Tuesday, August 4, 2009

8 Guidelines for Managing Your Money


1. Spend less than you earn.
Keep track of every penny you spend. Do not borrow money, unless absolutely necessary. It is preferable, of course, to avoid debt.

2. Pay yourself first.
Before you spend money, consider setting aside a certain percentage to save.

3. The perfect is the enemy of the good.
Don’t worry too much about getting this perfect the first time. If you want to begin investing, just do it.

4. Do what works for you.
There is no panacea for financial success. Different strategies work for different people.

5. Take it slow.
Success is not achieved overnight. My philosophy on this blog is one of a long-term and patient nature. Therefore, the content will be primarily aligned to that.

6. Failure is okay.
We learn a lot from failure. Check this video out. Famous Failures 

7. Money is more about mind than it is about math.
How you think about money will determine how successful you are.

8. It’s more important to be happy than it is to be rich.
Money gives you more options in life, but there is no correlation between happiness and money. Think about that.


Compliments of Get Rich Slowly. See here for full guide.

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