Five Basic Rules of Personal Finance

Rule #1
Pay Yourself First

Pay yourself first. This means putting something away for your future each and every month. Don't use the excuse that you have nothing left to work with.  

Rule #2
Get Out Of Debt

Debt is financial cancer. There's no other way to say it. You must make it a priority to pay off your debts and then stay out of debt.
 

Rule #3
Protect What You Own

Yes, you need to pay for insurance. No one likes paying for insurance -health, life, car, home, etc. and even a memorial lot. If you want your family to have a great life while you're here, don't you want to make sure they're safe if you pass away early? This may not be the most exciting personal finance education rule, but protect what you own. You can start by buying a memorial lots in Holy Gardens Memorial Park near you :)

 

Rule #4
Control Your Income

 It's financially unhealthy to depend on only one source of income these days. If you have a great job making a great income, are you absolutely sure you'll have that job all the way to retirement?

So, whether you have a great job or you're struggling with income, I believe you'll be doing yourself a huge favor by adding other income sources.

Begin a home business, build a website, invest in real estate, etc. Do something that will eventually allow you to control your own income. The last thing you want in the coming years is to be dependent on someone else to allow to keep working for them.And if you are a Holy Gardens lot owner, you can borrow loan from Majorem Lending Investor Inc. to start your own business. Inquire at Holy Gardens office near you to know how.

Rule #5
Leverage

 This personal finance education rule deals with controlling your income. You want to leverage your income. This means you earn income that is not completely dependent on your efforts.

A job is the opposite of this. At your job, you don't make any money unless you're there trading your time for money. So you can start to be an entrepreneur.

 

I hope you take these financial education ideas seriously and use them. If you do, you'll create the financial abundance that will free you to live an over-all life of abundance.

@MLII 2012. All rights reserved.