Lessons I've Learned Along the Way

Lessons I've Learned Along the Way
  • Speak up. Stand up. Do not allow bullies to define you.
  • Do not put up with being bullied or harassed or violated in any way, emotionally, physically, financially.
  • Women are equal. Do not think you need someone else to make you whole.
  • Be yourself.
  • Do not be naive to think ìt ``won`t`` happen to YOU!!
  • Develop or educate you self to always have a skill that can pay you an income.
  • Dont just rely on anyone else to make your way in life.
  • Have an emergency fund. Save your own money.
  • Pay yourself first.
  • Do not rely on inheritance money for retirement. If you get inheritance money keep it separate in your own account.
  • When you start a relationship, have a net worth statement with back up of all your assets and liabilities.
  • Run a balanced cash flow.
  • Know the difference between your needs and goals and wants.
  • Live consciously.
  • Know your money personality and for sure know your partners.
  • Have your own credit cards and line of credit.
  • Do not use credit.
  • If you want joint credit you be the owner so you have control of limits.
  • Get insurance before you start doing any risky sports or travelling the world. Do not be naive to think nothing will ever happen to you.
  • Illness, disability, pre mature death. Always have some kind of disability plan.
  • Just because the bank qualifies you for an amount for a mortgage doesn’t mean it’s a balance for you.
  • Try to always pay extra on your mortgage.
  • Do not try to keep up with the Jones’
  • Live within your means. Cars depreciate, know the impact. Invest early.
  • Get educated and use a profession to coach you.
  • Join the matched group plan at work or their pension plan.
  • Set investment payments up automatically
  • Diversify - Have your own investments and learn to manage them with your own prodfessional.
  • Dont give up your power.
  • Put away for your kids education as soon as you have them. Do not wait.
  • Get a Will , Enduring Power of Attorney, Personal Directive.
  • Do not be afraid of doing a pre- nup, mid- nup or any contract if things don’t feel right.
  • If you start your own business be majority shareholder. If you have anyone else as partner including a spouse, have a buy sell agreement.
  • Pay attention to what`s coming in the mail.
  • Do your own tax return.
  • TRUST YOURSELF

Tagged as
Financial Mistakes
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