Quick and Easy Personal Finance Tips

Posted by
2 Flares 2 Flares ×

Personal finance is not taught formally in elementary / high school in the U.S. and you can see the consequences in adult financial behavior:

  • Abysmal savings rate
  • High debt
  • Credit card dependence
  • Percentage of salary devoted to housing and other living expenses

But personal finance isn’t difficult as long as some basic rules are followed:

  • Live below your means
  • Save at least half of your salary (yes, it’s extreme but necessary)
  • Use only 20-23 percent of take home income for housing
  • Cars are poor investments
  • Do not eat out often
  • Live and spend time with like minded individuals 

There are other rules or tricks, of course, and some good sources include: The Simple Dollar, Millionaire Next Door, Two Income Trap and a series of very simple but effective video clips from accountant Scott Gutterson.

Related Posts Plugin for WordPress, Blogger...
2 Flares Facebook 0 Twitter 2 Google+ 0 StumbleUpon 0 Email 2 Flares ×
  • John Test

    Hi,
    Nice Blog!
    Best,
    John

  • Vincent Reyes

    Great advice Vin.

  • Pingback: Iurry Massimo