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I have to admit it, even though I am a debt rescue guy and that has a little bit to do with personal finance, I find the whole personal finance field more boring that watching grass grow.

Guys I know like Ric Edelman do an amazing job of helping people to put their money here or there. Some of my friends are financial planners and I was even once a registered investment advisor. None of that changes the fact that personal finance advice and information is more painful that an extra long wait at the dentist office.

With some of the amazing mutual fund products that are out there today you can almost set and forget your investments. You can pick professionally managed funds based on risk, goal or retirement. That’s all pretty mindless. Put your money in and watch it grow.

What I find intolerable is the constant planning about what is the next greatest investment, stock or opportunity. Nobody knows. It’s the 50 pages of the latest personal finance magazine that go on and on about this or that stock or strategy. Doing well financially isn’t rocket science. I’ve broken it down into the following key tips that work for me.

Personal Finance Tips for a Dumb Ass (that’s me)

  • Spend Less Than You Make - Such a simple tip but if you want to be able to save money and not live on the financial edge you’ve got to git your life inside your paycheck.
  • Save What You Can - Don’t freak out over how much you saved this month or last month. Just put away as much as you can without having to go back in and touch it. Putting money into savings and then taking it right back out is not saving.
  • Don’t Be Afraid to Spend Savings - You know, you can actually spend your money in savings and not feel like you have failed in some way. This is especially true if you can do something like buy a house for cash or pay for your next USED car in cash.
  • Nobody Has a Crystal Ball - All the personal finance and investment pundits in the world get it wrong more than they get it right. There is no sure thing. What goes up, goes down and what goes down, goes up.
  • No Matter When, It Will Be The Wrong Time - You will always seemingly invest when the market is too high and take money out when it is too low, or at least it will feel that way. That’s a normal feeling.
  • Don’t Make It Complicated - I’m a huge fan of some of the higher interest rate saving accounts (Click here to find out the current interest rate they are paying.) that are available out there at any given time. They pay more than your local bank and best yet, they leave you with slightly delayed but easy access to you cash when you need it.
  • It’s Perfectly Okay to Have Fun - So many personal finance experts get so wrapped up in you have to save every penny that they fail to leave any room for fun. It’s okay to want to have fun. It’s okay to spend. It’s okay to treat yourself a bit. Just don’t overdue it.

The Best Relationship You Can Have With Money

I think the best relationship you can have with your money is when it gives you security in bad times and fun in good times. It might be a simple point of view but it works for me.

Don’t make it too complicated, have fun with your money. Take care of it and it will take care of you the best it can.

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Steve

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