Some good financial advice…
I’ve recently stumbled on “Get Rich Slowly“, a blog about personal finances and the like. There’s some decent advice there for beginners in the financial realm. I don’t agree with everything there, but for the most part it’s solid, basic stuff that somehow most people still haven’t internalized. The most recent post is “10 Common Money Mistakes“. Check it out if you get a chance!
- Procrastinating. The best time to make any sort of financial improvement is now. The best time to start paying off your debt is now. The best time to start saving for retirement is now. The best time to start a budget is now. Mathematically, psychologically, and financially, the best time to start is now. Put compound returns to work for you.
- Spending more than you earn. Yes, the government deficit spends. You are not the government. Yes, there are lots of things that are tempting to buy. Yes, you could use credit to purchase them. Don’t. Don’t spend more than you earn. It’s only by mastering this fundamental principle that you’ll ever begin to accumulate wealth.
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