From the media? Friend? From this blog? (hah!) I’ve never really thought about it personally, but I saw a poll asking this in April’s issue of Money Magazine and thought the results were pretty interesting:
Where have you gotten the best financial advice?
- 34% The Media. This scares me for some reason :) It makes sense since we’re constantly bombarded with the latest news and headlines, but man the advice can be all over the place. Especially when you get to the fear mongers or the “latest & greatest stock picks” people. How many of them saw this financial crisis coming?
- 28% A Professional Financial Adviser. This one makes me happy! And I’m actually quite surprised at such a high number too – over a quarter of the people use an adviser? This may have to do with the respondents of the survey, but regardless I’m impressed. Finding an adviser has been on my to-do list going on 3 years now ;)
- 22% A Family Member. Very cool too! This is probably where I’d fall seeing as how most of the financial advice I’ve received over the years came straight from my dad. I think we tend to listen to people we’re closer to more than anyone else (although this can also be bad, too!).
- 16% A Friend. See, at first I would have thought this number would have blown the others out of the water. But then I realized we’re talking about finances here. And the *best* financial advice at that. If this were a poll about peer pressure our friends would have topped the charts! But unfortunately most of the friends I have wouldn’t discuss their financial situations or game plans with me unless I specifically asked (which I’d never really do). Our friends might give us every last juicy detail about their sexual lives, but when it comes to money it seems most of them just shut down. Perhaps they don’t feel it’s appropriate?
How about you all? Do any of you fall into one of these buckets? I’m not sure where blogs fall exactly, but if I had to guess I’d say “media.” And if I were a betting man I’d say that a good percentage of you use the internet to learn more than anywhere else. Am I wrong?
PS: The best advice I’ve ever gotten was to never put anything on a credit card that you can’t pay off. Not the most original, but it’s kept me out of trouble my entire life!
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!