Personal Finance Tips

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1. Make more money. You have to be able to make more money than you did last year. If you do this every year you work, you’ll end up ok.
2. Invest 10% of your paycheck before anything else. Use a company 401(k) or automatic investment into an IRA to automatically invest 10% of what you make for your future. Retirement will be the biggest purchase you will ever make, be sure to prepare accordingly.
3. Prepare for the worst. Don’t skip out on insurance and be sure to have an emergency fund. You should have disability, life, car, health, and home insurance. You also need to have at least 3-months worth of expenses in cash in a savings account as your emergency fund.
4. Track your money. Use one of the million free money tracking apps to find out what you are spending money on. You’ll find out really fast if you are spending money on bullshit or on things you actually value.
5. Be patient. Money does grow on trees, but trees take a long time to grow. Just keep watering that little hole in the ground and you’ll be good one day.
6. Don’t borrow money to buy anything that won’t make you money. Don’t buy a car with a loan, because cars go down in value. Don’t buy clothes with a credit card, because clothes go down in value. Unless you are purchasing real estate or a business, you probably shouldn’t borrow money.
7. Spend money. Life is meant to be lived. Spend money on what you care about. Travel the world, buy a nice pair of shoes, and go have a fancy dinner. Just be sure to pay cash.