Big thanks for any pointers you guys have.


I don't know if any of this will be useful or even do-able... but a few guidelines I live by are:

1) Every dime I spend is done through my credit card. This way I have a monthly summary showing exactly where my money went. $40 cash in my wallet will last me literally years purchasing the very rare item that I can't put on my card.

2) I only have one credit card, and the balance is paid in full every month. I have never paid interest on a credit card in my life, because...

3) I never, ever buy anything with my credit card that I could not have written a check or paid cash for instead. The credit card is NOT a means to borrow money I don't have; it is an accounting convenience.

4) This is the biggie. If I had access to a time machine and could somehow transport myself back 40 years, I would bring a gun and hold it to my 20-year-old self's head and absolutely make me start a 401k program. (Hmmm... was there a 401k back then?) Prioritize that 401k contribution ahead of food, drink, cars, and sex. Figure out the maximum I could possibly afford to put into it -- then put in twice that amount. I would be a multi-millionaire today had I done that.

I guess my philosophy comes down to six words:

Don't spend money you don't have.

tanstaafl.