Live data from Hacker News

Ask HN: What is the best financial advice someone has ever given you?

news.ycombinator.com

41–50 of 62 posts

Re: Ask HN: What is the best financial advice someone has ever given you?

#41
Never ever buy a property (a flat in my case) together with someone else. You should rather better offer to pay half the mortgage or have the other party pay you half the mortgage, but never buy together.

Of course I heard this and did buy a flat with my now ex anyway. I was lucky enough to manage to buy back the remaining half (burning basically all of my savings) but for a few months i was hunted by the idea of having to give up the place i worked so hard for.

Don’t… don’t do it.

Re: Ask HN: What is the best financial advice someone has ever given you?

#42

No joke: “Don’t buy stuff you can’t afford” - snl https://youtu.be/R3ZJKN_5M44?si=Ahdvgr3FNIOl40Q9 Literally changed my life

I was one of those, I used to tell myself that I could afford it, and well. i couldn't

to be honest that's why I created my app. just so I have a small "advisor" on if I should or shouldn't buy certain things.

in case you want to give it a look. https://www.producthunt.com/products/innerwallet

Re: Ask HN: What is the best financial advice someone has ever given you?

#43

That land is more valuable than money. Reminded of this while watching Lakota Nation vs United States. The Oceti Sakowin refuse the just-compensation settlement claim for the Black Hills; a people can live many generations on the land, while money is an intermediary and too easily lost.

Something I read a while ago that has stuck with me is that you can actually buy just two things: time and space. Everything else is made up.

Re: Ask HN: What is the best financial advice someone has ever given you?

#44
post #41

Never ever buy a property (a flat in my case) together with someone else. You should rather better offer to pay half the mortgage or have the other party pay you half the mortgage, but never buy together. Of course I heard this and did buy a flat with my now ex anyway. I was lucky enough to manage to buy back the remaining half (burning basically all of my savings) but for a few months i was hunted by the idea of hav…

Someone told me on another post. "don't get divorced", yours is a little bit more logical haha.

Re: Ask HN: What is the best financial advice someone has ever given you?

#45

Invest in skills that pay money and spend less then you make. Skills are key because they’re inflation-proof, and no person or government can ever take them away

Employers don't really care about skills, they care about paper that says you have skills (e.g. education, certifications, job experience).

You could monetize the skill yourself, of course, though that's just called being an entrepreneur.

Re: Ask HN: What is the best financial advice someone has ever given you?

#46
Before you invest in something, determine how that thing creates value. If you can’t determine how it creates value, it is most likely a short-lived scheme. Risk aside, it has also become a principle of mine that I refuse to try to generate income or gains from anything that, at the end of the day, isn’t generating real value for society.
Post reply on HN