If I could go back and do it all over again, as the old man said as he was
reflecting on his youth ! Yes, I am there, not quite an old man, but nevertheless
repenting my youth and what I consider to be wasted wealth.

First and foremost especially if you are under 30 put every penny possible into
a company sponsored 401K. If I had known the benefits of compounding interest
in kindergarten I would be a multimillionaire today.

Second, cut up destroy or freeze (as in the freezer) all credit cards so you
can't touch them. Again, the rule of compounding interest and when you do
not pay off your credit card in full you are handing money over to the banks.
To err is human but to be in debt is forever.

Third treat yourself as a business. The business comes first which is you !
Make prudent decisions and do not get into emotion. You will not die if you
do not have that blouse. You can drive a used car instead of a leased BMW.

Lastly, remember we were not taught this in school. I personally think it
should be a prerequisite for all second graders to balance a checkbook.
We are a whiz on the internet and a dunce when it comes to keeping track of
finances. So don't blame yourself if you need to go on a money diet.

Single or married you are in charge of your own finances and what you do
today CAN affect all of your tomorrows when it comes too money. Consumer beware all merchandising and advertising is geared toward taking money from you. Don't spend more wherever less will do. On the same token, the extremely wealthy (as in old money) are the most frugal people in the world. It was given to them
so they know how not to lose it.

Learn more about this author, Linda Louise Stark.
Click here to send author comments or questions.

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