Spending Your Money - it's your money

You can imagine when it comes to spending your money, there might be lots of people with ideas. Well, why not? It's your money, not theirs. So, it should be easy to think of how to dispose of it.

Don't let it happen. It's your money. You make the decisions based on your own money management plan.

Whenever someone starts preaching "you ought to do this, you ought to do that," I often think you ought to shut up.

I had a neighbor once tell me to "part with those bucks." He had absolutely no insight as to my financial condition, so I thought his direction to me was rather rude as well as presumptuous. I looked at him very seriously and asked, "What bucks are you talking about."

He got an embarrassed look on his face and walked away. It was abundantly clear to him that "those bucks" were my bucks, and it certainly wasn't any of his business whether I saved them, invested them, spent them or used them to light cigars.

He never mentioned anything about money to me again.

If you're seeking financial advice, it's one thing. When it's offered out of the blue, it's quite another.

The key thing to remember is consider the source. If the neighborhood ne'er do well offers you unsolicited financial advice, just let it go in one ear and out the other.

Sometimes people just talk. Sometimes they talk nonsense. Make certain you carefully consider the source before you listen to what anyone is saying, especially when it's about spending your money.

Unless they have a proven track record of financial success, their advice is probably worth just about what you paid for it.

Done with Spending Your Money, back to Mindset of Frugality