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November is Financial Literacy Month, an initiative by the Feds to improve financial awareness among Canadians. A number of bloggers recently published their best financial tips. Many of you are already financially successful and many are just starting out. Let's hear from the ones who've been there and done that. What is your single best financial tip?
 

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Spend less than you earn. (but that's been said) so maybe my tip is part financial and part life.

Learn to enjoy and cherish things that are free, time with friends and family.
 

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On October 30th, I celebrated my 3rd year as a DIY investor, so I have not personally been doing it that long [others have done it for me], but my single advice, especially for the 20+ group, would be to start investing & paying debts early; the latter could be your best investment of all!

As we say, a picture speaks a thousand words:


 

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Buy a home you can comfortably afford.
And a car that you can also 'comfortably' afford!

A friend of mine was telling me how it took almost her entire family to convince her brother-in-law [recent immigrant], that he could not afford the house that he was entertaining buying. The reason why he had been in a rush to buy, was because co-workers had convinced him that it could be done based on his salary/down payment amount [because they had done it too].

Anyhow, he ended up agreeing with his family, but consoled himself by buying an expensive car instead. :rolleyes2:

Don't be a copy-cat would be another advice!
 

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I expect a lot of the advice here is going to be similar. One thing I will offer that is not directly 'financial advice' but can definitely have a big impact on one's financial future is to make a point with networking with people. I made it a new years resolution of mine to try to be more proactive in meeting people and building connections that might be useful in the future, and to invest more energy into strengthening the relationships that I already have. As a bit of an introvert this is a challenge for myself but I think it is important.
 

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Here is my $0.02 -
Find a partner/husband/wife that shares your personal finance ideals and approach.

Agreement and compatibility between the spouses is a big part of running household finances responsibly.
 

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Here is my $0.02 -
Find a partner/husband/wife that shares your personal finance ideals and approach.

Agreement and compatibility between the spouses is a big part of running household finances responsibly.
I guess a corollary to that would be, figure this stuff out early enough in life so that you don't inadvertantly choose a partner with whom you are financially incompatible.
 

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Harold and MG: yours are good ones. Most of this type of advice is self evident that everyone is aware of but not many follow. Really not very useful as a result.
 

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Here is my $0.02 -
Find a partner/husband/wife that shares your personal finance ideals and approach.

Agreement and compatibility between the spouses is a big part of running household finances responsibly.
As Gail Vaz-Oxlade says in Til Debt Do Us Part, Money is the number one reason people split up!

Mine would be "We only get one chance so let's make some memories" which is one way to spend. Spend on what will make lasting memories. Bad spending = bad memories.
 
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