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The Use Of Money Improves Society | Adam Smith Wealth Of Nations

Posted by Jim on Jul 25th, 2012 · 0 Comment

Money is a unit of exchange that we take for granted. We grew up seeing coins and bills, fingered a few when we earned allowance at home, counted out more paper when we cashed the initial check from our first job, and still like its feel when we sell something to someone and demand cash. We never think of a time when money was not part of our lives, or a part of our society. Yet, the role of money...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

The Use Of Money Improves Society | Adam Smith Wealth Of Nations

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Critical Financials’ Basic Personal Finance Rules

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