10 Foundations of Personal Finance

To start my personal finance series I thought I would start with the following foundations on personal finance. I will follow up with a post on each of these individual topics:

#1 Spend less than you make

#2 Create and stick to a budget

#3 Make savings automatic

#4 Accumulate assets that appreciate in value

#5 Avoid assets that depreciate in value

#6 Invest your savings early and often

#7 Live almost debt free

#8 80% of personal finance is behavior 20% is knowledge and the numbers

#9 Your retirement is YOUR responsibility

#10 To be successful you and your partner must agree on these principles

Most personal finance topics can be attributed back to one of these principles. Did I miss any?

3 thoughts on “10 Foundations of Personal Finance”

  1. Hey my name is Andrew Knight! And I’m a web developer as well! Awesome! Your site is great and I’ve learned a good little bit from it. These ten principles are good and practical ideals. Thanks!

  2. Hi Andrew,

    In today’s times, it is very difficult to find someone who doesn’t possess a credit card. However, it is important to understand that we need to pay back the money that we spend using our credit card. Indiscriminate use of our credit card will lead us into a debt trap. Many people forget this simply because they are not paying using hard cash; and then they accumulate huge debts.

    Regards,

    Susan
    http://www.smart-debt-solutions.com/category/credit-card-debt-help/

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