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December 24, 2013

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Pretty comprehensive list FMF.

The only thing I would add to #6 is "Don't try to keep up with the Joneses".

Sometimes we do feel a bit of pressure to keep up with our spendthrift friends, but I just congratulate them on their success and don't let it affect my attitude towards them.

As a 30 something in a large southern city, I've seen most of my friends buy into big houses in fancy new neighborhoods. Under the surface they're barely adding any wealth. While I, who bought a much smaller home in a older neighborhood, was able to add almost 6 figures of net worth in 2013. I don't think my spouse and I are missing out on anything in life by only having a single tv, two older cars or ikea furniture.

Well I guess we are missing out on one thing, all the stress of monthly payment plans.

I'm glad you add #6. You don't hear people talk too much about that. Some mistakes will set you back years. I think that's where poor people are different than middle class. They just keeps running into trouble and don't have the resources to draw on.

For #5, just opened a Schwab account. Planning to invest in index funds early next year. Will take it slow and invest monthly as I get comfortable....

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