Many years ago, I read a book that gave financial advice. The author emphasized three practices.

1. Pay cash. When use use credit and pay interest, you're throwing money away.
2. Don't stop working. You can retire, of course, but don't spend the rest of your life in a chair with the TV remote in your hand. Get a part-time job, volunteer, do something that requires you to follow a schedule and gives meaning to your life.
3. Give your fortune away before you die. Instead of having a dozen relatives praying for your death every night, give them their inheritance while you're still alive. They will be able to use it more now more than later, you will see their appreciation, and you will see how they use it - gambling in Las Vegas or buying a house. Of course, if you have no fortune to give away, disregard #3.

Those three ideas always stuck in my mind, and aside from #3, I have tried to follow his advice.

Many years ago, I read a book that gave financial advice. The author emphasized three practices.

1. Pay cash. When use use credit and pay interest, you're throwing money away.
2. Don't stop working. You can retire, of course, but don't spend the rest of your life in a chair with the TV remote in your hand. Get a part-time job, volunteer, do something that requires you to follow a schedule and gives meaning to your life.
3. Give your fortune away before you die. Instead of having a dozen relatives praying for your death every night, give them their inheritance while you're still alive. They will be able to use it more now more than later, you will see their appreciation, and you will see how they use it - gambling in Las Vegas or buying a house. Of course, if you have no fortune to give away, disregard #3.

Those three ideas always stuck in my mind, and aside from #3, I have tried to follow his advice.

Always live below your means and you will always have money.
Money doesn't come with intructions.
As far as #1. I suggest using Credit cards as a tool for money mgt. But, always pay off the amount each month. Also, I carry several different credit cards that give me back value in the way of points for Hotel stays, Airline miles. Yes, all of my cards charge an annual fee but it's the price of being able to stay in nice hotels when we travel. A couple of our cards give us free night certificates on the anniversary date of when the date the card was first issued. Since our retirement in 2012 we have traveled alot. Most of our hotels stays have been on accumulated points from the use of our credit cards. Our credit cards run promotions from time to time that will give you double the points, or additional points for shopping where we usually already shop or eat. We have been to Europe a couple of times staying on Hotel points, even flew Business class on accumulated Airlines miles. I guess in the end, it works for us. Credits cards are just a money mgt tool that we use to fund our lifestyle and in return allows us to stay in some very nice hotels with points. Credit cards are not bad if used correctly. Interest is bad, never pay interest. Happy travels everyone.