The Ten Commandments of Personal Finance

The Ten Commandments of Personal Finance

Here’s an interesting way to present some golden rules to help the general public deal with the current recession. It’s a great post today that lists the 10 Commandments of Personal Finance. Here’s a summary:

  • Though Shalt Take Action
  • Though Shalt Pay Off All Credit Card Debt
  • Thou Shalt Understand the Difference Between Wants and Needs
  • Thou Shalt Live on Less Than You Earn
  • Thou Shalt Pay Yourself First
  • Thou Shalt Set Financial Goals
  • Thou Shalt Educate Yourself and Be Responsible for Your Decisions
  • Thou Shalt Save and Invest
  • Thou Shalt Protect Your Finances
  • Thou Shalt Donate to Worthy Causes and Those Less Fortunate

Some of these are down to common sense, but it’s amazing how many people aren’t aware of the fundamentals. I have a friend who’s an expert at keeping himself and his family healthy (he can talk about healthy grilling for hours), but really doesn’t have an idea how to manage his finance. I bookmarked the post to send to him because it’s versed in a way he might understand.

So pop down to The Abundant Alliance Blog and read the detail.

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