Tilted Forum Project Discussion Community - View Single Post

Blackthorn · 02-02-2005, 09:16 PM

1) Educate yourself so that you can earn a better living. Once your are educated go back to school and learn some more. Do NOT lose the lust for knowledge or you will quickly become irrelevant.

2) Save early and save often. The original post was accurate by suggesting that the earlier you start the better off you will be. I bought my first share of stock using grass cutting money at a very early age. It was Procter and Gamble which is a local company for me. They - along with many other companies - offer direct investing options that are in most cases low cost (no brokerage commissions,etc) or in the case of say Pfizer no cost. The earlier you start the greater your returns will be over time. Time = compounding = making your money work for you. Do it now. Do not wait.

3. Do not fall into the trap of having too many credit cards with balances that you cannot pay off every month. If you don't have the cash for it then why are you buying that Coach purse? If you don't have the cash for it then why are you buying that Polo shirt with the funny little horse rider on it? Keep a single card for emergencies like a car repair or other calamity. Use it infrequently so the credit companies get to know you as a reliable consumer but don't for shit's sake carry a god damned balance on one of these things. It will crush your ability to participate in #2 above.

4. Good credit history will allow you to successfully borrow money to buy a house which is where you need to borrow money. You do not need to borrow money to buy the next Snoop Dog CD. Enough said said about credit cards.

02-02-2005, 09:16 PM	#18 (permalink)
Blackthorn Beware the Mad Irish Location: Wish I was on the N17...	1) Educate yourself so that you can earn a better living. Once your are educated go back to school and learn some more. Do NOT lose the lust for knowledge or you will quickly become irrelevant. 2) Save early and save often. The original post was accurate by suggesting that the earlier you start the better off you will be. I bought my first share of stock using grass cutting money at a very early age. It was Procter and Gamble which is a local company for me. They - along with many other companies - offer direct investing options that are in most cases low cost (no brokerage commissions,etc) or in the case of say Pfizer no cost. The earlier you start the greater your returns will be over time. Time = compounding = making your money work for you. Do it now. Do not wait. 3. Do not fall into the trap of having too many credit cards with balances that you cannot pay off every month. If you don't have the cash for it then why are you buying that Coach purse? If you don't have the cash for it then why are you buying that Polo shirt with the funny little horse rider on it? Keep a single card for emergencies like a car repair or other calamity. Use it infrequently so the credit companies get to know you as a reliable consumer but don't for shit's sake carry a god damned balance on one of these things. It will crush your ability to participate in #2 above. 4. Good credit history will allow you to successfully borrow money to buy a house which is where you need to borrow money. You do not need to borrow money to buy the next Snoop Dog CD. Enough said said about credit cards. __________________ What are you willing to give up in order to get what you want? Last edited by Blackthorn; 02-02-2005 at 09:18 PM..