10 Ways To Ruin Your Financial Security

September 11, 2007 · Filed Under · 4 Comments 

Money ImageTime tested approaches that will ruin your financial security every time, in no particular order. I was unable to put them in order because they all deserve special attention!

1- Sell your modest, fuel efficient vehicle, and upgrade to your “favorite, gotta have it” SUV. To offset this cost, immediately start drilling for oil in your backyard.

2- Don’t save for your retirement. Assume your kids will be rich and will take care of you.

3- Don’t have an emergency savings fund. Instead, buy duct tape in bulk from The Home Depot. When something on your car or in your home breaks wrap it in duct tape until it is completely silver.

4- Spend more than you earn EVERY month. Remember, spending is a good thing and only helps to rejuvenate the economy.

5- Only pay the minimum on your credit cards. No sense giving those blood-suckers a dime more than what they are asking for.

6- Take that vacation you can’t afford. Hey, you work hard, you deserve that 7 day resort stay in the Bahamas.

7- As your salary increases, make sure to increase your lifestyle at the same rate.

8- Only buy popular name brands that you see on television. Afterall, if they can afford to advertise they must be the best.

9- Cash your paycheck at the supermarket and carry the cash until it is gone. Don’t even bother with a savings account, have you ever tried to balance one of those things?

10- Last but not least, don’t research proper investing. Instead, invest in individual companies based on your gut-instincts. Perhaps you like their logo or they have a catchy slogan, or the CEO has a hot wife. Good enough!

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Comments

4 Responses to “10 Ways To Ruin Your Financial Security”

  1. Lynnae @ Being Frugal on September 11th, 2007 6:58 pm

    I love it! It’s sad that a lot of people do these things. It’s even sadder that I’ve done a couple of them. :)

  2. Kyle on September 12th, 2007 7:21 am

    Yeah, I should have prefaced this post by saying I am guilty of a few as well…

  3. FourPillars on September 17th, 2007 7:00 pm

    I like the duct tape idea – I have a silver car so it might actually work for me…

    Mike

  4. FIRE Finance on September 22nd, 2007 8:53 pm

    Fine post, we have cited you as one of our favorites in our Sunday Review.

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