My One Money Advice (MOMA).


A blog I read quite often, A Penny Closer, just tagged me with the aim to get me to give “My One Money Advice”, which goes along with Moolanomy’s MEME from a little while back.

While it is difficult to pick one piece of advice concerning money, I guess the one thing I can offer to anyone is to avoid going into debt just to have “stuff”. I don’t care if you buy anything you want if you can afford it. I don’t care if you drive a $100,000 car if you can afford it. But getting into debt in order to get the approval of those around you is just plain wrong and can only lead to unhappiness somewhere down the line. Who cares if you don’t have the latest and greatest widget? It’s just stuff. And going into debt just to buy “stuff” is a fantastic way to ruin your financial life.

Take that for what you will, but that’s my one piece of advice…

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Comments (4)

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  1. Eric says:

    Great advice. “Stuff” can definitely affect your finances badly. Taking the time to think about a purchase, and planning for it so that you don’t have to go into debt to get it, usually means you wind up with a lot less “stuff”.

  2. Bo says:

    Time for the classic line: I’ve never seen a U-Haul behind a hearse.

    I don’t know much, but I know you sure can’t take any stuff with you when you die…

  3. […] My Two Dollars said, “avoid going into debt just to have stuff“ […]

  4. Fraktfritt says:

    Solid advice! Seems like half of our society is living to impress others on hock!