JacksonM wrote:

JGibbs wrote: The idea of selling with a MLM always seemed like a bad idea, but I learned from lazymanandmoney.com to never sign up with a MLM, because they will promise you the world but 99.9% of people lose money. People involved in MLMs will pretend like they're living it up when they are going broke. It's all part of faking it until you make it.

Books and programs will only get you so far. To succeed you must change your attitude and behavior. As Dave Ramsey says, "Personal finance is only 20% head knowledge. It's 80% behavior!" I'm not a big fan, but he's got this one right.

I've heard about these for what feels like my entire life. I've learned if something sounds too good to be true, then it probably is. There's no easy or fast way of making money. You have to work to earn.

Well said! Hard work pays off in the long run.

JGibbs wrote: The idea of selling with a MLM always seemed like a bad idea, but I learned from lazymanandmoney.com to never sign up with a MLM, because they will promise you the world but 99.9% of people lose money. People involved in MLMs will pretend like they're living it up when they are going broke. It's all part of faking it until you make it.

Books and programs will only get you so far. To succeed you must change your attitude and behavior. As Dave Ramsey says, "Personal finance is only 20% head knowledge. It's 80% behavior!" I'm not a big fan, but he's got this one right.

I've heard about these for what feels like my entire life. I've learned if something sounds too good to be true, then it probably is. There's no easy or fast way of making money. You have to work to earn.

JGibbs wrote: The idea of selling with a MLM always seemed like a bad idea, but I learned from lazymanandmoney.com to never sign up with a MLM, because they will promise you the world but 99.9% of people lose money. People involved in MLMs will pretend like they're living it up when they are going broke. It's all part of faking it until you make it.

Books and programs will only get you so far. To succeed you must change your attitude and behavior. As Dave Ramsey says, "Personal finance is only 20% head knowledge. It's 80% behavior!" I'm not a big fan, but he's got this one right.

Agreed with that!

The idea of selling with a MLM always seemed like a bad idea, but I learned from lazymanandmoney.com to never sign up with a MLM, because they will promise you the world but 99.9% of people lose money. People involved in MLMs will pretend like they're living it up when they are going broke. It's all part of faking it until you make it.

Books and programs will only get you so far. To succeed you must change your attitude and behavior. As Dave Ramsey says, "Personal finance is only 20% head knowledge. It's 80% behavior!" I'm not a big fan, but he's got this one right.

Pinky wrote: If you don't buy a safe, saving money at your home could be a disaster in and of itself. If you have to move quickly as in a tornado, you probably won't think of your money until it's too late. Or, the tornado will destroy your property to the degree that there is nothing left. Be careful when keeping money at home.

Just my opinion, but I would never keep over 1% of my net worth in cash at home. There are just too many risks to me. I don't really see the benefits.

If you don't buy a safe, saving money at your home could be a disaster in and of itself. If you have to move quickly as in a tornado, you probably won't think of your money until it's too late. Or, the tornado will destroy your property to the degree that there is nothing left. Be careful when keeping money at home.

Breakinger wrote: I've never thought about what could happen in the event of a natural disaster and you really need your money. What a great idea to keep some stashed away at your home. Do they make special safes that can withstand flooding or other natural diasters? Would a fire-box do the same thing?

Yes there are safes like that. Those can get expensive though and sometimes could cost as much as the cash you are trying to keep safe!

I've never thought about what could happen in the event of a natural disaster and you really need your money. What a great idea to keep some stashed away at your home. Do they make special safes that can withstand flooding or other natural diasters? Would a fire-box do the same thing?

FrugalFran wrote:

Goldbug wrote: Also, always have a small supply of cash ready for emergencies.

I always have anywhere from $500 to $2000 in a safe in the house. I've been involved in a few natural disasters when accessing banks was impossible, so having cash on hand is crucial to me.

WOW what a good idea! Glad you provided this information. Believe I will implement this to cover the unknown!

Goldbug wrote: Also, always have a small supply of cash ready for emergencies.

I always have anywhere from $500 to $2000 in a safe in the house. I've been involved in a few natural disasters when accessing banks was impossible, so having cash on hand is crucial to me.

Pay cash when you can, or pay money onto a credit card before you use it so you don't have to pay interest but can still get rewards or cashback. Also, always have a small supply of cash ready for emergencies.

Another important note is to establish an numerical goal. I want to save $X this month or this year. That way you can actually track yourself. I find I like to say I am going to save x% of my total earnings for the year. This helps me try to match this goal.

MidSouthGal wrote: What are some of the tricks you have learned on the way?

The best way to save money is not to spend it.

Aside form the obvious, automated payments to your own savings or 401k account is the easiest way to do that. After time, you don't even realize you're doing it anymore. Out of sight out of mind.

It sounds so easy to pay yourself first doesn't it? But until I saw a graph in Monthly Cheapskate about how close to the line I was living, I just never really got it. I also learned the separate savings account thing from there.

(1) Always pay yourself first and automate these savings
(2) Save for specific short-term and long-term goals. It is okay to splurge sometimes if you adequately planned for it
(3) Never have credit card debt, unless you have no where else to go
(4) Teach your children and start saving when you are young!