OK not really.
But lately I have been feeling really lucky. We are not "rich" by any means. But for one income, 4 kids & a mom that likes to eat out way to much, we are surviving. I will confess, it is pretty much all Wade. But I like to think I throw in a few good tidbits.
Here are my list of financial good ideas!!
-If you rent your home---Buy a house, as quickly as you can, especially in this market.
-Take a look at your home loan - does it maximize your payments, are you paying tons of interest and practically no principal. Is it time for a change?
-If your employer matches or makes any contribution to your 401K -its called free money-take it
-Pay 10% tithing, save 10% for a rainy day
-We do not currently have a car payment- but we make one anyway-to ourselves-making interest instead of paying interest!! (compliments Wade's sister Carolyn)
-Do not spend what you do not have!!
-Buy low, sell high
-If you are under 40yrs you have time to save, so take a few chances
-buy stock from companies that you like, if you buy 5 -3 will do OK, 1 will dive bomb & 1 might be awesome. (thanks Peter Lynch)
-Take advantage of Employee stock Purchase Programs
-Buy used if you can stand it.
-Find a great Realtor, Financial Advisor & Lender etc...
-If you get money from one investment turn it over into more investments. (and maybe build yourself a pool)
-Education is an investment.
-We Love ING it is the best banking product out there.
-Health Savings Accounts-good idea!!
Here is a list of Not to do's
-Do not try to sell Fiesta Bowl tickets when the teams playing, are from half way across the country & no one wants to see it.
-Do not buy a house in Guadalupe that you can get "for only $45k" It might need major renovations!!
-Do not try to sell a rental when there are renters still in it.
I have seen lots of "investing" going on around me recently. Sometimes it is not my favorite thing to do, spend my youth (yes I am still young) planning for the future, but if I don't do it, I am pretty sure no one else will.
3 comments:
geez, you're brilliant! I sense a financial-themed enrichment approaching, starring the one and only mrs. eager...thanks for the tips, some of them were new to me!
Wow, love all the tips. Very impressive. We love ING too!
Deirdre, that is one of the best financial lists I have seen. I am going to print it off and use it in modified form for RS visits. Thanks. Tell me about the Guadalupe house? I bet it is a good story!
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