February 7, 2008

Twelve tips for saving

When you leave full time education you are told that the world is at your feet, but in reality what you were taught at school has not really prepared you for what lies ahead, and before long you wake up one morning and think “What have I done with my life?”

This particularly refers to the way in which finances are organised, like water money can run through your fingers and away into the ground, which is why there are some valuable lessons to be learned from other people’s experiences, here are a few points:

Stay in school. Don’t quit.
Money doesn’t spoil, it keeps. Start investing early.
Don’t buy the first house you look at. Buy the cheapest house in the nicest neighbourhood.
Establish the habit of living within a budget.
Learn how to negotiate a better deal on everything.
Keep your medical insurance in force at all times.
It’s quality of time at work, but quantity of time at home that matters.
Don’t listen to those who think there is a shortcut to wealth.
Make sure your spouse’s values line up with your own.
Learn how to network.
Never accept a job just because the pay is higher.
Trust, but verify.

Source [The Wisdom Journal]