When it comes to handling money, everyone has their own approach. Some stuff it in an envelope at home for budgeting, others deposit it in a bank to avoid the temptation of spending, others use plastic to escape bank ATM withdrawal fees. Whatever your penchant, the following are basic guidelines on what to do with it; (and a bit more on how to get more of it)
- Don’t tell people what to do with theirs.
- Don’t carry it in a roll.
- Don’t give it to panhandlers.
- Percentage of your portfolio to invest in stocks: one hundred minus your age.
- Never tell anyone how much you make.
- Save at least 10 percent of your salary. If you haven’t started, start now. Right now.
- Do not let your child put money in his mouth.
- How to get a good raise: Request meeting with boss. Calmly outline accomplishments. Use words such as future and growth. Threaten to quit. Quit. Depart for higher-paying position elsewhere. You did go in with another offer, right?
- The only surefire way to double your money is to fold it in half.
- A nice wallet is good. A nice money clip is better.
(Adapted from Esquire magazine)