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I would like to begin this write up by stating a very obvious fact: Money is an important commodity. Therefore, your attitude to money, for good or for ill, plays a crucial role in your financial success or lack of it.

Considering the important role that money plays in everybody's life, it is a risky business to have a careless attitude to money matters. On the contrary, it makes a whole lot of sense to apply some tested and pragmatic rules to the getting, spending and keeping of money.

In my opinion, some essential money rules to live by include the ones discussed below:

1 SAVE
This is the undisputed number one rule of money. If you earn a salary, save a part of your income. If you run a business, save some or most of your profits. Remember, money spent is lost forever but money saved can bring you even more money.

2 DON'T BORROW
One of the most dangerous habits anybody can get into is the habit of borrowing money. It leads to a vicious circle of borrow, repay, get broke and borrow again. Don't borrow money! This is one habit that is guaranteed to cost you your self-respect, your financial independence and possibly your health.

3 DON'T LEND
Money is such a precious tool that you cannot afford to fritter yours away. If anybody asks you to lend them money - and a lot of people will - have a tailor-made answer; "I don't have money to spare". If you form a habit of lending people money, you are running a massive risk. Most people won't repay the money and those who do will pay you back in bits.

4 HAVE A BUDGET
Every sensible person should have a healthy respect for money. Don't spend money without budgeting for it. And don't ever spend money that is not on your budget. Have a budget and, better still, stick to your budget religiously.

5 AVOID IMPULSE BUYING
Don't ever buy anything that you don't need. A laptop at $50 is expensive is you don't need it. But a mobile phone at $100 is cheap at the price if you really do need it. The message? Don't buy anything on impulse. Buy only what you really need.

6 PAY CASH
Except in absolutely necessary cases, don't ever buy anything on credit or hire purchase. It costs you less when you pay cash so, always prefer cash transaction when you buy anything.

7 INVEST EXTRA CASH
I was almost tempted to say; "Invest idle funds" and then I caught myself on time. Funds should never be idle. So if you have extra cash, invest your money. The smart man is the one that makes his money breed.

8 BE CONSERVATIVE
I simply don't understand why most people don't

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