1. Make a Budget — Write down everything you need, want and dream of having then set aside realistic parameters and keep within it. Figure out how much you actually have in your hand after taxes and fees etc then you know how much you really have to work. Housing, car, phone, internet, utilities,food are your only necessities.

2. Credit cards need to be paid off at the end of every month. IF you cannot pay off a bill in full each month then credit cards are not for you, cut them up and pay cash. Cash is king! My dads best friend is still paying off his 2nd wifes credit card bills from 15 years ago, with interest she owes over 60 thousand dollars.

3. Gambling is moronic, do not ever do it. The house always wins, nobody truly wins you just do not hear about their losses, only their winnings. Poker was very popular for a while and lots of my parents friends got into poker in the 90’s. Not a single friend actually make a cent.

 

4. Live under your means. If you can qualify and afford a 2 million dollar mortgage it does not mean you need a 2 million dollar house. There is no need to keep up with your friends and have all the nifty new things your neighbors have, they are probably in debt. You will sleep better at night in a home that’s less than half of what you can afford.

5. When you pay off a car keep putting that money in the bank until you can buy a new car with cash. Do not buy a new car every few years you waste so much money the moment you drive off the lot. All cars are used in a few weeks anyway if worse comes to worse you can buy a “new car smell” hanging deodorizer.

6. Don’t buy a boat, RV, ATV or motorcycle. You can rent them cheaper and then hand them back. You will never use them as often as you think. Boat stands for bring on another thousand. Dada friend has a huge boat but he never uses it because he works so much to pay for his big boat.