There are basic principal’s that anyone can follow to be financially stable and responsible. These are not new and I certainly did not make them up or create them. As a teacher that teaches a class about personal financial literacy I apply basic learning principals’ that my students can take into life and be successful with.
1- Cash is king. Save and pay cash for everything you can including major purchases if possible.
2- Save 15% of your paycheck by taking away the small things that make up that amount (fast food, eating out, movies, etc).
3- Pay now so you can play later. This is a simple concept that says that you need to be frugal and intentional with your earnings to save as much as you can while in your working years. Once you retire, you can them spend it as needed and enjoy the fruit of your labors.
4- Limit credit debt and credit card usage. Do not become a slave to the credit card companies and owe them interest on simple purchases. Refer to #1.
5- Invest in stable markets and investments that will grow over time. Stick it back and watch it grow.
6- Know the differences between needs and wants. As I say to my kids all the time. “I like my money in the bank and not on my feet”. They walk around with $300.00 shoes and I love my $75.00 sketchers that are comfy and will grow the other money in the bank.
7- Always have an emergency savings of $1000.00. If it gets depleted, then put it back to $1000.00.
8- Do not waste money on dream cars, dream homes or dream vacations you cannot afford. If you cannot afford a 5 day trip to an all inclusive in the Bahamas then take a three day cruise to the Bahamas.
9- As my parents told me many times, “It is not what you make, but what you do with what you make”.
10- Lastly, give to the church and other organizations that help people. The Lord, will return it in blessings in financial and other ways. Be of good spirit and help spread the light and the money will follow.
Coach B
Heavenlynotice.com/feed/ 
Leave a comment