10 money tips that have enriched my life
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- Live below your means. If you spend less than you make, you’ll rarely experience financial stress.
- Buy needs, rarely wants. This is key to accomplishing the above.
- Follow a budget. If it’s not in the budget, make it wait. Oh, and regularly track your purchases.
- Keep an emergency fund. If you save extra, you’ll rarely experience stress over unexpected big purchases.
- Start investing early. Money doesn’t usually grow that much from month to month, but you can really see a big difference over years and decades.
- Carry no credit card debt. This is a great way to avoid paying high interest and earn hundreds of dollars a month in rewards cash or incentives.
- Have a good credit score. Pay a lot less interest for everything and be able to finance a home, car, or business loan.
- Buy a used car. This saves thousands each time. Better yet, drive it till it dies and repair it often.
- Don’t rely on a single paycheck. Look for ways to make extra money, even if that means selling things you no longer use.
- Avoid lifestyle inflation. As your income grows, avoid proportional increases in your spending habits.