Why Didn’t They Teach Me This in School?: 99 Personal Money Management Principles to Live By (2016) by Cary Siegel

FOREWORD
LIFE LESSON
Principle 1: Marry the “financially right” person
Principle 2: Stay married to the “financially right” person
Principle 3: Having and raising children costs lots of money
Principle 4: Always live below your means
Principle 5: Take care of your “stuff”
Principle 6: Expand your circle of friends/associates and keep in touch with them
Principle 7: You take away more from your first couple of jobs than you give
Principle 8: Spend just one hour each week learning about personal finance
Principle 9: Get rich slowly
Principle 10: Set (realistic) short-term financial goals
Principle 11: Set (realistic) long-term financial goals
Principle 12: Always know the score—your net worth
BUDGETING AND SAVING LESSON
Principle 13: Develop a written budget and evaluate it every single month
Principle 14: Give yourself an annual financial physical
Principle 15: Save/invest 50 percent of every salary increase
Principle 16: Save 90 percent every bonus (or nonplanned income)
Principle 17: Understand your employee benefits; they are worth significant dollars
Principle 18: Always have an emergency fund
Principle 19: Have an emergency month every January
Principle 20: Coupons make $ense
Principle 21: Shop around for discounts on all products and services
Principle 22: Make sure you mail in your rebate offers right after your purchase
Principle 23: Have a saving versus a spending mind-set
SPENDING LESSON
Principle 24: Don’t try to keep up with the Joneses; they’re going bankrupt
Principle 25: Don’t underestimate the cost of ownership
Principle 26: Prioritize your spending
Principle 27: Stay away from “great deals” that really aren’t
Principle 28: Stay away from “small bargains” that really aren’t
Principle 29: Determine what everyday products and services are important to YOU
Principle 30: Make sure the luxuries you afford yourself are truly important to YOU
Principle 31: Before you buy anything expensive, STOP and think about whether you really need it
Principle 32: Drop “unhealthy” spending habits
Principle 33: Know what your monthly bills are, and take action when they are increased
Principle 34: Pay all your bills ON TIME every single month
Principle 35: Don’t forget to pay the government—on time
Principle 36: It’s OK to overpay the IRS (by a little) over the course of a year
Principle 37: Check every bill you get, especially those for health care
Principle 38: Review and keep all your receipts
Principle 39: Buy a car that fits in your current budget
Principle 40: Purchase last year’s model on high-ticket items
Principle 41: Negotiate everything
Principle 42: Spend now to save later
DEBT AND CREDIT CARD LESSON
Principle 43: Debt is bad
Principle 44: If you are in debt, get out of it quickly
Principle 45: Just say no to credit cards; do not get a credit card in college
Principle 46: After college, have a maximum of only one credit card
Principle 47: If you have to have one credit card, pay the balance every month
Principle 48: Develop and maintain a good credit rating
Principle 49: Maintain a good FICO score
Principle 50: Understand the time value of money
INVESTING LESSON
Principle 51: Manage your own money
Principle 52: Don’t fall for “get rich quick” schemes
Principle 53: Don’t look for the financial home run; singles and doubles result in the long-term win
Principle 54: Don’t invest in just a few stocks (or investments)
Principle 55: Don’t play “hunches” in the stock market and don’t invest in a friend’s “can’t miss” tip
Principle 56: Easy investment management at a young age: purchase three or four stock index mutual
funds
Principle 57: Always buy no-load rather than load mutual funds
Principle 58: Invest in your 401K—at least to the company match
Principle 59: Don’t invest with family and friends (or loan them money)
HOUSING LESSON
Principle 60: Renting—Rent, don’t buy (until you’re settled)
Principle 61: Renting—Budget 25 percent of your gross salary (maximum of 30 percent)
Principle 62: Renting—If you have paid one month’s security deposit, don’t pay your last month’s
rent
Principle 63: Buying a house—Buy less house than you can afford
Principle 64: Buying a house—The top two considerations are location and price
Principle 65: Buying a house—Evaluate the house using specific criteria
Principle 66: Mortgage—Make sure your down payment is at least 20 percent of the purchase price
Principle 67: Mortgage—Make sure your monthly payment doesn’t exceed 28 percent of your gross
salary
Principle 68: Mortgage—Shop around for interest rates
Principle 69: Mortgage—Get a fifteen-year mortgage
INSURANCE LESSON
Principle 70: Always choose the highest deductible for home and automobile insurance
Principle 71: Renter’s insurance—Don’t forget to get it
Principle 72: You must have health insurance
Principle 73: Term life insurance works best for young adults
QUICK TIPS
Principle 74: If it’s offered, take the house down payment (or the big check) versus the big wedding
Principle 75: Don’t invest your time and money in multi-level marketing programs
Principle 76: Drive your car until it drops
Principle 77: Read your automobile manual cover to cover
Principle 78: Don’t purchase extended warranties on cars, electronics, appliances, and televisions
Principle 79: Don’t buy premium gas for your car—it’s just not worth it
Principle 80: Don’t ever do “rent-to-own”
Principle 81: It’s OK to buy grocery/drug generic products, and doing so saves you lots of money
Principal 82: Bring your lunch to work as often as possible
Principle 83: Don’t purchase the first generation of a product; wait until the second, third, or fourth
Principle 84: Invest in surge protectors for your expensive electronics
Principle 85: Invest in a fireproof safe
Principle 86: Set up a home filing system to keep track of all your financial records
Principle 87: Manage your electric bill
Principle 88: Learn how to fix “things”
Principle 89: Read every line of every contract you sign
Principle 90: Avoid lawsuits unless absolutely necessary
Principle 91: Make no oral agreements for any significant purchase or sales
Principle 92: Get your books at the library
Principle 93: Reconcile your checking account every month, don’t bounce your checks, and use only
your bank’s ATM
Principle 94: Set up both a checking and a savings account
Principle 95: There is no such thing as free checking
Principle 96: Get a good accountant (whom you can trust)
Principle 97: Use cash as often as possible
Principle 98: Approach your job following the three P’s: passion, politeness, and persistence
Principle 99: Successful personal money management is all up to you