3/9/2023 0 Comments Your moneymoney rulesYou really will be the culmination of who you spend most of your time around. I’ve saved myself many headaches from investing several hours of thought on a big decision. Whether in money decisions or life, take some time to think over your bigger decisions and again, consult your spouse or a trusted person. Which "money rules" would you add or subtract?įor any purchase over $200, consult your spouse first. And a backup plan (prepare for the worst). They will have the single biggest impact on your finances.Īlways have a plan. Prioritize spending your money on experiences, not things.įind and marry the right partner. Buy low-cost funds.Ĭut unnecessary reoccurring expenses and negotiate down all of your bills and payments. When you get a discount: you’re not “saving" money, remember that you’re still spending on something.īefore you buy a home: RUN THE NUMBERS and factor in the TCO, not just the mortgage cost. Cash out and reinvest in a more diversified portfolio at the end of each period (unless you work at Amazon or Apple). Max out your contribution to your company’s ESPP. Prioritize and max out your annual retirement contributions. And yes I realize that many of these are borrowed from/inspired by others (ex: my #9 from Ramit), but I think there are only so many personal finance principles that should be universally accepted. ![]() ![]() Inspired by Ramit Sethi, here are my top 10 "money rules" that I try to live by.
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