Debt Management Investing

One Financial Advice To Rule Them All

It is right there, under your nose.

If you are born poor, it is not your fault. But, if you die poor, it is your fault.

Bill Gates

Safe to say that there are heaps of financial wisdom out there. On the one hand, people will share undeniable facts about money management and creation with you. But, on the other hand, there are financial tips so questionable that you would not take them seriously.

There is no shortage of information on the internet, Just a few clicks here and there, and everyone fools themselves into thinking that they know precisely what they are talking about. A handful of these individuals are professionals, but a significant number of them are communicating purely from their personal experience and from a limited perspective that may not be relevant to the topic of conversation.

Given the infinite amount of information on the internet, it is not surprising that there are virtually hundreds, if not thousands, of websites and blogs dedicated to educating people worldwide on how to create, maintain and manage your financial portfolio.

The trouble is, financial gurus have different perspectives about specific money-related topics. For instance, the “renting versus buying” dilemma has attracted many different opinions. You have some financial websites that insist that buying a property is a no-brainer. On the other hand, others say renting is a more cost-friendly option. This shows that today, obtaining information is not the problem; the problem lies in the fact that we human beings are overwhelmed with too much information.

The mixed views about money can be disorientating, and what works for some people may not work for others. Hence, how do you know which advice suits you, and how can you tell separate individuals who are giving you fine pearls of financial wisdom from those who are encouraging you to pursue spending habits that will eventually leave you in poverty when you are in your retirement years?

Taking everything I know from all the personal finance books I have read, I have discovered the secret to long-term financial security, and I like to share it with you.

Are you ready? Here it comes.

Your finances are your responsibility.

This may seem like common sense and ridiculous. However, if you pause and consider this long enough, it is the best advice to follow when handling your dollars and cents.

Think about this:

1. If you are not going to take care of your money, someone else will.

If you do not pay off your debts, the lenders will chase you down. If you live beyond your means to sustain a lifestyle beyond your reasonable needs, the debt life will eventually house you. You are just one financial disaster away from a dry bank account if you do not pay yourself first.

2. What works for one may not work for the other.

Everyone has their own unique set of personal financial statements. I say “unique” because everyone sees money differently in terms of value and risks. Therefore, investing is a very personal plan.

If you let your money sit in the bank, you would not get a return. Moreover, the value of your pile of cash erodes over time thanks to a thing called inflation. That said, if you are closer to retirement or need a portion of your money to feel secure, it may not be a great idea to put your money to work through investment.

3. Do not be fooled. Boost your financial literacy.

If you are not careful with your money or making financial choices that kill your potential to secure financial security in the future, it may be because you have no idea what is unfolding right under your nose. You know what? That is perfectly understandable because even a simple discussion can evolve into a complicated one when money is involved. Generally speaking, subjects about money can be challenging to navigate and drain your mental energy. Ultimately, however, it is your responsibility to know the ins and outs of your financial portfolio.

Read a personal finance book written by a reputable author (Rich Dad, Poor Dad by Robert Kiyosaki is a good starting point) and learn something about the value of money. Performing something each month to expand your financial knowledge is not a responsible decision; it is the best investment decision you can ever make in life.


You may search far and wide, high and low, for the ultimate financial advice. However, once you reach the end of the road, you will still face the reality that your finances are your responsibility.

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