Financial Wisdom in 140 Characters or Less


Published April 11, 2012


Distilling your favorite piece of financial wisdom into 140 characters or less can be tricky. But if you can do it, you'll have likely pared that wisdom to its essence.

For Financial Literacy Month (April), personal finance blog recently asked its Twitter followers to submit their favorite pieces of money wisdom via tweets. Because of the space constraints of Twitter, the wisdom had to be to-the-point, so the result was the character-limited but knowledge-dense bits you see below.

If you too would like to share your financial savvy, please join the conversation on the GRS Twitter feed, and while you're there, have a look at the feed as well.

(Caution: Twitter-specific formatting ahead.)


Pick one financial goal to focus on at once. You'll get too overwhelmed if you try to do too many things at once.



Always pay yourself first.



Earning your way out of debt is much more effective than trying to save yourself out of debt. Second incomes FTW.



Enable online bill payment. Avg household can save $47 annually in postage, check reorder fees and pay-by-phone charges.



Tip: Track everything you spend money on for 30 days. It will give you a great idea of where your money is going & how to proceed.



Reduce recurring expenses (cable, cell phone, landline) to have a larger cash flow and remain flexible about financial choices.



Separate and name accounts based on spending needs and automate savings deposits and bill payments.



Make your first home purchase a 2 or 3 flat. Live in the smallest unit you comfortably can.



I bring lunch/snacks & tea from home to work. I get to be creative, healthy + I save $80/week.



Bike, bike, and bike some more! Reducing car expenses makes a HUGE difference in your spending. We biked to early retirement.



Check weekly ads at local groceries online and make a list. No need to print the ad. Take it to Walmart, they match local prices.



Twist on automating savings: Whatever the receipt says I save after shopping, etc., that amount goes straight to my bank acnt!



Give yourself a small allowance you don't have to budget or track. Makes it feel less depriving to track the rest.



Reply, reply, reply. Nothing helps you build and retain customers more than having a conversation with them.



Sleep on a big purchase. You may decide you don't actually need the item.



If you decide that now is the time to buy stocks, someone else believes that now is the time to sell. That's how markets work.



Steer clear of whole life insurance. I feel that insurance shouldn't be used as a savings vehicle because it has a terrible ROI.



The first step to eliminating credit card debt *has* to be building a small buffer emergency fund to handle life's little curves.



Don't go grocery shopping when you are hungry!



Save up two months' worth of expenses before moving out on your own. Use the IRS calculator early in the year.



Read customer reviews! Quality trumps inexpensive ten times out of ten.



Use community colleges for your first two years of school and save 1000s on tuition. Then transfer to finish a 4-year degree.



Keep it simple. The more complicated your financial plan, the more likely you'll screw it up.


More stories for Financial Literacy Month:

The financial wisdom of children

Quiz: Are you a good financial role model?

5 lessons an allowance can teach

7 ways to straighten your boomerang child

Money and puberty: Equally difficult topics for parents?

The original article can be found at
Financial wisdom in 140 characters or less