Zero to Finance Hero | Personal Finance Tips

Personal Finance. Budgeting. Investing. Sharing insights from my personal journey to financial independence from the beginning. Not certified financial advice.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@waronweakness 🍉

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@cadeinvests Should you be thinking about your IRAs as more of a set it and forget it kind of thing?

I’d prefer less risk.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@IAmClintMurphy The lack of ability to see past the immediate future

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@Budgetdog_ I keep thinking back to how ridiculous it is that this wasn’t required to teach in school.

Personal Finance should not be an self-learned adulting lesson.

High school kids are generating income from summer jobs/part time work. They should start learning PF then.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

Here is the framework I’ve been using to curb my spending:

- Is this an emergency?
- Is this something I’ll be using in a year?
- Why am I thinking about buying this?

Just asking these questions helps repress those spending impulses I used to feel.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@creation247 There is a stigma against asking for support when you need it.

It creates a lonely mindset.

You’re voice can’t be the only one you listen to.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@Budgetdog_ This is hugely true.

I had very poor spending habits and recently got a $50k raise. The spending habits continued until I took the time to setup a budget.

Using excel and apps like @notion have made budgeting easy to track and stay on top of.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

Finding the right bank to manage your funds is key.

I traditionally had Chase but just switched to @sofi.

The ability to create vaults and automated transfers is a major timesaver.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@BusinessFamous I am incredibly interested to meet the person that is a Starbucks-loving, cig-smoking, truck driver.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@FluentInFinance I experienced the negative side of this first hand!

It can be a tough conversation, but it's necessary. Aligning on your finances is how you align on your future goals together (house, kids, etc).

It's also a sign of communication, another important factor in a relationship.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

Undisciplined spending almost ruined me.

It drained my bank account and what it bought me was never truly worth it.

The ability to keep control that spending urge was the first key for me.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

Credit cards are good and bad.

The Good: They build credit and can come with solid rewards programs.

The Bad: They can create bad spending habits; they can put you into debt.

My learning: Only use a credit card if you know you are good for the payment now.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@investmattallen Directly into the stock market into long term holds.

Probably best to forget about this and continue living below my wage for now.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

I’ve recently started journaling every morning and this is helping with my finances.

I have a prompt: “how was your spending yesterday”.

This gives me the opportunity to reflect on the day before and it also primes my mind for the day moving forward.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@Budgetdog_ Probably hard to quantify because there is no plan 😉

But the cost has to be huge. It makes big financial decisions a pain and perhaps unattainable if they haven’t been planned for.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@SteveWagsInvest Happened to me. I almost lost my relationship over it.

But that moment really helped me take a step back and grow up. I used to think financial literacy and security came with time.

Now I know it does, but you also have to put in the work to be successful.

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@camp_wealth There are so many ways to measure it.

Financial independence is an independent goal!

Everyone is working towards what matters most to them

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@SteadyCompound Can it be more simplified than that?

- Stick to low cost Index Funds/ETFs
- Time in the market

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@FreedomFinLB I love this breakdown.

What do you mean when you say “taxable”?

[Zero to Finance Hero | Personal Finance Tips @ZeroFinanceHero]

@Smartnetworth1 I struggled with this hard! It took a couple wake-up calls for me to realize how bad it was.

But once I really woke up to it, then I started to get that same feeling again when I saw my saving habits improve.