#1: Do not spend money. Invest money. Most people, when making a purchase, ask all the wrong questions. For instance, when buying a new pair of shoes, do not ask how good they look or what brand they are. Ask how long they’ll last, and in what kind of weather, and what the warranty is. If you get a good pair of warm waterproof boots with a lifetime warranty, they could literally be the last pair of boots you’ll ever need to buy. It is much better to buy a $400 winter jacket which will last you 20 years than a $200 one which will last you six. And both of those are better than the $1000 one which will be out of fashion in three. In other words, there are financial ramifications to every spending decision you make. If you buy an iPhone, will you also need a case for it? How expensive is the data plan? If you buy a house, how will that impact your taxes? What is the resale value looking like? #2: A dollar saved is $20 earned This one is pretty simple. If you put $1 in an...
Tips for leading a successful life