My One Money Advice

August 19, 2007 by Marcel

Pinyo over at Moolanomy tagged me in his My One Money Advice Meme. He was inspired by Blog Action Day. On Blog Action Day, all bloggers are encourage to write about something important in order to affect real change. For this Blog Action Day, bloggers will be writing about the environment from the perspective of their blog’s topic.

The question from Pinyo: If you can give one advice, tip, or story related to money, what would you share?

My answer: Understand that your situation is different from everybody else’s

Although I often write in my articles that YOU should do this and YOU should do that, my recommendations are not meant to be followed blindly. In some cases, it may be okay to have debt. Dare I say even credit card debt if used correctly. If you don’t feel my advice applies to you, take it with a grain of salt and move on.

The same goes for any advisor that tries to take a cookie-cutter approach to your finances. There are rarely absolutes when it comes to personal finance.

I would like to know what Matthew and mnc have to say. I’ll add their responses to the results below if they respond.

Here is what others have said:

Pinyo said, “save 10% of your income and make it automatic“
Paidtwice said, “ignorance does not help you…knowledge is power, and with power you can institute change“
Being Frugal said, “practice contentment…realize that money and things aren’t going to make you happy“
Plonkee Money said, “know yourself“
Hin’s Tech Corner said, “not to compare yourself to others and think about money all the time“
Loonies And Sense said, “take control, and do it now“
Adventures In Debt said, “have patience“
Give Me Back My Five Bucks said, “when you think you can’t…you can“
The Diary of a Reformed Spendaholic said,
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Categories: Personal Finance

12 Comments

Pinyo said

am August 20 2007 @ 4:55 am

Brian, excellent advice. This is especially true when you read personal finance blogs, because most of us are not professional, but are like-minded people who share our perspectives about money. Great!
My One Money Advice (MOMA Meme) | Moolanomy said

am August 20 2007 @ 5:04 am

[...] Financial Dominance said, “understand that your situation is different from everybody else
List Of The Best Financial Advice » My New Choice said

am August 20 2007 @ 11:26 am

[...] over at FinancialDominance.com has tagged me to participate in the My One Money Advice [...]
My New Choice said

am August 20 2007 @ 11:27 am

Brian, thanks for tagging me in this meme. There are quite a few good tips here and I’ve reproduced the list on my submission as well.
Retire Years Earlier with 1 Easy Tip said

am August 20 2007 @ 11:58 am

[...] My friend over at mynewchoice has tagged me with the question If you can give one advice, tip, or story related to money, what would you share? This comes from the My One Money Advice meme. [...]
Save Money, DIY! — findingroy.com said

am August 20 2007 @ 8:57 pm

[...] Financial Dominance said, understand that your situation is different from everybody else
Brian said

am August 20 2007 @ 9:26 pm

Testing threaded comments…
brip blap said

am August 23 2007 @ 12:06 pm

Thanks for the link back to brip blap, but more importantly thanks for putting all of the MOMA links in one place! Quite a few of them already…

Your advice is good, as well, since far too often pf bloggers (including myself) tend to project their own situation onto others. We should all remember to take all of the pf advice with a grain of salt, as you say!
Patrick said

am August 25 2007 @ 7:53 am

Great advice! I was almost tempted to put that along with mine, because they go hand in hand. In fact, most of these are great compliments to one another. Thanks for posting the entire current list.
Moolanomy weekly roundup #5: said

am August 26 2007 @ 7:34 am

[...] Financial Dominance said, “understand that your situation is different from everybody else
Moolanomy weekly roundup #5: “My One Money Advice” edition | Moolanomy said

am October 15 2007 @ 5:40 am

[...] Financial Dominance said, “understand that your situation is different from everybody else’s“ [...]
Owner Finance Home Loans said

am February 7 2008 @ 6:31 am

Owner Financing – Safety Tips…

Why offer owner financing when you sell? A higher price, to start with. Add to that a good return on your money, a faster sale, and an easier sale of a “problem property.” Good reasons, but how do you do it safely?…