It turns out we couldn’t afford to hire someone really great with money to write this, so here’s something from someone who read some other blogs and paraphrased a bit.
- DON’T: Spend more money than you have
Calculate the amount of money you make, then subtract the amount of money you spend. Hopefully, that number is not 0 or lower. If it is, you either need to get more money or spend less of it.
2. DO: Have a trust fund
Wikipedia defines trust fund as “a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another’s benefit.” There you have it. People who have trust funds are generally doing well in the money department.
3. DON’T: Eat toast with any sort of spread on top
This will only lead to your financial demise. While initially, it appeared that only avocado toast was cause for concern, at this point it is probably best to avoid toast altogether, just to be safe.
4. DO: buy a house in 1990.
If you bought a house in 1990, it has appreciated an astronomical amount in value. Now that your mortgage is paid off, you can happily continue to live in what is now technically a mansion, or you can rent it out to some desperate schmucks for $2500 a month, not including utilities.
5. DON’T: transfer credit card travel points to an airline frequent flyer program
Okay, if I am understanding this correctly, you will get the biggest bank for your buck by buying airline tickets with your credit card and then using your travel points to reimburse your purchase. Unless I have it backwards, in which case you should transfer your reward points directly to the airline program of your choice.
