Tips from financial philosophers

Earlier this year, we asked consumers to submit their best money management tip for inclusion in a desktop gadget. I was surprised to see how many financial philosophers there are out there! It is great to be reminded that no matter how complex our financial worlds become, some basic rules still apply.

Here are a few of my favorite words of wisdom:

Turn off the TV and balance your checkbook!
Suzy Z, Herber City

More is not always better.
Jeff K, Denver

Pay yourself first.
David S, Houston

Be patient. Watch the pennies and the dollars will follow.
Ann R, Salt Lake City

Simply, live below your means. It's hard to go wrong if you just live simply.
Kim F, Baton Rouge

Set a good example for your kids. They'll likely form their thoughts on money by watching how you spend yours.
Tex D, Richmond

If you've made a bad financial move, fix it - don't feed it!
Brett T, New York City

Take action. All the tips in the world won't matter if you don't use them.
Lizzy B, Queens

Click here for more information on Financial Literacy Month.

Kim McGrigg is the former Manager of Community and Media Relations for MMI.

  • The Consumer Federation of America (CFA) is an association of nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education. Today, nearly 300 of these groups participate in the federation and govern it through their representatives on the organization's Board of Directors.

  • Since 2007, the Homeownership Preservation Foundation (HPF) has served as a trusted, neutral source of information for more than eight million homeowners. They are partnered with, and endorsed by, numerous major government agencies, including the U.S. Department of Housing and Urban Development and the Department of the Treasury.

  • The mission of the U.S. Department of Housing and Urban Development (HUD) is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD works to strengthen the housing market in order to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; and build inclusive and sustainable communities free from discrimination.

  • The Council on Accreditation (COA) is an international, independent, nonprofit, human service accrediting organization. Their mission is to partner with human service organizations worldwide to improve service delivery outcomes by developing, applying, and promoting accreditation standards.

  • The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.