Every week, we ask our personal finance experts at Policygenius (and beyond) for their money pro tips. They spend all day helping people with money, so we figured they could share the wealth (PUN INTENDED). Want a sneak peek? Sign up for the Easy Money newsletter to see their answers ahead of time. Plus, you'll get a weekly dose of financial advice.
This week's expert is Jeff Buehler, licensed adviser for Policygenius.
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