to be what you put your all in. Reserve some incase if you lose what you invested you can come back with your reserve and that give experience to you. You don't need to invest without the necessary research and not to rely onto what your friend say to you to invest because of the profit but to invest in what you are comfortable with and have your passion for.

[darkangel11]

I know so many, some very simple, some more complicated.

The most obvious money advice is never do with others what you can do yourself. Don't share a business with associates if you can run it yourself.

Some other nice ones are:
Get bitcoin. If you can only invest 1% so be it. Make sure you have some bitcoin before you move forward and hold it.
Don't play with other people's money. Invest what's yours. Loans are also other's people's money. Borrowed money don't belong to you. Don't get into debt, buy what you can afford on your own.

Also, don't trust others with your money. Keep your hands clean and other people's hands out of your pockets.

[coupable]

The two most important rules for investment is that you do not risk investing more than you can lose and that you have an investment budget that you can control. This is in addition to some other tips through which you can support your investment position and raise the insurance on your investments. Let's take as an example some of them:
Investing in quality companies for the long term.
Don't give in to quick reactions.
Divide your money in the short term and the long term.
This and the investment process remains completely unsafe and carries a part of the risk that we seek through these steps to reduce as much as possible.

[blockman]

Live within your means, live frugally and that's it. Everything will start with that and you'll be responsible to think whether the things you want to buy are worth it or not.
Whenever you're living that way, you can afford the needs you need and you won't go more than the amount that you're earning. I guess everyone's good advice about money is going to be the best advice that we've got if apply it in our lives. Because we tell good advice yet we don't apply it to our lives and that means nothing.

[philipma1957]

I can not give advice for third world nations as I live in a first world nation.

1)Find a sex partner to live with.
Whether you are straight or gay living with a person lowers expenses.

2) Find out the sex your partner likes and if it is not oral sex leave that partner and find a new partner.
This is more for straights than gays since fucking makes kids and kids cost money in any civilized first world nation.

3) so now you are with a partner that likes  oral sex most. Practice practice practice practice.
Really cheap to do. Takes lots of time if you practice practice practice.

Now all of the above may seem like I am kidding ,but if you take it to heart 💜.

It lowers your blood pressure and saves you money.
Compare it to smoking a cigarette. In USA New York a pack of smokes is 10 bucks.

So if you and your lover smoke three packs a day that is 10000 usd a year.

Next buy a water filter. A tabletop reverse osmosis water filter is around 400 and filters cost 100

So 500 then 100 then 100 is 700 for 3 years. 233 a year. under 80 cents a day for pure water.

not the filth that comes from the tap. this alone is very good for health.

next is eat well. learn to cook 5 real meals that are as good as a restaurant.

I can do great omlets.
I can do great brisket.
I can do really good tomato sauce.
I make great roasted chicken.
I make great roasted turkey.
Also make both the chicken and the turkey into soup.
I make nice lamb roasts.
great shredded pork.
dead solid almond crust pizza for low carb treat.
All of the above is made in healthy manner. All of the above is better than most restaurant food for taste.

it all saves money.

Bang out credit card like a mother fucker. but only when they offer a deal.
I have spent a million dollars on credit cards since 1986.
I have spent about 30 in interest on them since 1986.
I have earned over 2 percent on that million in points.
about 20000 dollars.

[tabas]

Due to the inflation, if you're still able and can do side hustles do it. And don't keep most of your money in the bank because it will lessen the purchase value over the years. As much as you can, find an investment or asset that you understand and keep your wealth there so that your money will work for you. It may seem simple but it's going to require you a lot of sacrifice and delayed gratification before you attain the benefits of it as we you grow older.

[JoyMarsha]

One piece of financial advice I've been given thus far is to not spend more than you make.
Keep in mind to save money when you achieve your life goals.
Never indulge in extravagant spending. However, if you run a profitable firm.

Nothing in life is constant. If not used properly, wealth can go in the blink of an eye. Spend less and put money away for the future by making the correct bitcoin investments.

[qwertyup23]

For the longest time, I have been thinking about doing this. It seems like the right time is now. All of us have had good, bad, and ugly experiences with money. So now is a good time to offer your two cents worth of financial advice.

Ty question-  Based on your cumulative life experiences, can you share your best money advice with us?

I'd go first -  Stay out of debt as much as you can.

You know what is the only thing consistent in this world? TIME- better invest while you still have the time in this world. The moment you start investing your money, it accumulates profit overtime and as you mature your money also increases. By the time you reach the age of retirement, all of your investments would reap and you would be able to enjoy your retirement without any financial difficulties on you.

That is why, maximize your investments and profit while you still have the time. Diversify and maximize every opportunity in order to get the most out of everything.

[MoonOfLife]

My financial advice is to set aside some money and not use it unless you are pressed for it. That means you have to save some money to prepare for your future or if you have urgent needs so that it doesn't interfere with your daily expenses.

Never go into debt if you feel you can't or have difficulty paying off that debt. Live simply and don't try to overspend even if you can afford to.

No one wants to be in debt, that's for sure, but sometimes life gets too hard and there's no way to deal with it, and many people have to take out a loan. I myself have had the experience of borrowing and having difficulty repaying the loan but that's life, it's not perfect as we expect. My advice is similar, limit borrowing to a minimum because it will make you more stuck, more pressured.