Madison MoneySports - Personal Finance Thread

[WRXtranceformed]

The mechanic analogy is pretty spot on. Some people just don't have interest in dedicating time and brain power to money management. Sometimes mechanics upsell you, sometimes they save your ass from a costly mistake or get you a deal on parts. I have no desire to work on my car so I'll pay someone else, but I'll follow my money like it's going out of style.

I think Lee and I have compared rates of return and they're within 1%... but not everyone is going to have the same discipline. My mom wanted me to help her with money after her divorce and I told her she needed to pay a professional. I'm okay managing my money closely, but I am not at all interested assuming that risk for someone else. She'd never be able to self manage effectively, so it makes sense for her to pay a mechanic.

100% 

The biggest thing though Taylor is to just control your spending.  If you can't stop spending, you can't save.  This is true no matter what your income level is.  I would focus on that first, build up your nest egg and take that time to research what makes the most sense for you while that grows.