THE MONEY CODE.
This is the #1 rule. ALWAYS stay debt-free. Credit card debts have over 20% interest rates. You don’t want that accumulating!
PAY BILLS ON TIME
This goes hand in hand with staying debt-free. Also, to avoid accidental late payments, it is good practice to pay ahead of time.
KEEP AN EMERGENCY FUND
Keep 3 to 8 months of monthly expenditure (this includes insurance, family contribution and day-to-day expenses). Emergency funds are great protection against any financial stress. It helps fight against emergencies, job lost and over expenditure.
REFRAIN FROM UNNECESSARY EXPENDITURE(S)
As a rule of thumb, always ask “Is this necessary?” before any purchase.
CALCULATE THE ODDS BEFORE GETTING LOTTERY
Basically treat lottery as a form of entertainment. It is never a form of investment.