Start early

Everything you learn, every cent you earn and save, and every dollar invested has the greatest value when you start early. Those who become financially independent early are the ones who start earning when still in school, save hard in the first few years of full-time working, and invest early. Those who do well academically are often the ones who have covered the syllabus one … Continue reading Start early

Be prepared

This scout’s motto works just as well for learning, earning, saving, investing, and retiring. Do your homework and get things ready before you need them. Retrenched employees who survive the best are those who monitor whether their employers would need them in the next few months, and who constantly check the market for new opportunities. Shoppers who get the best deals know what they need … Continue reading Be prepared

Minimize Taxes

Invariably the government takes a first bite at your income (and capital gains) through tax. As your income increases, the tax bite becomes bigger, in absolute terms as well as a percentage. When your income and wealth become significant, it is worthwhile to think have tax-planning. Learn about tax through publications from the tax office, websites, and books. Make use of taxation advice as soon … Continue reading Minimize Taxes

Eat less

Obviously eating less will save you money. It will also have other benefits in the longer term such as beauty and fitness. A well-known actress was asked the secret of staying beautiful. She replied, ‘Put less food into your mouth’. Besides good looks, you will feel more energetic since you don’t have to lug around excess weight. Staying slim also helps with self-esteem. Also you … Continue reading Eat less

Have fewer children

Children are very expensive. Fact: Statisticians estimate that it costs 25 years’ of an average person’s earnings to bring up one child from birth to completion of university. Don’t believe that it is cheaper by the dozen. Although the cost per child may go down, the total cost certainly increases. Avoid disrupting your career to have children. Take advantage of free help: parents, grandparents, relatives. … Continue reading Have fewer children

OPM children’s education

Education could be the single most costly expenditure on a child, especially if the child has private schooling. Find someone else to fund your child’s education. Get your employer to pay. Many companies give scholarships, interest-free loans, or low-interest loans to children of employees. Help your child get a scholarship. Many private schools give scholarships to attract bright students to improve the institution’s academic standing. … Continue reading OPM children’s education