Billy Florence - Financial Rules to Grow By

I was reading a recent article from CNNMoney.com. It had 25 rules to grow rich by. There were some really great rules or principles that I wanted to share...

Billy Florence TEAM - Financial Rules

Spend no more than 21/2 times your income on a home. For a down payment, it's best to come up with at least 20%.

If you're not saving 10% of your salary, you aren't saving enough.

Keep three months' worth of living expenses in a bank savings account or a money-market fund for emergencies. If you have kids or rely on one income, make it sixmonths'.

The best way to save money on a car is to buy a late-model used car and drive it until it's junk. A car loses 30% of its value in the first year.

Resist the urge to buy the latest computer or other gadget as soon as it comes out. Wait three months and the price will be lower.

These Financial Rules were found in this article on CNNMoney.com:

http://money.cnn.com/2006/10/16/pf/easyway_25rules.moneymag/index.htm?postversion=2006101916

© 2006 Florence News reprint permission to Billy Florence Team Dream Chasers site.