Friday’s Financial Forum
January 12th, 2007 | by Molly's Brother |One of my goals this year, is to make MollysBrother.com more community-centered. I’ve long wanted to come up with something original that I could do each Friday. I toyed with many ideas, but rejected most because they didn’t fit into the mission of this blog.In the end, I still wanted my Friday posts to have meaning.
So, I turn to you. Different people arrive at this blog every day for different reasons. Some of you have your own blog–and thus your own platform to discuss personal finance issues. Some of you aren’t bloggers and, therefore, don’t have much of a platform to discuss such issues.
I strongly believe that support and strength arrive in discovering that you are not alone in your financial struggles. We all make mistakes. We all have our financial successes and our financial setbacks. Let’s share them all with each other.
Let’s cull our experiences in personal finance and share them with each other. This provides an opportunity for all of us–blogger and non-blogger alike–to listen to and share with each other.
THIS WEEK’S QUESTION
What was the smartest financial move you’ve ever made?
I invite you to participate in this little experiment. Please share your wisdom with others in the comments section.
10 Responses to “Friday’s Financial Forum”
By Josh on Jan 12, 2007 | Reply
Good idea.
My smart financial move came as a result of a financial mistake. I leased my first car and spent way too much for a car I couldn’t afford. When I turned it in five years ago, I bought a reliable used car. But each month, I pretended to have a huge car payment. 30% went to paying off my new (used) car. The other 70% went into my savings (which didn’t exist at that point). Five years, later, I have some financial wiggle room.
By Steph on Jan 12, 2007 | Reply
The first one I can think of was actually made for me. After my Bat Mitzvah, my parents put all of the money that was given as gifts in a mutual fund for me. It has done pretty well in the last decade, and it continues to grow. I’ve been tempted to use the money from time to time, but have not yet, and am glad that I can perhaps put it towards grad school or a down payment on a home at some point.
My best financial move that I made for myself was making sure not to lose my 401k when I left my last job, and being pro-active about managing my retirement funds.
By Tricia on Jan 13, 2007 | Reply
Oooh…this one is a little hard. I believe I’ve answered this one before, but now that I think about it more, I have two tools that have helped me tremendously financially. At this point I think I would be lost without either of them. One is Quicken and one is my blog. I think using those tools to get somewhere financially are the best moves that I have made.
By traineeinvestor on Jan 13, 2007 | Reply
My best financial decision was to spend the time and effort to develop the skills that I use in my job. Earning a high income makes saving for retirement a lot easier.
Second place is the decision not to buy a car - the savings from year to year are quite impressive.
By Molly's Brother on Jan 13, 2007 | Reply
Personally, the best financial move I ever made was starting this blog! It really helped me focus my energy on my financial future. In terms of money, the best financial move I made was depositing money into high interest saving account and an IRA a serious part of my regular financial habits.
By Stephanie on Jan 13, 2007 | Reply
I think the smartest move I made was getting addicted to financial blogs! I’ve learned so much in the past few months, and it’s really changed the way I think, including about things that aren’t money!
By EMF on Jan 13, 2007 | Reply
The smartest financial decision I made, when a youth, was to spend less than I earn and always save for the future. Any other financial acumen is worthless without that as you’d have no funds against which to apply your skills. The next smartest was to get an education that enabled me to get a well paying job.
By debtinseattle on Jan 15, 2007 | Reply
There are two things that I am so thankful I discovered! One is Quicken… I use this so much that I don’t remember what my life was like before discovering it! The second is making sure that my husband and I are on the same page when it comes to our financial future. I think it’s critical for us to be on the same page or else we’d get nowhere in our goals.
By WH on Jan 16, 2007 | Reply
MB, I agree with you here: My best move was to start my pf blog! It has encouraged me to read other pf blogs, keep setting & reaching for my financial goals, and possibly most importantly, pf blogging has encouraged me to keep blogging and keep abreast of my financial situation by letting me see how many people out there are as concerned about their financial situations as I am!
By Molly's Brother on Jan 16, 2007 | Reply
Thanks, everyone for leaving your thoughts. Great comments from all of you. I look forward to reading more of your thoughts this Friday. Hopefully some others will join the conversation, too!