Topic: Share Your Best Money Advice Based on Personal Experience - page 5. (Read 911 times)

This is what I'm currently doing, utilizing my two-wheeled vehicle to do a side job delivering food orders ordered through the application that I do after work. And I was just waiting at home when there was an order notification I immediately rushed.
and I will use the results for my daily needs, because I have used my salary to invest and also save regularly every month.
I use 40% of my Hajj proceeds for investment, 20% for savings, and 20% to pay for electricity and so on, and the rest for storage and for daily needs and also fuel, and another 20% for my parents.
because previously I had a side job that I mentioned above, even though I had managed my money as well as possible there must have been a drawback, even though in my opinion that was more than enough, and there's nothing wrong with filling my spare time with a side job.
And what do I do so that I don't get involved with loans and also don't interfere with my investment, and I only use my savings when there is an urgent need and also don't interfere with my investment.

We have to open up opportunities for other jobs from free time without disturbing the main work, during the technological era we can get other alternative income from crypto investments or study publishers for adsense income or other jobs according to your talent, so one important thing financial advice is to avoid loans and strive for alternative income to be allocated for future savings.

Someone mentioned on here that the best way to stay out of debt is to not be in debt. I think it was the op though.. back to my point. In the world were we find ourselves, inflation being the ruler as it were, most peeps would want to live up to a certain lifestyle which their salaries and earnings can't permit and as such end being in debt.
 But all these can be avoided if only one is a bit content and cut expenses as much as he can afford.

 What helps me save is I view myself as broke and unable to afford things I see that could warrant I spend unnecessarily since I've got a target to reach and so far that has helped.

I agree with you because by going into debt, our burden will be greater in paying the money back. And yes, before we borrow money, we must first calculate the amount of money so it won't be a burden for us to pay it back. But sometimes, people borrow more than they can afford, which gets them in trouble. But strangely, they can always pay their debts even with difficulty. We should not follow what that person is doing because our lives will be different from theirs.

I would give the following financial advice - focus on your financial flows.  

People excel in the activities they focus on.

Developing your professional skills and abilities is very important. Equally important, however, is financial order.

You need to keep a daily record of your income and expenses, as well as receive additional education in the field of personal finance management.  Many people ignore these rules.  Wages are not the only source of income.  

The more different types of income (including investment income) a person has, the more stable his financial position.

No single one is the best, and you don't have to think of anything too sophisticated. However, if I had to choose one, I would say spend less than you earn. The moment you become interested in personal finance, it leads to a series of further consequences. At first people think about saving, cutting expenses, but over time you end up having new ideas and striving to increase income as well. So what happens to someone who controls expenses, increases income and is financially savvy? Very easily, he gets richer.

If trying to get out of debt, or if I'm on the verge of bankruptcy, there's no good financial advice. The only thing you can do is to work hard, because you don't have the capital to invest. But if you find that your assets are depreciating under the influence of the economic crisis and the epidemic, you can try various investments. My suggestion is to prepare to buy Bitcoin and ETH. The current market is still in a bear market, all you have to do is wait for the bull market.

Currently, I am also working 2 jobs and my income is also more stable without having to borrow as before. Although we are in an economic crisis, many people are having a hard time, but I am doing my job very well. I also advise people to just work harder every day, work while everyone is sleeping, then we will achieve certain successes.

Well said. I think your salary is good enough because you can be able to set aside for saving, investing and leisure time ( you know gambling, beer, cigs, stuffs like that ) what was your work anyway? Sorry to ask this but I only got curious. Once you invest, you should not touch it not even for emergency purposes because you already have your personal savings. That is the one that you will use.

I do not think I have a best money advice to share here because I feel that I am struggling financially. Salary from work is small and then I also have debts to pay. Can't help but to take a loan only to survive. I hope I can still be able to change this life I have right now.

Agree. I don't borrow money and i'm proud that I have no debt at this point of my life.

Well, i'm living in a poor country but somehow I can say that i'm not struggling in financial difficulties because I never stop working to earn money. I have a real job and business aside from my investment in crypto. What I can advice is, keep on working to maximize your earnings. Save money for the future and set aside the money for emergency. Get insurance if you can and invest on what you think is profitable.

Borrowing is also the same as having debt even though it must be repaid little by little according to the rules at the time of borrowing. Debt and borrowing actually have the same pressure because in the end they both have to be repaid. And my advice to you and also to everyone on this occasion is to work at two different jobs so that you can manage your finances or income in life.

For example, the income from the first job, you can use it for everyday life and the income at the second job, you can save it as savings for old age or savings for when you are sick. Or when you can't work for a week because there are more important matters.

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.

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.

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.

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.

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.

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.

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.

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.

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.