Posted on 06/09/2011 11:12:17 PM PDT by 2ndDivisionVet
I had the honor and privilege of attending the White House's first Personal Finance Online Summit on Wednesday afternoon. The event gave me and two dozen other financial journalists access to top administration officials, including a brief Q&A with President Barack Obama.
Much of the talk focused on the debt ceiling, the housing crisis and the job market. But during the give-and-take, there were a few nuggets of wisdom from the commander in chief that apply to everyday household budgets and regular folks planning their retirement.
Here are three tips from the president:
1. Don't spend all your money
When asked for his No. 1 personal finance tip, Obama said, "Don't spend all your money." He stressed that this is something he learned from his grandmother in Kansas and something he practices to this day.
Of course, Obama has a ways to go to make sure his Uncle Sam follows that advice, too.
2. Investing is different from spending
The president went on to explain that watching spending doesn't mean you pinch pennies. He cited how he and First Lady Michelle Obama plunked down $125,000 for their educations, including Harvard law school. But that was money well spent. He also mentioned a responsible mortgage for his family's home in Chicago.
"Some folks say that investment is just another term for spending," the president said. "There's an important distinction."
Some debt is unavoidable for those of us who aren't millionaires. Using that debt wisely can be very beneficial.....
(Excerpt) Read more at money.msn.com ...
#4 Spend the other guy’s money first.
1. Don’t spend all your money
Spend all of everyone else’s money instead!
Whose name is on the deed for the house in Chicago. I have read it is not Obamas.
I am going to add a humor keyword.
I thought this article was something out of the Onion or SNL! Incredible.
Reminds me of his personal “national medical emergency” flu tips to the citizens...cover mouth/cough into sleeve, wash hands.
I can’t believe this is a real article. But it is.
Yes, that is what makes it so funny and frightening at the same time!!
No wonder economic news is always ‘unexpected’. What a joke! And if he believed 0 was honest, I have a bridge I’ll like to sell that gullible idiot.
Using that debt wisely can be very beneficial.....
This must be the meeting I heard about where he was reading from notes...no TOTUS?!
This guy then goes on to call himself a journalist.............
The first comment after the article discusses this. Apparently there are three names in the Obama mortgage.
Thanks for the heads up.
This is the guy who couldn’t get his credit card to work to rent a car after his first speech at the DNC convention - there he was, their new big thing and his c/c was declined.
At least that’s what I read.
Oh, now I get it!
You’ll have to forgive the professor, he’s only visiting.
He may have plunked it down, but only after his Saudi buddy signed the check. Not sure who paid for hers.
Surely you realize that this means nothing for the Obama followers. You can’t say enough about the BS this President has stuttered,and yet the followers still follow. We only have to hope the smart ones figure this out and vote for someone with a brain. My biggest fear is who the Republicans nominate. This is gonna be a scary couple of years.
Poor Jeff Reeves, all agog and and excited to be near the "one"...
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