Quick and Easy Personal Finance Tips

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.