The Simply Luxurious Life®: Guest Post: 30 Things I Learned About Finances  

May 13, 2011

Guest Post: 30 Things I Learned About Finances

I am so happy to introduce you to a fellow blogger who inspires me every day when it comes to style, living a life of your dreams and being financially independent. Tiffani is a personal stylish living in New York City and is the entrepreneur behind Living Chic personal stylish services as well as the author of the blog Accidental Chic. The list of financial advice she has generously shared with The Simply Luxurious Life readers is something I myself will be printing and posting on my inspiration board. Have a look.

I am excited to be able to contribute to The Simply Luxurious Life’s 'Financial Food For Thought'. A passionate lover of fashion and design living in NYC I knew I had to educate myself on personal finances once I graduated from Grad School back in 2007. I was determined to be smart with my money and start off on the right foot. I find personal finance fascinating because you can tell a lot about a person by their relationship with money.

Last month I celebrated my 30th birthday in Paris, France. This has been a goal of mine since I was 27 years old. Yes, I'm a planner. However, I can't express how liberating it felt to have this amazing life experience and not worry about putting it on a credit card since I had been saving for years. Therefore, I would like to share the wisdom I have learned since taking hold of my finances in my twenties. 

30 Things I Learned About Financial Chic Before I Turned 30

  1. Passion is everything; the money will follow.
  2. Savings = FREEDOM
  3. It's never too early to start saving for retirement.
  4. Pay off your credit card balance each month.
  5. Cash is KING!
  6. Aim for a 720-800 credit score.
  7. Never defer you student loans, especially private loans.
  8. Sleep on big ticket purchases.
  9. NEVER co-sign a loan for anyone. We're all responsible for our own finances.
  10. Make a financial date once a week with your finances. Wine, tea - anyone?
  11. Buying expensive designer clothes, bags, jewelry on credit is NOT chic. 
  12. Time is money.
  13. Aim for an 8 months emergency fund, the future is not predictable or promised.
  14. There's nothing more attractive than a woman/man with their finances in order.
  15. Whenever shopping, make a list!
  16. Check your credit score & credit report once a year.
  17. Set up a savings account with a high interest online bank, you'll be less tempted to take out the money since it is not accessible to an ATM.
  18. KNOW YOUR WORTH!!!
  19. Surround yourself with like-minded money people.
  20. Start a money group.
  21. Suze Orman and Carmen Wong Ulrich are great financial gurus.
  22. Never, ever marry for money. You'll get exactly what you deserve...
  23. Be open to talking about personal finances and educate those around.
  24. Don't be afraid to say 'no thanks' to social obligations that will put you in debt.
  25. Did I mention cash is king?
  26. Continue to educate yourself on personal finance. Unfortunately, we have a lot to learn since we were never taught this in school.
  27. Life is meant to be enjoyed, don't let poor financial decisions put a damper. It's never too late to turn it all around.
  28. Buying a home does not mean financial freedom or the American dream for everyone. Stop trying to keep up with the Joneses, everyone's situation is different.
  29. There's no way to balance work and play, your work should be play!
  30. True wealth is not the consumption of material possessions but the ability to fully experience life.

{Tiffani is a NYC-based Fashion Stylist, Creative Director of LIVING Chic Style, Inc. and also inspiring you to live a fashionably beautiful life through her blog ACCIDENTAL Chic.}

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8 Comments:

At May 13, 2011 at 11:51 AM , Blogger Apt. #34 said...

such great advice!

 
At May 13, 2011 at 12:41 PM , OpenID besswess said...

These are great tips. I love reading lists like this every so often. You helped me not buy the pair of Betsey Johnsons. Thanks. :)

 
At May 14, 2011 at 8:36 AM , Blogger Jaja said...

I wish my mother would have told me this when I was 16, working my first job. Came from a conservative family where my father controlled all the finances, even her paycheck.

 
At May 15, 2011 at 6:20 AM , Blogger Carrie said...

What a great post, great advice Tiffani!

 
At May 15, 2011 at 5:43 PM , Blogger Ms. Tiffani said...

Thanks everyone for the feedback! I'm so glad others can benefit from what I learned. Look forward to many more guest posts. xo, Tiffani

 
At May 15, 2011 at 6:20 PM , OpenID jessj said...

This is WONDERFUL advice, especially for a twenty something just coming into her career. I want to frame it and put it on my wall LOL

 
At October 7, 2012 at 1:13 PM , Blogger bottomline said...

List #28 really makes sense to so many people.
I have a lot of friends who regret buying the homes they can't afford.

 
At March 6, 2013 at 3:07 AM , Anonymous Anonymous said...

It's good to see a list like this. It's so true that we don't get taught financial knowledge at school. This is such a problem because not only do most people not understand finance, but there are so many influences claiming that in order to be an "adult", one needs to incur debt when prudence and common sense(which is not actually inborn) tells us the above rules are what we should aim for and carry out in our lives. I think many people know it or get a niggling feeling, but the pressure of seeing gratification around them or the advice of getting debt is okay makes them suppress that inner voice. Thankfully, here is a concrete list that shows what one thinks would be wise is wise!

 

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