What was your BEST financial decision ever??

[twinjackienurse]

I was reading the post of your financial setbacks, now I want to know whats the best financial decision you ever made??

[jeffrey]

Quit watching TV and using that time to create other projects like this website -- not a doubt about it.

[tulsa_sr5]

When I was 26 and shopping for my first place. Only looking at condos because that was what I could afford, when a junky house showed up on the MLS listings in my price range. It was pretty rough and so was the neighborhood (curtis park for anyone familiar with Denver) but was also only about 6 blocks from Coors field and walking distance to the light rail and downtown. Doubled my money in 2 years on that house and didn't even fix it up all that much.

That said, I think finding this site, and getting on board with most of Dave Ramseys ideas over the last month or so will probably be even better a couple years down the road. If I'd been on a budget and smarter with money back then I might still have some of the profits I made of that old place.

[poundwise]

Paying off all my debt. It's amazing what you can do when you get to keep your paycheck.

[Pitman]

Stop buying sneakers. In the one year I've been cold turkey from buying sneakers, I've paid off my car note, two credit cards, and saved more money than I've ever had.

[jeffrey]

Originally Posted by Pitman

Stop buying sneakers. In the one year I've been cold turkey from buying sneakers, I've paid off my car note, two credit cards, and saved more money than I've ever had.

Damn, you must have been buying a lot of sneakers

[Like2Plan]

1. Understanding my own risk tolerance for investments.
2. Buying a 4 year pre-paid tuition plan for our DS.
3. Saving money on an automatic basis each pay day and sticking with the plan. Increasing the saving levels each year.
4. Purchasing a house that we could afford on one salary (and paying extra on the mortgage until it was paid off).
5. Planned replacement for our cars. Keeping a vehicle for at least 8 years.
6. Visiting this board regularly for more good ideas.

[SnoopyCool]

I agree with tulsa about finding this site. I've learned more here than I ever did taking a Personal Finance class (though that's probably because I was young and didn't care that much about the material being covered).

Also, implementing a savings plan. It turns out you really DO need an Emergency Fund sometimes!

[maat55]

Selling the house I bought that was having me live beyond my means.

[Goldy1]

It is hard to pick one thing since all the small things count. I would say just simply getting a sudden inteest in personal finance in general and educating myself by reading books at the library often on it.
Education is key.

After that, not upgrading to a bigger more expensive home just b/c we may have been able to get a mortgage for it.
I bought a year old car last time instead of new.
Focused on the big things ie. I care more about having a nice house in a good neighborhood than lots of handbags so when I tell myself No to those things, I think about what I DO have not what I do NOT.

I have regrets but a lo tof good points too.

[mommyof4]

Getting myself interested in personal finances, reading a few books (Dave Ramsey, Mary Hunt), and settling on a "plan" to get myself out of debt and start saving. I have my baby emergency fund up and running, I'm agresively paying off all of my cc debt (have only about a $1000 to go- should be done this summer, if all goes according to plan), and also working on getting my husband on board with me, too.

[arthurb999]

Going to shcool part time at night on the company dime to get my MBA. I've had it for 5 years now and the increase in pay/jobs I now qualify for is big.

[poundwise]

Originally Posted by jeffrey

Quit watching TV and using that time to create other projects like this website -- not a doubt about it.

For further information: Finding Time to Pursue Your Dreams

[kork13]

I think I'm with Goldy--there's really a whole chain of small things that have led to progressively better financial decisions.

Technically, I suppose the BEST decision I've made would be going to college/joining the military.... I had my college education paid for, and it's been a constant income stream which (albeit somewhat small, especially while in college) has enabled me to make a significant number of good financial moves/decisions for myself. The job security is pretty good too....

Otherwise, I'd say it was first learning about finances... Early in my junior year in college, my supervisor offered to teach myself and some friends some basics of saving, investing, and finances in general. I accepted, and that started getting me interested in actively managing my finances rather than just sort of letting things happen as they might. My parents had taught me to save (I'll always be grateful for that), but I've since learned how to actually do something with my saving.

[Pitman]

Originally Posted by jeffrey

Damn, you must have been buying a lot of sneakers

Sad to say, but I was buying about 3 - 4 pairs a month. I would only the exact minimum on my debt to free up money to splurge on more footwear. It was like sneakers was a drug, and I was extremely hooked. Now that I look back, I'm glad I was able to "kick that habit", and focus more on my finances, and I've been moving forward ever since.

I would also like to add that this site has also helped me tremendously. Nothing compares to wealth of knowledge (pun intended) I've learned just over a year since I've joined. I wouldn't be where I'm at financially if it wasn't for this site, and my Mother, of course.

[pearlieq]

Marrying the right person.

Hands down the best financial decision I ever made. Your choice of spouse will affect nearly everything in your live. If I had married the wrong sort of man just because I was infatuated with him, my life could be MUCH different.

[MonkeyMama]

Moving to an areas with a lower cost of living.

Over the course of our life we will save anywhere from six to seven figures. I still do not understand why most people we know back home consider it such a drastic move (we moved merely 2 hours away. Wouldn't trade it for nothing. Life is twice as luxurious and half as difficult, all at the same time).

[creditcardfree]

Learning about personal finance. ( I did this through college courses, reading books and working in the financial industry)
Starting our marriage with an emergency fund.
Paying off debt early as well as avoiding it in many cases.
Investing in our retirement funds consistently.

[disneysteve]

If I had to pick just one thing, I guess it would have to be getting a good education, and I mean that on various levels. Of course, my formal education led to my career, comfortable income and the ability to afford a nice lifestyle. I would also include my informal education, particularly in financial matters. Reading personal finance books and magazines, watching financial stories on TV, hanging out here, etc.

[feh]

1. Start saving early for retirement, in large amounts.
2. Living well within our means.