bcmatson

The personal weblog of Bradley C. Matson.

Sunday, September 02, 2007   A few financial principles to think about.

  • Make your money work for you. Don't trade time for money. Linear income is a dead end.
  • Buy modes of passive income. Income that doesn't require you to be in the picture.
  • Don't do "bad debt." Don't buy depreciating assets (things that go down in price) using credit.
  • Own your home, don't pay rent. It is possible to own for the same amount each month.
  • Setup your own business. Incorporate yourself. Create jobs, pay less tax.
  • Pay for good advise. Don't listen to poor friends' free bad advise.
  • Make your investments automatic. Use direct deposit, automatic deduction, and automated bill payment from your bank.
  • Build your financial IQ: accounting, investing, marketing and law. Take a class, check with your Chamber of Commerce.
  • Never carry credit card debt. Pay off your card every month. Cut them up if necessary.
  • Buy less stuff. Keep a journal of Everything you spend money on.


    • Help Send Bradley to Asia
    http://www.securenet.netfirms.com/send.html


    posted by Bradley Matson  # 2:46 PM




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