My Rules for Financial Decisions

Before making any financial decision, go through this list of questions. If you're not satisfied with each and every answer, chances are you're looking at a bad investment.

Rule #1 – Know What You Need and When Enough Is Enough How can I reduce my costs? Can I achieve the same result or address the same need with less money? Most often, higher costs do not translate into improvements in your quality of life.

Rule #2 - Stay Out of Debt! - Debt is always an obstacle to everything we want to achieve, which is why it should not exist at all. Debt is what turns us into slaves. If we cannot avoid it entirely, then we must make sure it is as small as possible, under the most favourable conditions possible, and that the desire it addresses complies with Rule #1.