Comments on: Where have you gotten the best financial advice?

By: J. Money

J. Money — Mon, 28 Jun 2010 21:22:29 +0000

He is a PIMP.

By: Micah

Micah — Mon, 28 Jun 2010 21:13:17 +0000

I love Dave Ramsey!!!

By: Festival of Frugality #226 – Earth Week 2010 Edition @ Beating Broke

Festival of Frugality #226 – Earth Week 2010 Edition @ Beating Broke — Tue, 20 Apr 2010 14:04:06 +0000

[...] Budgets are Sexy asks Where have you gotten the best financial advice. [...]

By: J. Money

J. Money — Thu, 15 Apr 2010 15:51:24 +0000

haha…yeah, but it’s only condescending to those people who pay attention! you’d be amazed at those who’ve just never stopped to think about some of this stuff… it takes all kinds to power this world, baby ;)

By: doctor S

doctor S — Wed, 14 Apr 2010 02:41:56 +0000

Working for a financial services company, I have a ton of access to pages of information. However, most of my advice is received indirectly from the media. Many of these mainstream providers (Yahoo!, Cnn Money, WSJ) are all captain of the freaking obvious sometimes. For example, titles of articles are along lines of “Save more money by eating out less”. That sort of stuff is almost condescending when you read it.

The best method for financial advice is filtering everything you read, regardless of the source, and only applying the bits and pieces that pertain to you. Because, in reality, the best financial adviser you could have ever have/want/need is yourself.

By: J. Money

J. Money — Tue, 13 Apr 2010 14:48:46 +0000

@C Hoss – I try to learn by my friends’ and family’s examples, but usually I just have to go through it myself in order to truly learn. And that’s usually more along the lines of the stupid stuff ;) I learn a lot of lessons the hard way.
@Meghan – Woohoo! And you’re a part of this lovely family on the internets!
@Mysti – There are a lot of idiots out there unfortunately, but it’s smart to realize it and then move on exactly like you did :) Well done.
@Christian – You didn’t have a Rorth IRA? Or 403(b)? What are you INSANE?!!! ;) I like your friend. Too bad I don’t live closer as I really need workout partners too…haven’t gone in 3 years because I can’t get motivated by myself.
@Natalie – You’ve got a great connection :) I’d be picking his brain and learning as much as I can from that guy.
@lenciB – That’s cool your dad runs his own business! Sometimes I wish someone in my family did because it adds such a different element to the idea of “working” and what you want out of your career. Perhaps I’ll be the first?
@Beckey & Jeff – Breaaaaaak It!!!!! “You can do it!” (in the voice from that Adam Sandler movie)
@Stella – Dads are great for that sort of stuff :)
@Investing Newbie – You got that right.
@Young Mogul – I tried to watch the Suze Orman show one night…pretty good stuff, but after a while I started getting frustrated at all the mistakes people were calling in about. Started getting me sad! haha..
@Brandi Abel – What if Dave Ramsey was your dad? ;)
@WR – EXCELLENT books indeed. You should actually turn this comment of yours into a blog post :) It’s a great snapshot!
@StackingCash – Woahhh…now that’s crazy talk! ;) Good for you in changing up your game plan though to fit what makes you more comfortable. Can’t say I’d have the balls to do that myself, freakin’ love the stock market.

By: StackingCash

StackingCash — Tue, 13 Apr 2010 03:46:34 +0000

My best financial advice came from personal experience. After losing money in mutual funds and dot com stocks, I figured it be best to get out of the market. That saved me from the most recent crash. I still think the stock market is a Ponzi scheme :)

By: WR

WR — Tue, 13 Apr 2010 00:54:55 +0000

I am somewhat surprised by the results as well. I also believe that any advice that is actually taken and followed through on will usually be predicated by some personal financial disaster. It was in my case and at least anecdotally, many persons from somewhat humble beginnings who have done well financially were driven to it through financial hard knocks. There is no greater motivator to learn this stuff than suffering a financial blow and determining to learn from it and prevail.

Being a lover of books to begin with, I naturally chose them as my medium to learn everything I could about money and finance.

“The Richest Man in Babylon” and “The Only Investment Guide you’ll Ever Need” Have had the most impact on my overall philosophy of money.

Burton Malkiel’s “A Random Walk Down Wall St”, “Random Walk Guide to Investing” and more recently “The Elements of Investing” have been the best practical guides I have found.

I also like Sanford Botkin’s Tax Strategies books.

Some of the ‘other’ media that has had a big impact on my finances are kind of a hodge podge of different things. I have been a subscriber to Consumer reports for a long time and since buying reliable used cars can have a huge impact on a persons wealth building potential (especially early on) Their Used Car Buying Guide is essential.

Finally, Craigslist, Ebay and your local classifieds/estate sales can help you avoid the “NEW” tax and funnel more money into your wealth machine.

Being Frugal, Investing for the long haul and minimizing my taxes form a good part of my financial philosophy and all of the great ideas I act on come from books.

-WR

By: Brandi Abel

Brandi Abel — Mon, 12 Apr 2010 20:02:36 +0000

I would have to say my dad engrained in me a very very basic hatred for spending money :)

Second to only that would be Dave Ramsey and his amazing Financial Peace University!!

Thank you DAVE!!

By: Young Mogul

Young Mogul — Mon, 12 Apr 2010 19:40:58 +0000

I would say I get about 85% my financial advice from personal finance books and magazines. Another 10% from the media and finance shows such as Suze Orman, etc. The last 5% I would estimate is from friends. I have not consulted a financial advisor because I am not at that status yet.