Comments on: Could too many financial products be ruining your finances? Part 2

By: Financial Literacy Update #1 | Balance Junkie

Financial Literacy Update #1 | Balance Junkie — Sat, 20 Nov 2010 19:46:37 +0000

[...] have figuring out which is the best for their needs. The preceding link will take you to Part 1. Part 2 is well worth your time as [...]

By: Preet Banerjee

Preet Banerjee — Sun, 14 Mar 2010 13:15:37 +0000

Thanks for the link.

By: Blogs In The Personal Finance World: Weekend Financial Roll Call :: Ending the Rat Race

Sat, 13 Mar 2010 22:40:26 +0000

[...] Thicken My Wallet published, “Could too many financial products be ruining your finances? Part 2“ [...]

By: The Rat

The Rat — Sat, 13 Mar 2010 18:10:05 +0000

I agree with 2cents in that you place emphasis on the importance in putting a plan in place first. Too often, investors put their hard earned dollars in various places without having a personal policy statement or plan that includes one’s target asset allocation. Plan before Product.

Nice post.

By: Debt Elimination - Financial Power

Debt Elimination - Financial Power — Fri, 12 Mar 2010 21:27:25 +0000

Too many financial products will ruin your finances! without a question..look at debt for example, having 10 credit cards will ruin your finances for sure. I believe in diversification,but not in having 10 different portfolios (not until you reach some reasonable amounts). I always suggest having a goal, then a plan how to reach your goal and that will help you choose the right financial products.

By: 2 Cents @ Balance Junkie

2 Cents @ Balance Junkie — Wed, 10 Mar 2010 15:31:00 +0000

Excellent information. I love the idea of putting the plan first and the product second. Aligning our money goals with our life goals is essential. After all, money is just a tool and not a goal in itself. The KISS (Keep It Simple Stupid) philosophy should be part of any plan, especially for those with smaller portfolios. Frequent review is also a good thing, provided that reviewing doesn’t mean too much tinkering. Thanks!