Why Didn’t They Teach Me This in School? Book Summary
Why They Didn’t Teach Me This In School? The 99 money management lessons are divided into 8 sections as follows;
- Life lessons
- Budgeting and saving lessons
- Spending lessons
- Debt and Credit Card lessons
- Investing lessons
- Housing lessons
- Insurance lessons
- Quick lessons
LIFE LESSONS
Principle 1&2: Marry the financially right person, and stay married.
Marry someone who shares your money philosophy and has financial integrity. Being honest with each other is very paramount if in debt say so. Stay married, divorce is a financial downfall.
Principle 5: Take care of your stuff
By so doing you save a lot of dollars, for instance, if you take care of your clothes they can last more, taking care of your refrigerator, washer, cooker, microwave et al will save you cash that would otherwise be used for costly repair. Follow the manual booklet.
Principle 6: Expand your circle of friends/associates and keep in touch with them.
Everybody knows something about money, some of your high school buddies are accountants, investors, financial writers… interacting with some of them will give you a step ahead in your finances and life in general if you are lucky. Don’t limit yourself, learn to know people outside your circle/department. Caveat: Don’t follow advice blindly some will be either opinions or facts.
Principle 8: Spend one hour weekly learning about personal finances
It sounds like very little time to invest, but knowledge compounds, one hour sound little but in one year times you will have spent 52 hours learning about finances, you will end up being a better money manager and investor. Why They Didn’t Teach Me This In School?I could be far financially than I am today.
Principle 9: Get Rich Slowly
Wishing to be an overnight millionaire is a mirage, a pipe dream unless you’re planning to kill your rich uncle or robbing a bank. Being rich takes time; it is a marathon, not a splint. You need to put your nose to the grindstone, save some money, learn about money management, investments, debt management, leverage, and other financial paraphernalia must be considered. To avoid losing your shirt you need to follow get rich slowly, get rich quick schemes is the fastest way to be broke.