Where were you, financially, 15 years ago?

[Gruntina]

Originally Posted by Ima saver

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]

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]

Originally Posted by Ima saver

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]

Originally Posted by sixsarah81

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]

Pretty well off! I was 12.

[greedy4chips]

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!