10 GOLDEN RULES OF PERSONAL FINANCE
- Don’t regularly spend more than what you make
- Your gross income is not what ends up in your pocket, that’s your net income so budget with that
- Pay the highest interest rate loan first, no matter how big or small the debt is
- Retirement is not a right, it’s a privilege you earn and save for
- Don’t borrow what you can’t afford to pay back, be it from the bank, government or family
- Buying a home (hard asset) is not the only or (sometimes) the best way to invest your money
- Thinking you can ignore your money for 40 years and have enough to retire is ignorant
- Saving money as early as possible gives you the best start in life; there is no magic to it
- Everyone is out to get your money, but it’s your responsibility to take care of it
- Overdraft is not ‘free money'; there’s no such thing as ‘free money’
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