Where were you, financially, 15 years ago?

[Ima saver]

Re: Where were you, financially, 15 years ago?

If you just pay minimum on your credit cards, it will take forever to pay them off.

[Dido]

Re: Where were you, financially, 15 years ago?

If you just pay minimum on your credit cards, it will take forever to pay them off.

Well do I know that now! But 15 years ago, I didn't, and it was one thing that kept me mired in debt. I teach young adults and this is one message that I pass along every chance I get.

[Gruntina]

Re: Where were you, financially, 15 years ago?

I was 15, 15 years ago. I was naive and didn't even think about money. Well actully, living on the streets, you find ways to survive without money. But I remember finally moving into my Dad and his wife home for three years around that time so I had my health and education taken care of. When I left home and head to college, I somehow managed without ever asking for help or money from anyone in my family. I wished I thought about money and investing but it was just not in my head.

I have goals (mostly just hopes) to accomplish even if I am only 30 right now. Better now than later. I hope to have children some day and when I do, I am hoping to share my knowlege of money. They can either take it or not but at least I tried and they can not complain I never told them.

[sixsarah81]

Re: Where were you, financially, 15 years ago?

15 years ago I was almost 10 years old and didn't have a dime to my mane. My parents were financially irresponsible and had just filed bankruptcy.
I learned from their mistakes.

[Saving in So Cal]

Re: Where were you, financially, 15 years ago?

15 years ago I was 26 and had just gotten married. I had finished my college degree (night school) a couple years earlier and had been out of debt for about a year. We both had good jobs and pooled our savings to buy a brand new condo in a brand new housing market. It turned out to be the worst financial decision we ever made (the housing market went south, the condo had major construction defects, and the developer was bankrupt). Fortunately, because we had already learned to live within our means and had a small savings, we made it through the difficulty with our marriage in tact (still is).

[Ima saver]

Re: Where were you, financially, 15 years ago?

I lived in a very small town and went to the library to start learning how to invest. They had no books on investing, mutual funds, nothing. I really had to do some work to start to learn how to invest. I found money magazine and that helped me a lot. I bought books at book stores. The wealthy barber was an easy to understand book.

[Gruntina]

Re: Where were you, financially, 15 years ago?

I lived in a very small town and went to the library to start learning how to invest. They had no books on investing, mutual funds, nothing. I really had to do some work to start to learn how to invest. I found money magazine and that helped me a lot. I bought books at book stores. The wealthy barber was an easy to understand book.

Ima, I am still trying to figure out investing lol! The hard part is there are so much online and I am not sure where to begin. Also I am starting late now 30 and feel overwhelmed a little bit.

[Ima saver]

Re: Where were you, financially, 15 years ago?

Well, I was over 40! Try a few books first. I liked "The wealthy Barber" and All you ever needed to know about Investing by Andrew Tobias. Aslo Financial Peace by Dave Ramsey.

[Gruntina]

Re: Where were you, financially, 15 years ago?

Well, I was over 40! Try a few books first. I liked "The wealthy Barber" and All you ever needed to know about Investing by Andrew Tobias. Aslo Financial Peace by Dave Ramsey.

Ima - Thanks!! I will be checking out those books. I will be debt free hopefully by December(Depending if I get my year end bonus). I am hoping to have some planning goals by then so I don't waste the money I will be able to take home.

[tgavin71]

Re: Where were you, financially, 15 years ago?

15 years ago I was almost 10 years old and didn't have a dime to my mane. My parents were financially irresponsible and had just filed bankruptcy.
I learned from their mistakes.

What a fantastic lesson to learn. Sorry you had to learn it like this though.

As for me 15 years ago I was 20. Was it really that long ago? Anyway I was in 3rd year uni. As long as my rent was paid and I have money to buy food, alcohol and occassionally some other drugs I didn't really give two hoots about money. Going out, enjoying life and having fun was much more important.

[simpleselu]

Re: Where were you, financially, 15 years ago?

Pretty well off! I was 12.

[greedy4chips]

Re: Where were you, financially, 15 years ago?

15 yrs ago I was 23 and had a dollar in dollar out mentallity. I worked hard and spent it harder.

All that changed that year when I started working for Coca-Cola and their 401k was my savior. I was almost forced to learn about saving and what to do with my money. I read everything I could get my hands on and actually spent many hours walking coworkers through information and the math to compound interest and its enormous effects if you start young.

I can still remember very vividly the look on their faces when I said what $2k per year would become at 8% for those my age. What an eye opener. We now have much more than we owe on our house, cars, and personal items by simply paying ourselves 10-15% first!

Never chase the hot funds or put all your money into one fund, it will never work for you.

Start paying yourself early and stick to it.

Live below your means!!!!!!!! I have soooo many friends/family who are in debt up to their eyeballs and one little problem quickly balloons into a financial crisis.

If you can't save $10 per day you need to change your spending habits fast!

Good luck!