Best Money Tips, Great Investment Tips Ever. (final set)

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Adapt your skills and strategy

Darwin said it: You need to be adaptable. As it relates to your portfolio, if you regularly put money into your 401(k) or invest in mutual funds, you might have to change your strategy as the economic times change around you.

As it relates to your skill set, make sure you have a broad understanding of where the growth is in the job market, so you can apply your talents there. We are seeing different skill sets required. We are seeing traditional industries change. Some positions are leaving and aren't coming back.
-Maria Bartiromo

Be a good saver -- and credit risk

Live below your means and be frugal. The economy is going to get worse before it gets better. And folks who have savings have the best chance of getting through this.
-John Schnatter

Do the homework before investing

Unless you think you've done more research and have better insight on a stock than a multibillion-dollar hedge fund, why are you trading?
-Mark Cuban

Stick with what you know
Be patient. You don't have to be the first person to come into a promising investment.
-Thomas Atteberry

Expand your skill set

Many people who have been laid off start looking for a new job right away, but sometimes it's better to go back to school for additional training and education. When the economy does turn around, the opportunities are going to be there for people with new skills and additional bandwidth.
-Gwendolyn Sykes

Focus on your needs, not wants

We all have to learn from our mistakes of overleveraging ourselves and acting like 5-year-olds -- "I want four cookies." You don't need four cookies; you only need one. It's not about what you want, it's about what you need.

We all must reassess our consumer behavior. It's not good enough to live within our means -- we have to live beneath them.
-Liz Claman

Have faith that you'll persevere

You are more resilient than you imagine. And if you ever doubt that, remember the many people whose troubles were much greater than yours yet who survived
-Meir Statman

Image source: flickrr

Article source: cnn.com