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Question of the Week: What Are the Most Important Takeaways of Personal Finance?

J.D. from Get Rich Slowly recently released his book, Your Money: The Missing Manual. I'm pretty excited to read it and aim to do a review of the book soon. Anyway, let's say you were writing your own personal finance book to pass along to your friends and family as a guide which would cover the most critical aspects of personal finance. What would you include in the book? What are the major takeaways from the personal finance world?

Next week I'll be presenting my own answer to this question. I'll share what I believe are some of the core tenants of personal finance. I'll call this series of posts, The Key Takeaways of Personal Finance.

But before I get rolling with this series, I want to hear from you in the comments. What are your most important takeaways of personal finance? Feel free to just list one or spell out everything that you think is important.

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Last Edited: July 26, 2017 @ 6:04 pm
About Philip Taylor

Philip Taylor, aka "PT", is a former practicing CPA, blogger, podcaster, husband, and father of three. PT is also the founder and CEO of FinCon, the conference and community dedicated to helping other financial influencers and brands. He created this website back in 2007 to share his thoughts on money, hold himself accountable, and to meet others passionate about moving toward financial independence.

PT uses Personal Capital to keep track of his financial life. This free software allows him to review his net worth regularly, analyze his investments, and make decisions about his financial future.

PT keeps a portion of his emergency fund in Betterment, the automatic investing tool that makes investing super simple. Betterment focuses on what matters most: savings rate, time in the market, investing costs, and taxes. PT recommends this service to anyone looking to get started investing for themselves.

All the content on this blog is original and created or edited by PT.

Comments

  1. These are not absolute tenets of mine, but they are guides.

    (i) When investing, the most important features are IRR, NPV, and the payback period.
    (ii) When determining if it is best to refinance or payoff a loan or other payable, use the two-year rule. If the additional cost is more than two years of savings, you’ll have remorse.
    (iii) If you do not micro-manage expenses, you will have macro-problems.

  2. Kristine says:

    In my life, I have learned that the greatest place you can invest in is in yourself. Yeah, I know..sounds airy fairy. But, when you depend so much on so called “experts” and don’t know exactly what it is they are doing…who is the one who is ultimately responsible for the investment? It’s me. There is no power in displacing your responsibility to someone else. Looking forward to hearing your takeaways on personal finance. 🙂