|
I have a good paying job and have had one for years. When I first started making good money I still spent it as faster than I made it.
Lesson #1 Unless you control your spending habits you will always spend everything you make.
Make a budget for everything and live in that budget. Maybe I am a bit anal about it but I can go back and tell you how much I spent on each budgeted item from as far back as 1993. Quit trying to keep up with the Jones's next door.
Lesson #2 Earning intrest on you money is good Paying intrest on your belongings is bad. With the exception of a home. Mortgage money is cheap money and is not a bad form of debt.
Don't get suckered into the cycle of owing on your credit cards. Get 1 or 2 cards and pay them off every month. Also try to get some form of rewards card. Myself I use Capital One for the Air Miles.
Lesson #3 Go get the book the "The Richest Man in Babylon" And follow those principals. Which is basically 10% of everything you make is yours to keep. That 10% should end up working for you making you money. You have to save to get ahead.
|