Each week, we ask a personal finance or business expert for their money pro tips. This week we talked to Jeff Buehler, licensed Policygenius adviser.
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Last thing you resisted buying: AirPods.
How did you resist it? I already have two pairs of headphones. Do I really need another?
Last thing you splurged on: A trip to New Orleans.
Why’d you OK the splurge? I’ve been meaning to go there for too long now. I had to make it happen.
Current money goal: Save for a house.
How you’re working toward it: Putting 5% of each paycheck into a money market account.
Money thing you’re most proud of: Starting to save for retirement at age 22.
Best financial advice you ever got: Make a budget, especially once you start paying rent or a mortgage.
Worst financial advice you ever got: Day trading options is a good idea.
No. 1 money tip you give to people: Invest long-term when you’re young. You’ll thank yourself later.
What would you do with a $1 million windfall? Invest 95% and splurge on a European or Asian vacation with the rest.
How do you budget? I build an Excel sheet listing expenses, income and savings trajectories.
Money book, podcast or blog you recommend: Freakonomics.
Best money you ever spent: Tuition at Penn State.
Worst money you ever spent: Spending a bit too much on FIFA.
Credit or debit? Credit, 98% of the time.
Most common question people ask you about money: What should I do with excess cash?
Answer to the most common question people ask you about money: Don’t keep it in a checking or savings account, either invest in a low-risk exchange-traded fund or put it in a money market account.
Disclosure: This blog post is intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.
Image: Nastia Kobzarenko