Let's Talk About Money #1
By Jim Bauer
@porwest (91092)
United States
June 21, 2018 4:48pm CST
If there is one thing I love to do it is to talk about money. Even more, I like to offer my ideas about how to save money, how to invest money, ways to get more out of a buck, and offer tips about the same.
I read a lot of discussions about people who are having difficulty one way or another when it comes to money. While I am not an expert, I do know a thing or two, and if I can share some of what I know and it can be useful in helping someone here, I am more than happy to share what I can, and offer advice when I can.
That is what this thread of discussions will pertain to.
It is a discussion, and so I am open to any questions on the current topic or others. I will try to be helpful where I can. But there are of course others here that might have an idea or two, and I am open to that as well...and perhaps even learning something myself from someone else that can be useful to me.
This post is of course merely an introduction. But if you have a question for me I can either answer it here, or use it as a segway of sorts to make the answer a part of a new discussion where I may have more room to share my thoughts.
This should be fun. Moreover, I hope it is useful.
15 people like this
17 responses
@porwest (91092)
• United States
21 Jun 18
I never mind sharing. Although, that being said, it is ALWAYS difficult for people to listen...especially when you deliver hard truths. The worst thing someone can say to me is "I cannot afford to save." The BIG answer to that besides an eye roll is "Yes you CAN!" 
3 people like this
@hillhjill (23717)
• United States
21 Jun 18
Thanks for the update, keep it up and let us know your ideas.
3 people like this
@hillhjill (23717)
• United States
22 Jun 18
@porwest That is what they say, money makes people happy, but I don't have any money to invest so I will just stay where I'm at and that's broke.
1 person likes this
@porwest (91092)
• United States
22 Jun 18
@hillhjill If you stick around me long enough, that won't be the case anymore. 
1 person likes this
@porwest (91092)
• United States
22 Jun 18
Happy to. If you ever have a question, just ask. I am happy to respond in whatever way I can. When it comes to money I want everyone to have lots of it. In part because I am an investor, and if people don't spend money or have money to spend, those investments are pointless. Besides, people are HAPPIER when they have more on the side and more to enjoy. 
1 person likes this
@porwest (91092)
• United States
9 Jan 23
Well, you know, I have been talking about money for years and I am not sure if I have helped a single person to figure it out. But I keep trying. I WILL keep trying. Wish you were around for some of those conversations these days old buddy. But in a way, you still are.
@andriaperry (116936)
• Anniston, Alabama
21 Jun 18
Okay Jim, lets just cut this short.
I have no money to invest, how can I get rich?
3 people like this
@porwest (91092)
• United States
1 Jul 18
@savin__a Saving is important, and I think you get that. The worst thing one can do is to rely on credit when they need something, especially an emergency. It just compounds the problem of not having money since not only do you have to pay the credit cards back, you have to pay the interest on top of that. People who do not have money, generally have poor credit as well, and so their interest rates are much higher than someone with more money and better credit. It's a conundrum for sure.
@porwest (91092)
• United States
25 Jun 18
@RubyHawk Getting rich is not hard, but it is not easy either. It definitely takes a LOT of discipline and you have to be on top of your money all the time. I remember telling a guy once who was really bad about his money who was VERY good at maintaining his vehicles and lawn mowers etc. He told me he did not have the time nor the inclination to worry about his money. I asked him, "Why do you put so much time and effort into your cars and other equipment?" He laughed, "Well, you want it to work when you need it, right? What good is any of that stuff if it is not there when you need to use it." I responded, "Precisely, and for the same reason money is no good if it is not there when you need it either." I am not sure if it ever changed his thoughts about money, but he could not dispute my logic.
1 person likes this
@simplfred (20641)
• Philippines
21 Jun 18
I'm more interested in ways to get more out of a buck before saving and investing.
2 people like this
@rsa101 (38166)
• Philippines
15 Aug 18
Yeah I guess that is one thing that many would want to talk more about this days. I think good money management is easier said than done. Sometimes making goals and strategy is so easy to set but hard to implement especially if your only source of it is your employment salary. Getting around and savings and investing should be practice but sometimes the expenses gets in the way to do all those things.
1 person likes this
@1hopefulman (45120)
• Canada
22 Jun 18
I'm retired and on pension and am given just enough to manage. So I'm careful that the money doesn't run out before the month ends. I hope some of the younger ones avail themselves of you expertise.
One thing that I did that served me well is that I never went into det. I used credit cards very wisely and carefully.
1 person likes this
@Marilynda1225 (82802)
• United States
22 Jun 18
Looking forward to hearing your ideas
1 person likes this
@just4him (317089)
• Green Bay, Wisconsin
22 Jun 18
Is it ever too late to save money? Do you have any tips on how a person on a very limited income can reduce spending, other than coupons? I've found the coupons offered are for things I don't use or eat, so buying such would be a waste of money, something I can't afford to do.
1 person likes this
@porwest (91092)
• United States
9 Jan 23
I am still here talking until I am blue in the face. lol. Sorry I missed this long ago comment. But as I always say, "I eventually get to them all." But I am sure I have also already answered this question in many posts that followed it, so why rehash old news? lol
1 person likes this
@JohnRoberts (109846)
• Los Angeles, California
22 Jun 18
Just basic learning financial responsibility and prudence. An ATM machine isn't a magical money machine. Careful with that credit card.
1 person likes this
@JohnRoberts (109846)
• Los Angeles, California
25 Jun 18
@porwest They can be used but carefully, prudently and responsibly.
1 person likes this
@porwest (91092)
• United States
25 Jun 18
@JohnRoberts Agreed. However, my thing is, if I have money in the bank what do I need to use a credit card for? If I DO use one it's a cash back reward card, I never carry a balance, and only use it for the cash back reward. If I don't have money in the bank to avoid using a credit card...I have to ask myself why do I not have money in the bank?
1 person likes this
@JohnRoberts (109846)
• Los Angeles, California
26 Jun 18
@porwest You have to have a credit card to purchase online. Airline tickets, things like that. Even when paying cash at a hotel on the road, a credit card number is required to hold a room. It's a necessity.
@porwest (91092)
• United States
22 Jun 18
The topics will be varied, and in no particular order. But in order to have a complete discussion about money, I think all, or most aspects of it need to be touched upon. For example, when talking about saving it is important to point out that simple savings, that is, putting money just into a savings account actually loses money and being able to explain why that is so, and what one can do to get their savings into a growth mode as opposed to a loss mode is equally important.
1 person likes this
@caopaopao (12395)
• China
22 Jun 18
Investment is an art, looking forward to sharing your knowledge with us.
1 person likes this
@id_peace (14005)
• Singapore
24 Jun 18
I am looking forward to the next chapter since I am very interested with money as well.
@BelleStarr (61102)
• United States
22 Jun 18
I am sure you will share some great ideas. We are comfortably retired because we saved when we were younger and working.
1 person likes this
