April is Financial Literacy Month! What is the best piece of personal finance advice you use in your own life?

2023-04-24T14:08:01-04:00

Mine is before each paycheck, I track, review, and forecast my budget to understand my fixed needs and variable spending. This keeps me aware of how I am using my money, and lets me readjust priorities accordingly.

Response by COL Randall C. made Apr 24 at 2023 2:41 PM

2023-04-24T14:41:57-04:00

"Pay me now; Pay me later"

Anytime you get a pay bump, take 50% of if an enjoy it as a "Pay me now". Take the other 50% and put it into whatever future saving mechanism you chose (that's another discussion) as the "Pay me later".

Response by Maj Robert Thornton made Apr 24 at 2023 6:37 PM

2023-04-24T18:37:05-04:00

Never, ever carry a balance on a credit card. Pay the balance off at the end of the billing cycle.

Response by MAJ Ken Landgren made Apr 24 at 2023 10:38 PM

2023-04-24T22:38:46-04:00

Send wife to work!

Response by CPT Jerry Lucas made Apr 25 at 2023 5:11 PM

2023-04-25T17:11:22-04:00

Always pay yourself first. No matter how little, put something into savings every payday. Until 2.5 years into my retirement last year, I had NEVER taken a single cent out of any of my retirement savings accounts, except an inherited IRA where I had to take required minimum distributions. When I finally took my first retirement distribution, I actually felt guilty. I had over 40 years of putting money into retirements accounts, waiting for that very day.