I challenged myself to create a concise list for anyone who doesn’t like learning about money. A list that if one followed the rules, they could build wealth in their lifetime.
I limited myself to no more than ten rules and ten sentences. I wrestled with what to include. I added, deleted, and merged my way to these 6 timeless principles of money advice.
Here it goes.
- Pay yourself and your goals first by saving at least 10% of every dollar earned.
- Build an emergency fund of at least three months of expenses.
- To maximize investment returns, minimize taxes and expenses.
- Experiences last a lifetime, material items come and go.
- Let everyone else use debt to finance their purchases.
- Give money away to remind yourself that there are more important things in the world.
That’s all I have to say.
What timeless advice would you like to share?