Dana's Laws of Money
Dana's First Law of Money: If you can't pay cash for it, don't buy it.
Dana's Second Law of Money: A want is not a need and understanding the difference will make you wealthy.
Dana's Third Law of Money: Don't buy a big car or truck or any gas guzzling SUV. It will keep you poor, guaranteed. Buy a nice, reasonably priced used car, preferably under $10,000. Better yet, buy a clunker and take the bus or train or ride your bike.
Dana’s Fourth Law of Money: Open up a savings account at a bank that you CANNOT access by internet. BEFORE paying any other bill, every month on payday put $250.00 into that account by check through snail mail or in person. DO NOT TOUCH THAT MONEY. PERIOD. Whatever is left is what you’ve got to live on. No exceptions.
Dana’s Fifth Law of Money: Always, always, always buy your spouse or significant other a nice personal gift every single anniversary, birthday and special holiday. Your money is for them, not you.
Dana’s Sixth Law of Money: Stop buying CDs, DVDs, books, clothes, makeup, electronics, gadgets and other useless toys that you neither need or want. Cutoff the cable TV and cancel all periodicals. Cancel your cell phone and get a “pay as you go” cell only for emergencies. If you gamble, quit. Your life will be much simpler and you will be much happier.
Dana’s Seventh Law of Money: Quit smoking and don’t buy alcohol or drugs. You can’t afford it and it will kill you.
Dana’s Eighth Law of Money: Donate a reasonable amount to your favorite charity. You were given the gift of money, now spread it around to make the world a better place.
Dana’s Ninth Law of Money: Buy or rent a cheap place to live. Your total payment, including taxes and insurance, should NOT exceed 30% of your take home pay.
Dana’s Tenth Law of Money: Learn to live with less. Less means saying “not now.” Less is more. Less is better.