Entry 46

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.