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THE RULES OF THE GAME

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• 1 – Save long enough for big purchases (car, house) so that payments plus all other expenses don’t go over 50% of net monthly income. Save the other 50%
• 2 – Never EVER carry a credit card balance (unless it’s an emergency)
• 3 – Every time you get a raise, automatically direct the difference to a savings/investment account
• 4 – Understand the difference between a want and a need and try to indulge in fewer ‘wants’
• 5 – Cut back spending on monthly expenses like cable, internet, insurance, etc. (look at $25/month auto insurance from Insurance Panda, for example)
• 6 – Buy healthy foods and avoid excessive eating out. Pack your own lunches
• 7 – Focus on accumulating assets. Note:  A car is not an asset. Better if they generate cash flow.