What You Didn’t Learn in School – Life Lesson

Marry the financially right person.

This doesn’t mean marry someone just for their money. Marry someone with good financial habits. Make sure you know what your spouse’s financial status is even when you are dating. Money being a main reason for couples fighting, it’s better to understand each other financially at every point of your life.

Having and raising children costs a lot of money.

Children are wonderfully extraordinary. You want them to be happy and happiness for children usually means getting “stuff”. So on top of buying them toys, you buy them food, clothes, pay for education, childcare, healthcare and if they’re in sports or other organizations. Hundreds of thousands of dollars is spent on a child before college. Before having children, it’s a good idea to have that financial aspect in mind.

Always live below your means.

I learned this early on and I am so thankful I did. Even though I am only 18, I am saving a lot of money by not spending any. I used to “shop until I dropped” but now I buy what I can afford and little of it. Buy your necessities and when you can afford to buy your wants, go for it.

Take care of your stuff.

Fortunately, I have always had nice things, because my mother taught me to take care of them. The more/longer you care for your things, the less money you will spend buying new.

Expand your circle.

Of friends and associates. I am certain you understand “it’s who you know” especially in the work force. So keep tight relationships with all kinds of people. Some of those people in high school or college or whom you meet at work turn out to be real estate investors, accountants, CEOs, realtors, lawyers, etc. It’s good to keep in touch because you can learn from them and maybe even get sweet deals.

Learn about personal finance.

According to Cary Siegel, all you need is an hour a week. Where you can find information? You can fond info on the internet, a library, a mentor, company seminars, friends and/or family. Siegel also suggests you should subscribe to MONEY magazine. “It’s easy to read, inexpensive, and it provides good information and excellent advice. Most importantly, it makes you think about different personal money management ideas.”

Get rich slowly.

Because becoming a millionaire does not happen overnight. It takes time and a lot of hard work. Save, invest, and learn more about personal finance. Not every decision you are going to make is a good decision because you live and you learn. You must enjoy the journey and realize that you are already rich in life. If you work only for the money, your life is not fulfilled and “all you have to show for your journey is wealth.”

Set short-term goals.

Financially realistic that is. It may start with every pay-day you save x amount of money, and/or every month, and/or every year. Set as many goals as you want and write them down everywhere.

Set long-term goals.

Years in advance. My long-term goals?

  • Become a teacher in 5 years max
  • Buy a new car in 4 years
  • Pay off all of my college loans by age 30
  • Move in with the love of my life

These can change and that’s okay because long-term goals are easy to forget about and things happen. Write down what goals mean the most to you and don’t give up on them.

Know your net worth.

Add up the price of everything you own and subtract what you owe. List all of your assets and liabilities. Write it down and keep it in a notebook/binder or create a document on your computer and store it on a hard drive.


There’s your life lessons. I learned a lot just from writing this. I didn’t come up with this all on my own… While I was working, someone returned the book “Why Didn’t They Teach me This in School? 99 Personal Money Management Principles to Live by.” By Cary Siegel. I snatched it up and it’s so good I just had to share. You can buy a copy here. It’s only $10.70!! I have decided to do a blog post on every chapter (a condensed version). Stay tuned for more amazing tips!!

Leave a Reply

sixteen − 16 =