Smart Thinking On Investing – August 25

Smart Thinking On Investing – August 25

Stefanie O’Connell, in her self-named blog, opens up Smart Thinking this week with a look at lessons to be learned from the popular TV program, Sex and the City. Lesley James, guest posting on Money Nuggets teaches how to begin investing. And Alyssa Fischer, author of Mixed Up Money, explains why she still avoids shopping even now when she’s debt free.

Writer of Afford Anything, Paula Pant, shares her life lessons for dealing with money. And Teddy Luxband, writing on his wife’s website The Luxe Strategist, discusses getting married and merging finances…


Sex and the City Financial Lessons

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  • When you hit a rocky path in your finances, don’t spend your time stressing, get creative instead about ways to make new income channels
  • Negotiation is your friend, don’t be afraid of it—in today’s society, you’ll be surprised at the number of times and places where you can barter over price
  • Have a financial plan that supports you whatever happens, if you are in danger of relying on someone else for money too much, you may end up worse off if that relationship ends
What money lesson did Sex and the City teach you? Share your comments in the section below

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Be Prepared

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  • Pay off your debts and credit cards first, and second, have an emergency fund setup—once these are done you should then be looking at your investing opportunities
  • Now, start saving a regular amount from your income EVERY MONTH—and automate it so you have no excuses
  • Next, diversify your investments across different asset classes (real estate, bonds, stocks and commodities), and keep your fee expenses as low as possible

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Why Malls Can Be Dangerous

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  • Have you gone to all the hard work of getting yourself out of consumer debt by paying off your loans and credit cards?
  • Then stay away from malls to help you resist the temptation for careless spending before you find yourself back at square one
  • Take it one step further and make yourself sleep on any e-commerce purchasing decisions before you click buy to prevent the same in online shops

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“Money Doesn’t Buy Stuff—It Buys Choices”

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  • Rather than saying “I can’t,” ask instead “How can I?”—being positive about finding a solution is the first step to achieving your money goals
  • Money matters, not because of the stuff it can buy you, but because of the freedom it can give you in your life choices
  • Grow the gap between your income and your spending by earning more and spending less, then invest it, and keep reinvesting it

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Tying the Knot and Merging Your Finances… Or Not

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  • When you get married, it can seem like a natural requirement to merge everything, including your finances
  • You and your partner can have a healthy, united approach to money without marrying your bank accounts together too
  • Just be open and honest with each other, discuss your shared goals together, and be fair—then the rest is just about maintaining respect for the other’s finances within your relationship

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Do you want to start investing on your own, but don’t know how?

Check this out!

 

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DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article. Andrew Stotz doesn’t necessarily endorse any stocks or shares mentioned in the articles or the author of such articles linked to and summarized in Smart Thinking On Investing and cannot guarantee the accuracy of its information.

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