Financial literacy

None of this is expert advice. It's what people worked out for themselves, usually the hard way — what actually helped, and what they'd tell someone standing where you are. Take what fits and leave the rest.

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If you only read a few

Only put purchases on a credit card if you can afford to pay for them outright in cash at the time of purchase.
Being late on payments damages credit; if you cannot buy it in cash, you likely should not buy it.
2 people, independently
Compare nutrition labels using the per-100g column rather than serving sizes.
Serving sizes differ between products and may not match what you actually eat.
- If available
one person who lived it
Do your own research before trusting anyone's advice.
Survival bias means that being rich does not prove someone knows how to get rich.
one person who lived it
Monitor the weight or ounce count of packaged goods closely to detect shrinkflation.
Companies often decrease package sizes while keeping prices the same, a subtle change most people do not notice.
one person who lived it
Read the fine print of credit card contracts to understand when interest rates might spike.
People who do not read the terms are often surprised by rate increases after a few months.
one person who lived it

money, credit, people, often47

Consider getting roommates to split housing costs.

Check fruit-based drinks like smoothies and iced teas for added sugars or sweeteners.
They may contain more sugar than soda.
one person who lived it
Work out generic or store-brand options as alternatives to name brands that have shrunk in size.
Store brands are often comparable nutrition-wise, taste good, and are cheaper.
one person who lived it
Emphasize budgeting to improve your life.
It can make a difference in a person's life.
one person who lived it
Compare prices item by item between different grocery stores online and split orders between them to find the best value.
Local grocery stores can easily be two to three times the cost.
one person who lived it

