From this day forward, do not charge anything on the credit card that cannot be paid off at the end of the month.
More Quotes from Phil Cook:
I think a realistic approach is 10.5 percent to 11 percent, ... That's the long-term average.Phil Cook
I don't think it prudent to completely stop working with this kind of nest egg and feel comfortable that, no matter what happens to the market, my health or the economy, I've got enough to live on for the next 20 years,
Phil Cook
Reach out to other people who are affected in a less personal way, both professionals and good friends, ... They can help you sort out your thoughts. Try to avoid irreversible decisions, such as selling your house, quitting your job, or selling off large portions of investments.
Phil Cook
Unless she commits herself to living like a monk, it is not likely she will be able to achieve all of her goals in the next few years.
Phil Cook
The most important resolution people can make is one to create and stick to a sound budget.
Phil Cook
The debt-free mentality is largely the product of emotion - how nice it would be to never make a mortgage payment again. Good debt gives you some leverage that helps you increase your net worth.
Phil Cook
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