“A nickel ain’t worth a dime anymore.” –Yogi Berra
“A part of all you earn is yours to keep. It should be not less than a tenth no matter how little you earn. It can be as much more as you can afford. Pay yourself first.” –The Richest Man in Babylon
“Wealth, like a tree, grows from a tiny seed. The first copper you save is the seed from which your tree of wealth shall grow. The sooner you plant that seed the sooner shall the tree grow. And the more faithfully you nourish and water that tree with consistent savings, the sooner may you bask in contentment beneath it’s shade.” –The Richest Man in Babylon
“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” -Albert Einstein
“I love money. I love everything about it. I bought some pretty good stuff. Got me a $300 pair of socks. Got a fur sink. An electric dog polisher. A gasoline powered turtleneck sweater. And, of course, I bought some dumb stuff, too.” –Steve Martin
“I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for ten years.” –Warren Buffett
First Job First Paycheck by Jeff Lehman
The Millionaire Next Door by Thomas J. Stanley and William D. Danko
The Richest Man in Babylon by George Samuel Clason
Financially Fearless by Alexa Von Tobel
Rich Dad, Poor Dad by Robert Kiyosaki
So Money with Farnoosh Torabi
YNAB (You Need a Budget)
Pay yourself first…aka save first. Then pay your fixed expenses and bills. Finally, feel free to spend all of the rest down to the very last cent!
Learn how to acquire money, how to keep it, and how to use it.
Avoid lifestyle inflation. You will never get ahead no matter how much money you make.
Find a way to earn an income that is not exchanging time for money and escape the rat race.(See Rich Dad Poor Dad Cash Flow Quadrant)
Every time you swipe your credit card you are essentially voting for what you value in life. Make sure that you actually value what you are paying for and stop if you don’t.
You will not grow wealth in a savings account and especially not in a checking account. Investing is much simpler than you think and you should start young. As a 20-something the easiest thing to do is save as much as you can in your employer sponsored plan i.e 401(k). After that, use one of the recommended financial institutions below and open a Roth IRA. Contribute to it regularly and leave it alone!
Negotiate your bills! Do NOT ignore those intimidating bills and in turn ruin your credit score. Instead, call the company and discuss arranging a payment plan. Many places are eager to work with you. Just make sure to ask if there will be any interest or penalty charges.