Comments on: What are some of your controversial personal finance beliefs?

By: David Jacobs

David Jacobs — Tue, 16 Jun 2020 08:10:23 +0000

WITHOUT ANY KNOWLEDGE OF HOW TO MANAGE BILLS AND SEPARATE “WANTS” FROM “NEEDS,” MANY PEOPLE MAY SPEND THEIR LIVES ENDURING ONE FINANCIAL HARDSHIP AFTER ANOTHER.

By: J. Money

J. Money — Mon, 17 Feb 2020 20:56:44 +0000

In reply to Mitch. I think you're the first server ever to come onto this site and speak those words :) Brave of you!

By: Mitch

Mitch — Sat, 15 Feb 2020 02:10:59 +0000

Oh, tipping! Now THERE’s a topic to get my dander up! Lol

I worked for years in high school and college as a busboy and waiter. And even for a time in my early 30s in between real gigs. I *refuse* to tip 20% for crappy service. 0-10% for crappy service (there are varying levels of crappy), 15% for average, and 20% or more for excellent.

I am weirdly passionate about this topic, because I cannot stand it when my friends (who have never worked a service job in their life) feel a kind of moral obligation to pay these “poor people” a “fair” wage. As if they have any idea what they’re talking about! Believe me, an excellent server makes excellent money – and has a great time doing it.

**stepping off soapbox**

The only other statement that’s potentially objectionable is “it’s ok to pay fees for great banking products.” I’d need more specifics on that – like what products?

:-)

By: J. Money

J. Money — Wed, 12 Feb 2020 11:54:48 +0000

In reply to Carreira Finance. Amen on #2.

By: Carreira Finance

Carreira Finance — Tue, 11 Feb 2020 17:11:21 +0000

1 – tax refunds are not a good thing
2 – you don’t have to cut everything you love in life to improve your finances
3 – you can make money out of credit cards

By: J. Money

J. Money — Fri, 31 Jan 2020 22:12:21 +0000

In reply to Deanna @ Recovering Women Wealth.

Sweet!!!

Also less painful paying off in chunks too, cash-flow wise.

You should blog the before and after pics when you write about it ;)

By: Deanna @ Recovering Women Wealth

Deanna @ Recovering Women Wealth — Fri, 31 Jan 2020 12:33:33 +0000

I simply love this. I saw this one come through last week in my email and was saving it to read when I had time. There are no rules only what is right for you. As a testified rebel from Gretchen Rubins, the 4 Tendencies quiz, I often go against the grain just because. It was a lot more random and scattered in my past before gaining a whole bucket of self-awareness. Now post sobriety/awakening, I calculate my rebellion for what truly resonates with me.

One outlandish financial idea: it’s okay to borrow money if (big if) there is no interest. For example, I got braces and could pay for them all at once. However, my dentist lets me pay them off slowly. He doesn’t charge interest so I’m doing it :)

By: J. Money

J. Money — Mon, 27 Jan 2020 11:44:03 +0000

In reply to Papa Foxtrot. Probably better for a later stage in life too, like those already retired or nearing it and can't stomach the turmoil with the markets as much. Or those saving up for something in the more nearer term.

By: Papa Foxtrot

Papa Foxtrot — Sun, 26 Jan 2020 14:38:58 +0000

Bonds are rarely good investments.

Bonds have very small growth for investments compared to others and it would be far better to invest in stocks or higher growth assets despite the risks, especially if you are investing for over 10 years. Some bonds are ok like in balanced funds which allocate risk and diversify a little. For instance, I have a balanced fund which invests in stocks and bonds. The bonds are frequently high yield and they are invested in to allocate risk for the international equities in the fund. Despite having bonds in this fund, my fund’s returns very closely matches the gains of the S&P 500 and it does not drop as much as the S&P 500 during corrections.

Every other bond was cashed and put towards something else that will have impact my net worth more.

By: J. Money

J. Money — Tue, 21 Jan 2020 19:40:53 +0000

In reply to Leila. Work it!!