On Money Management

Some of the best business people and professionals have a messy personal finances. The following tips and sayings are designed to help you avoid the pitfalls others have experienced.

Do NOT do the following.

1. Use credit cards instead of debit cards.
2. Pay credit card interest rates. (You'll be eating Alpo when you retire.)
3. Lease a car. Yes, you can trade it in every three years but you will never have anything to show or your money. You never got out from under the obligation (not good if you lose your job).
4. Borrow as much as you can on your mortgage. Rather leave yourself a little margin.
5. Spend more than you make. Why in the world would you do that?
6. Buy something because your friends have it. Do you need their approval that badly?

DO the following:

1. Give generously. ('When you give to the poor, it is like lending to the LORD, and He will pay you back.')
2. Tip generously.
3. Live within your means.
4. Pay yourself first on payday. Invest the money at a low-cost broker or into hard assets.
5. Vote for politicians who manage the country's finances wisely.

Wise sayings:

1. The blessing of the LORD makes a person rich, and he adds no sorrow with it.
2. One man pretends to be rich, yet has nothing. Another pretends to be poor, yet has great wealth.
3. A greedy person tries to get rich quick, but it only leads to poverty.
4. He who loves pleasure will become poor. Whoever loves wine and oil will never be rich.
5. The trustworthy will get a rich reward. But the person who wants to get rich quick will only get into trouble.
6. Do not wear yourself out to get rich. Have the wisdom to show restraint.
7. A stingy man is eager to get rich and is unaware that poverty awaits him.