So my brother is graduating from college next year, and I’m hoping to give him a nice bound journal of advice… mostly financial, since that’s the only advice you’re really looking for at that point in your life. I’m planning to write it all out by hand, so it’s more sentimental and heart-felt, and I have a lot of different categories that I’ve started to brain-dump ideas in. But I also want to kick it off with a Financial Top-Ten List, sort of an exercise in Financial Commandments. Here’s what I have so far… any disagreements, anything to add?
1. Automatic Deductions – You’ll never miss it!
2. Be hyper-conscious of spending
3. Use the Sub-Accounts for Saving with ING (you can reward yourself – save for things you want, not just things you need.)
4. Max out a Roth IRA!
5. Dental care is expensive. Invest in a Sonicare toothbrush.
6. Learn to cook a few easy dishes you love. It’ll save you $1000’s in expensive takeout.
7. Pay off your credit card balances immediately.
8. Judge yourself against your own standards, not the groups you happen to identify with.
9. Plan ahead.
10. Know what you value.
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