A couple weeks ago at the Fargo Library book sale, a couple of the books I got were 2 of the Lists to Live by books by Alice Gray, Steve Stephens and John Van Diest.Â They include lists dealing with a variety of topics including Success, Friendship, Health, Marriage & Romance, Home & Finances, TeensÂ and Family Life.Â I will be sharing some of the lists in futureÂ posts.
One of the lists is Â Principles for Debt-proof Living
You must never keep it all – The first thing you must do when money flows into your life is give some of it away.
You must never spend it all – Always pay yourself before anyone else.Â Always.
There are only five things you can do with money – Give it, save it, invest it, lend it and spend it.Â Notice where spending comes in that lineup: last.Â Spending should never be the first thing you do with your money.
Pay Cash – Paying cash requires making some lifestyle changes and sacrifices, but it will keep you from drwoning in a sea of red ink on your journey to financial freedom.
No debt no matter what – Unsecured debt is like cancer.Â At first it is not life-threatening because it involves only a cell or two.Â But it never stays tiny.
Develop a strategy – Without a plan for getting there, reaching your goal of financial freeom will remain a dream.Â A plan turns a dream into a goal.