The 10 commandments for financial success: Follow these rules and grow richer
Filed under: Finance, Personal Finance, Education
Wouldn't it be nice if your paycheck came with an instruction manual? "After rent and student loan payments, you can spend up to $250 on fun this month!" Alas, managing cash is never so simple, and your meager salary — coupled with a brain that's hardwired to chase short-term rewards — makes saving and growing your money a lot easier said than done.
1. Know thy... budget
2. Get the right skills for the right price
3. ABS: Always Be Saving (10-20%)
4. Keep your cool in good times and bad
5. Buy a home because you want one, not as an "investment"
Young aspiring homeowners tend to overlook many of the expenses associated with owning a home that don't plague renters — which leads many of them to overspend on their first real estate purchase.6. Stay goal-oriented with every account
7. Buy some damn insurance
8. If you see a penny, pick it up
9. Nurture that credit score
10. Pay it forward