What Financial Lessons are you Learning in 2017?

chiny

Simple is beautiful... probably; effective... can be. Usually it is worth spending the brain power to analyse what is on offer. That is why we are all here on MSE

I'm a fan of Occam's Razor which has stood the test of time against serious brain oomph. It is easily adapted (if indeed it needs adapting) to MSEry.

Flobberchops

1) Should have bought more company stock options when they were rock bottom. What comes down, must go up.
2) I'm a big believer in the idea that a task will expand to fill the time assigned to it. The same is true of budgeting - if you have money you'll spend it, if you don't have money you'll live without it and quite possibly not even miss it. I have two types of savings - my regular savers which are taken out by standing order the day after payday; and my ad-hoc investments which are whatever is left spare at the end of the month. Guess which pot is growing better!

Eco_Miser

Flobberchops wrote: »

1) Should have bought more company stock options when they were rock bottom. What comes down, must go up.

Tell that to the shareholders of Northern Rock or Bradford & Bingley, or many other failed companies.

Flobberchops wrote: »

1)
2) I'm a big believer in the idea that a task will expand to fill the time assigned to it. The same is true of budgeting - if you have money you'll spend it, if you don't have money you'll live without it and quite possibly not even miss it. I have two types of savings - my regular savers which are taken out by standing order the day after payday; and my ad-hoc investments which are whatever is left spare at the end of the month. Guess which pot is growing better!

The regular savers? But is that because you're saving so much in them, there's nothing left by the end of the month?

Personally, my spending has never depended on how much cash was available to me, except on those rare occasions when I'd just made a big purchase or investment and the cash was really minimal until the next inflow.

Cotta

luke623 wrote: »

1. Do not pay things monthly if possible. Monthly payments bring me down.
2. Continue to save money into LISA.

Is a LISA only of use to someone who wants to get onto the property ladder for the first time?

Malthusian

Cotta wrote: »

Is a LISA only of use to someone who wants to get onto the property ladder for the first time?

They are also of use if you plan on living beyond 60 - but only if you are already maximising your pension contributions and the benefits of employer contributions and tax relief and need somewhere to put another £4k of retirement savings.

Cotta

Malthusian wrote: »

They are also of use if you plan on living beyond 60 - but only if you are already maximising your pension contributions and the benefits of employer contributions and tax relief and need somewhere to put another £4k of retirement savings.

What are the returns on 4k per year saved in these? They cannot be accessed until 60?

badger09

Cotta wrote: »

What are the returns on 4k per year saved in these? They cannot be accessed until 60?

Well, that will depend on the underlying investment (s) :cool:

But the government's 25% bonus is .... a bonus;)

EdGasketTheSecond

Buy low, sell high.

Dird

YOLO. Stop being a stingy !!!!

Department budgets are so strange (good for me as there's a sudden rush to spend, spend, spend allowing me to go on 3+ training courses)

badger09

Dird wrote: »

YOLO. Stop being a stingy !!!!

:T:T:T. Posting from my balcony on an island in the Aegean:beer:

Department budgets are so strange (good for me as there's a sudden rush to spend, spend, spend allowing me to go on 3+ training courses)

Oh how I remember those days. What a farce:(