Don’t be an Idiot With Your Money

by Ryan

People do stupid things with their money every day, these people act like money idiots.

Pretend for a moment that I’m your grandpa giving you sage, yet common sense advice. That advice would be

“Don’t be an idiot with your money”

or just pretend that you’re Dwight via the clip below.

A lot of people run into money trouble because they act like idiots.

They spend more than they make, they don’t pay their bills on time, they buy lottery tickets before investing in something like a Roth IRA.

This week, be like Dwight, and any time you’re about to spend your money ask yourself:

“Would an idiot spend their money this way?”

If they would, do not spend your money that way.

Best of luck not being an idiot with your money this week.

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{ 5 comments… read them below or add one }

Financial Samurai January 17, 2011 at 9:05 am

But it feels good to get into debt. And it feels good to get out of debt. So it’s perfectly rational!
Financial Samurai´s last blog post ..Hoping For Something To Break In Order To Buy Something New

Alan Mater January 17, 2011 at 3:07 pm

Hey Ryan,

Awesome advice, my friend. I know I’ve been an idiot with my money in the past. It happens. It’s part of life. You live and learn. The main thing is to learn from the past and not to be an idiot with your money in the future. 😉
Alan Mater´s last blog post ..December 2010 Income Report

Delena Silverfox@Flightnetwork Promo Code January 17, 2011 at 3:15 pm

That’s absolutely true, and so easy to forget in these tough times! I didn’t really learn about money, how to manage it, or how to invest until the past year or so, and it was difficult to get ahead. I have a few investments now, things that I purchased and am holding onto for the long haul (like silver). I’m looking into property investments now. After reading “Conspiracy of the Rich” by Robert Kiyosaki, however, and “The Creature from Jekyll Island,” I’m not too keen on paper investments like Roth IRA’s. Less than two years ago, I watched my sister’s face as she read her quarterly report for her paper assets; she’d lost everything except her initial investment. Siyonara ten grand.
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Invest It Wisely January 18, 2011 at 2:35 pm

A lot of people think like governments do: “Well, it’s easier to just add a bit to the debt (or save less) rather than deal with the stress of having to change my life around and cut my expenses now!”. Debt is the easy option in the short term. Unlike governments, we can’t quantitative ease ourselves out of the mess later on!
Invest It Wisely´s last blog post ..What Are The Best Gas Credit Cards For 2011

Travis @DebtChronicles January 19, 2011 at 8:48 pm

Simple, to the point, and 100% correct!

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