Classic FMF, Part 1

I'm on my last vacation of the summer over the next few days and FMF will be taking a break with me. However, I thought I would highlight my most-often-referred to posts, "classic Free Money Finance" if you prefer, once each day while I'm gone as a refresher before we get back to our regular programming next week. Here is today's group:

• How to Get Rich in Three Easy Steps - When it's boiled down, success in personal finance is pretty easy. If you take a few, simple steps, you'll have a net worth far higher than that of most people. That's what I love about this post -- it's short, simple, and very effective at growing your net worth.

• Maximizing Your Greatest Asset: Why Your Career is So Important - I've said about a ba-zillion times that your career is your most important asset. Managing it for maximum income is one of the foundational pieces of good personal finance management IMO. As such, this piece (and all the others like it here at FMF) are key to success in growing your net worth.

• My Best Financial Advice: Spend Less than You Earn - Many people hate this post or line of thinking because they say it's too simplistic or obvious. Maybe, but something can be both simple and obvious and still be important. In addition, we've seen time and again that a higher income alone is not the answer -- that any amount of income can be spent completely if you don't spend less than you earn. That's why I stick with this piece of advice as my best tip over all the others.

That's it for today. Come back tomorrow and see three more classics.

Comments

[Scordo.com]

The "spend less than you earn" concept is so, so critical! And, yes, most people glance over it, but it's the folks who live below their means that become the Millionaires Next Door on a 50K a year salary over a 40 year time period of spending less than they earn!

Scordo

[Lee]

I agree that spending less always works. Invest in savings/investments 1st then live on a budget with what is left over is winning advice. Most families spend first and then save what is left over which is usually "0". The real irony here is that it is really very painless once you commit yourself to a savings plan.