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Pay credit card balances on time and in full while keeping utilization under 10% to get amazing credit.
Doing so results in amazing credit.
one person who lived it
Use credit cards for online purchases to protect against fraud.
If hacked, it is the company's money at risk, not yours; with debit cards, your money is gone and harder to recover.
one person who lived it
Calculate a specific hourly rate that supports your desired lifestyle to work out if job offers or opportunities are worth your time.
It helps you realize when you are losing money by accepting lower rates.
one person who lived it
Keep a record of your spending to improve financial planning.
It helps you become better at planning your finances.
one person who lived it
Focus on increasing income over cutting expenses when basic living costs consume most of your paycheck.
You cannot cut back on essential costs like rent, so budgeting alone may not cover essentials.
one person who lived it
Buy three units of a product when you need one to buffer against the brand discontinuing or changing the item.
It gives you more time before facing the frustration of replacement again.
one person who lived it
Read the entire label, including small print, rather than just the big marketing claims, to verify actual volume changes.
Products advertised as larger may actually be lighter.
one person who lived it
Check if smaller cereal boxes offer a better price-per-ounce than larger 'family' or 'mega' boxes.
One shopper observed that the small box was actually a better deal per ounce compared to medium and large options.
one person who lived it
Give a gift certificate so the recipient can choose their own jewelry.
The percentage of returned or exchanged gifted jewelry is very high due to mismatched preferences in size, style, or color.
one person who lived it
Add a child as an authorized user on a parent's credit card that is paid on time to help build their credit history early.
one person who lived it
Check resources to find the correct fit for menstrual discs before purchasing to avoid wasting money.
Fit is subjective.
one person who lived it
Create and strictly adhere to a monthly budget to successfully eliminate debt.
Failure to create or stick to a monthly budget is a primary reason people fail to manage debt.
one person who lived it
Get receipts for rent payments, writing 'payment towards' to protect your records against eviction if non-payment occurs.
Non-payment could result in an eviction record for you.
one person who lived it
Consider getting roommates to split housing costs.
Multi-bedroom units are not proportionally more expensive than single-bedroom ones.
2 people, independently
Do not rely on getting rich through a single lucky investment, as it is gambling rather than a teachable strategy.
Such success is often a happy accident that cannot be replicated.
one person who lived it
Treat emergency fund contributions as a fixed expense before spending any remaining money.
You should not spend money that does not exist after bills are paid.
one person who lived it
Buy items outright rather than financing them if you can afford it, to avoid paying extra interest.
Financing results in paying extra for interest.
one person who lived it
View financial advice as preparation for seizing opportunities when luck arises, rather than a guaranteed formula for wealth.
Good luck follows hard work.
one person who lived it
Link your bank account to auto-pay your credit card bill in full to maintain good credit.
one person who lived it
Avoid taking on credit cards during college if you have no income.
The temptation to spend exceeds the ability to repay, and lenders target students with zero income despite low expenses.
one person who lived it
Treat credit cards as high-interest loans rather than money, and limit purchases to amounts you can pay down immediately.
2 people, independently
Aim for financial independence to gain the flexibility to switch from high-stress jobs to enjoyable or flexible work, rather than retiring early and living frugally.
Retiring very young may require lifelong frugality, whereas FI allows for a less stressful second career.
one person who lived it
Negotiate the price when buying fine jewelry.
Sellers expect customers to haggle on fine jewelry items.
2 people, independently
Live with parents while studying to save a deposit for a home; delay moving out and major life milestones until financially stable.
one person reported this worked to build confidence in their financial future
one person who lived it
Read finance books regularly to become financially literate.
Reading was a game changer for building wealth.
one person who lived it
Educate yourself on money management to avoid falling into financial traps set by others.
Self-education prevents exploitation by those who may have poor financial knowledge or intentions.
one person who lived it
Be skeptical of financial gurus, as many make their money by selling advice rather than following it.
They are often grifters selling common sense and lifestyle discipline tactics.
one person who lived it
Sign your child up for volunteer activities, such as Girl Scouts or soup kitchen service, to expose them to people with fewer resources.
to build empathy and perspective on privilege
one person who lived it
Limit children's exposure to materialistic influencers and media that skew their perception of wealth and normalcy.
Watching highly curated influencer families can skew a child's view of the world.
one person who lived it
Be skeptical of YouTubers who attribute their wealth to frugality or standard investing if their actual success came from luck, timing, or the YouTube platform itself.
They are often 'YouTube people doing real estate' rather than real estate professionals whose advice generated their wealth.
one person who lived it
Wear clean and pressed clothes instead of fancy items and drive reliable cars like a Corolla instead of luxury vehicles.
They function just as well as high-priced alternatives.
one person who lived it
Consider convenience features like pre-cut produce useful if you are disabled or struggle with preparation tasks.
Cutting certain items can involve injury risks or be difficult for disabled people.
one person who lived it
Loan money to children for purchases, requiring repayment from their allowance, to simulate real-world debt and budgeting.
Teaches the mechanics of paying back loans and managing limited income against obligations.
- Children may misunderstand the transaction, thinking they already paid.
one person who lived it
Store jewelry with silica gel packets to prevent rust.
Silica gel absorbs moisture.
one person who lived it
Stop buying brands that engage in excessive shrinkflation as a matter of principle.
To avoid encouraging companies that do this.
one person who lived it
Verify information from online communities independently and think critically about sources.
You cannot trust what you see on Reddit without verification, even if some info is good.
one person who lived it
Recognize that chaos cannot be predicted, regardless of lifestyle or occupation.
Understanding this limitation is helpful.
one person who lived it
Be skeptical of 'new' or 'improved' recipe labels, as they often signal reduced quality, smaller portions, or inferior ingredients.
These changes are often used to reduce product size or replace better ingredients with cheaper alternatives like sugar instead of honey.
one person who lived it
Substitute generic cereals for specialized diet cereals if the nutritional values are nearly identical.
It saves money.
one person who lived it
Start teenagers with debit cards rather than credit cards to teach money management skills first.
Debit cards allow learning money management without introducing credit risk immediately.
one person who lived it
Consider online retailers like Blue Nile for jewelry to avoid brick-and-mortar markups.
Online purchasing avoids physical store premiums and often offers better return policies.
2 people, independently
Ignore ads promising wealth from trivial actions like playing games, answering surveys, or gig work, as these do not create rich people.
one person who lived it
Use a single credit card for almost all eligible purchases to consolidate tracking and simplify finance management.
Tracking finances becomes easier when nearly all purchases are recorded through one account.
one person who lived it

Microwave corn in its husk to simplify cooking and cleanup.
Cutting the bottom husk off and microwaving for 3 minutes allows the corn to slide out easily by shaking gently.
one person who lived it