79: 7 Brief Lessons on Money

7 Brief Lessons on Money 

1. It doesn’t matter how much you make if you don’t know how to manage it properly. I’ve know people who make multi-six figures and are in multi six figures of debt - and I know teachers making 30K a year and have a fully funded emergency fund, no debt, and are investing in retirement. Take personal responsibility for managing your money.
2. If you can’t afford to give right now, be honest. If you’re working through debt or struggling to pay your basic bills regularly, focus on getting your own financial house in order before you start donating extra money to someone else’s. A giving heart is great, but only if you’re not giving away your future (or your kids’ future) in the process. The next time you’re asked to hand over unbudgeted dollars, take some time to figure out what you can afford then give if—and only if—it works with your budget.
3. Money doesn’t change people - it’s who they always were. But money doesn’t have manners. Money is just money.  
4. Don’t resent your bills - be grateful for them. Why resent paying your bills? If you use it, you pay for it. That’s empowering. And the fact that you have the money to pay your bills is always something to be grateful for.
5. Be legal, pay your taxes. Certainly leverage the system, but don't get "creative." Just keep it legal.
6. More on taxes…don’t stay in debt or retrain your earning for tax breaks. If you’re holding onto debt or restraining your earning potential because you think that making more or paying it off will mean higher taxes, then stop that. Most of the time that logic is nonsensical.
7. Understand where you’re money is going - and make sure you’re being intentional and getting the best deal, but know that *most* of the time money is never WASTED. Don't view money as being wasted. Money is never wasted - I try not to think of money as ever being wasted.