Money Pro Tips: A Q&A with Licensed Adviser Jeff Buehler
Each week, we ask a personal finance or business expert for their money pro tips. This week, we talked to Jeff Buehler, a licensed adviser. Here's a look at how he manages his finances and his best advice for others.
Last Thing You Resisted Buying
Q: What was the last thing you resisted buying?
A: AirPods.
Q: How did you resist it?
A: I already have two pairs of headphones. Do I really need another?
Last Thing You Splurged On
Q: What was the last thing you splurged on?
A: A trip to New Orleans.
Q: Why’d you OK the splurge?
A: I’ve been meaning to go there for too long now. I had to make it happen.
Current Money Goal
Q: What’s your current money goal?
A: Save for a house.
Q: How are you working toward it?
A: Putting 5% of each paycheck into a money market account.
Money Thing You’re Most Proud Of
Q: What money-related achievement are you most proud of?
A: Starting to save for retirement at age 22.
Best Financial Advice You Ever Got
Q: What’s the best financial advice you’ve ever received?
A: Make a budget, especially once you start paying rent or a mortgage.
Worst Financial Advice You Ever Got
Q: What’s the worst financial advice you’ve ever received?
A: Day trading options is a good idea.
No. 1 Money Tip You Give to People
Q: What’s your number one money tip?
A: Invest long-term when you’re young. You’ll thank yourself later.
What Would You Do with a $1 Million Windfall?
Q: What would you do if you received a $1 million windfall?
A: Invest 95% and splurge on a European or Asian vacation with the rest.
How Do You Budget?
Q: How do you budget?
A: I build an Excel sheet listing expenses, income, and savings trajectories.
Money Book, Podcast, or Blog You Recommend
Q: What money book, podcast, or blog do you recommend?
A: Freakonomics.
Best Money You Ever Spent
Q: What’s the best money you ever spent?
A: Tuition at Penn State.
Worst Money You Ever Spent
Q: What’s the worst money you ever spent?
A: Spending a bit too much on FIFA.
Credit or Debit?
Q: Do you prefer credit or debit?
A: Credit 98% of the time.
Most Common Question People Ask You About Money
Q: What’s the most common question people ask you about money?
A: What should I do with excess cash?
Q: What’s your answer to that?
A: 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.
Want more money pro tips?Check out our finance blogs.
Description: A person reading financial tips from Jeff Buehler, a licensed adviser, reflecting on their own money management strategies.
