Patrick at Cash Money Life asked me (and a number of other bloggers) to tell him or post about the first piece of financial advice they received. I am certain I received financial advice as a child, but frankly, don’t remember any of it at the moment. So I am going to talk about the first piece I remember, which was when I was starting college.
Fittingly enough, the first piece of financial advice I remember was from my dad. When I started college was also when I applied for and received my first credit card, and besides admonishing me to only use the card in an emergency, he told me:
Never carry a balance on a credit card from month to month.
This is advice that I did take to heart for a very very long time. And even when I strayed from his advice, I still heard it in the back of my head telling me to fix the mess I got myself into. I’m not sure exactly when I strayed from it as far as a timeline, although obviously I did, but I am back on track and will, hopefully, never find myself in a position that I will do that again.
What’s the first piece of financial advice you ever received? Share it with us and let our collective wisdom rule the internet! (Okay, maybe not rule the internet, but wisdom is good. )