1. Never spend more than what you are making
The quickest way to building an avalanche of debt is to spend more money than you bring in. If you cannot pay cash for something, then the reality is you can’t afford it. Please get in the habit of paying cash, although, in our plastic society, that could mean charging it on your credit card then transferring the cash right away. Studies have shown that you areYou think you have time, but it will backfire on you if you keep putting it off. Start now and invest in your future.
The finer things in life, the luxury items that we all work for, can come later in life. A smart and disciplined person will invest in their future earlier, build their principal investment, and live off the interest. That is the meaning of having your money working for you.
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