1. Have A Plan – Making financial decisions is made simpler when you have a plan, and it also keeps you on track to accomplish your objectives. If you fail to plan, you plan to fail.
2. Have A Budget – A tool that helps you keep track of your spending. It ensures you always have enough money for the things you need. A budget does not bind you; rather, it liberates you.
3. Understand Credit Cards – Credit cards should be used as a luxury, not a necessity. It is critical to understand that using credit and carrying debt are not synonymous.
4. Compound Interest – Simply put it is “earning interest on interest”. It will make any amount grow faster. He who understands it earns it; he who doesn’t pays it. (Albert Einstein)
5. Pay Yourself First – Saving money is non-negotiable. It’s not how much money you make, it’s how much money you keep, and how hard it works for you.
6. Read About Money – To succeed, you must read. Here’s a clue, you don’t know what you don’t know. Reading helps you make smarter decisions about yourself and your finances.
7. Be Generous – Generosity is the secret ingredient to financial success. Generosity breeds generosity; the “pay it forward” effect occurs. Being generous also activates the Law of Circulation, which governs the flow of giving and receiving.
