Personal Finance Skill Sets

[questions]

What in your opinion are the most important skill sets to have in order to be successful with your personal finances? Is it essential to be organized or to not like shopping? Are there skills that can't be learned that are essential to stay out of debt? Which skills help you the most when you are dealing with personal finance. I'm afraid that I don't have the skills necessary to get my personal finances in order...

[LuxLiving]

Consistency and mindset!

[Broken Arrow]

I think the most important thing is determination and single-mindedness!

I would say organizational skills comes in at second, with knowledge being a close third.

They're all fairly important in my mind though, so it's not easy to put them in any particular order.

Anyway, that's my opinion.

[greedy4chips]

Being a penny pincher is obviously number 1 in helping.

Controlling your spending would be my number 2. By upgrading cable, internet, cellphone, etc. you can spend up to $200 more per month in non necessities. Add in impulse spending, coffees, fast food, name-brand clothing, etc and you have another $200 per month spent. I think you get the idea.

It is my opinion that investment poor people have the most difficulty budgeting and avoiding the small upgrades in life that drain your savings ability.

We use to get along fine without cell phones, cable tv, internet, A/C but now many consider them absolute necessities in life!

[Ima saver]

No one taught me anything. When I first got married I realized that I had to pay the bills and handle the money. So I got pen and paper and set up a budget. It was necessary to be very frugal to be able to pay all the bills.
Having a budget and putting my allotments into envelopes was the way I got started. Well, 40 years later, I am still on a budget. It also helps to read and learn all you can about saving, handling money and investing!

[sweeps]

Patience and creativity.

[TinyFish]

Self control.

[yellow heel]

Setting up a goal so you have something to work for.

[PRICEPLUS]

Discipline and consistancy! One must save and spend just what is necessary.

[Fern]

A long-term perspective and the patience and determination to continue disciplined savings/spending.

The ability to distinguish between frivolous 'wants' vs things that bring lasting value or enjoyment to your life

Self-restraint.

[LuxLiving]

See ya'll it isn't about how much you bring in - it's about how much you keep and how little you spend!! Nobody has brought up the need for more education so you can earn bigger bucks! I like that! You guys are right on target it appears to me!

[PrincessPerky]

You don't hav to have all the right skills (though it would be nice if I did!) you jhust have to start somewhere and try.

I would suggest starting with the checkbook (it is the step after recognizing currency and basic math that I will be teaching my kids.)

grab your and a bank statement.. and balance it..if you need help ask your banker for it..I did my first time eons ago.

[Snoopy2645]

I am not sure I think its being a TW but what makes us one I have no idea me & my mom were just discussing this my brother cant keep his head above water yet only has 1 grown dd & never married & runs a business always crying I am so broke & he is its not a lie!!! I on the otherhand grew up same house & same parents & I was a born penney pincher not sure why we are so different we were raised in the same house!!! So no idea what happened to him!!!