Keep it simple, Stupid. That’s something we’ve all been told at one time or another, for any variety of reasons. That’s usually sage advice — especially when it comes to managing your personal finances. There’s no need to make things complicated. Generally speaking, remember:
- Minimize or eliminate impulse purchases.
- Save up for what you can’t afford.
- Understand where every penny you earn is going.
- Pay yourself first; make your retirement and emergency funds your top priority.
- Make sure your credit card balances are paid in full each month.
- Spend less than you earn.
The bottom line: It really is that simple.
Photo Credit: torbackhopper
now, if we could only get politicians to understand how simple that works we’d really be a government of the people, by the people, for the people. 🙂
Well said, Griper.
It sound simple on paper! But money management is very psychological.
What the heck is that picture, anyway??
Ha ha! Sorry; I was trying to find a good picture of something that was complicated, and that was the best I could come up. LOL
It’s lame, I know.
What ever it is I think you have to have it trade bit coin and use credit card and fill up your Tesla.
Len I thought you were using that as a subliminal message and pull out the Gold pliers to fix it. : )
If one zooms out it leads to a basement in Michigan?
Ha ha! I’m sure it does, if not the next door neighbor’s house — er, if you know what I mean (and I know you do)! 😉
Life can be simple if we all make it to be.
What is so interesting is many people plead ignorance as to why they are in such bad financial shape. They didn’t “know any better”. You mean you didn’t know you shouldn’t buy things you can’t afford? You didn’t realize that you needed to save your whole life in order to retire?
You are so right in that it is so very basic. People who have basic math skills can do fine with their finances. Hell, I have invested a lot in the stock market over the years based on all my great knowledge, maybe I would have been better off just investing in CDs this whole time.
Great post.
Got any hot stock market tips you want to share, Kris? 😉
The hardest for me is impulse spending. Because it is so much fun! And so much buyer remorse afterwards. This emotional rollercoaster is addictive.
For me, Aloysa, it’s impulse eating. 😉
Someone years ago told me to make KISS into “keep it stupid, simple.” which makes sense. Over complicating a process defeats the purpose and dumbing it down makes it less complicated. So when it comes to $$$, I keep it pretty stupid.
The thing is, folks who are good at keeping things simple are usually very disciplined. Conversely, people who tend to make things more complicated than they need to be are generally — I said “generally” — unorganized and suffer from a lack of discipline.
What a short and sweet blog post! KISS is a very prominent theme in my line of work as well. But I like where you are going with it too it can be useful if we apply it to our lives as well. All too often, people think there is some complicated equation to getting rich or finding success. In reality, this is all much simpler than people think. Your couple of bullets sums this up nicely!
I understand, but for me, food is a much bigger challenge than money.
Sorry I’m having problems posting. Would someone please delete my previous attempts here? I just give up.
When you post a link, Angela, it goes into the moderation queue. In any case, it was broken. I do appreciate you trying though — I bet the rube goldberg link (had it worked) would have been a good one. 🙂
With credit available on such a large scale in the States, folks will be more than hesitant to save or get out of debt.
People in the old country buy everything with cash. I would say more than 95% population don’t even know what credit card is.
It’s possible to minimize the use of money altogether.
Get to a place where you can DIY and enjoy your independence.
Raise a vegetable garden, keep a few laying hens, raise a beef steer calf, heat with firewood.
Even build your own house!
https://lenpenzo.com/blog/id43684-grandfather-says-the-benefits-of-diy-housing.html