I first became self-employed at age 19. I have never had an economics class, but it seemed obvious that to buy anything which was not needed (as opposed to wanted) by borrowing was counter productive.

After over forty years in business the bills uncollected from customers totaled just a bit over $600. “Neither a borrower nor a lender be,” is good advice IMO. I soon learned not everyone is to be trusted to check out their payment history before doing any work. “Look before you leap.” is another old saying which should be remembered.

I borrowed to buy our house as soon as we had saved enough, but in those days a wife’s income would not be counted. My parents cosigned and we were able to meet the mortgage payments. We have done the same for our kids.

We used “sweat equity” (we painted inside and out and put in the lawn) to buy a small, new house. Sold it at a profit in a few years and repeated the process. We paid it off ASAP.

In the early years of marriage we bought used furniture at garage sales, a 15-year-old car (with low mileage) and used vacations to do the painting, etc.

Saving instead of spending works.

If you don’t have the money — don’t buy luxuries.

Start saving early in life and the fun comes later.

If you use a credit card — pay it off each month. Card debt is one of the absolute worst habits. (Don’t pay interest — collect it!)

I only wish we could make congress accountable for the debt they saddle us with. We could start by linking congressional pay and benefits to that of their constituents.

Charity should begin at home — not with someone else’s money.

i) $0 (My parents had 4 kids and brought home $300/week growing up in the 80’s/90’s. I got the loans to go to college. I graduated, got a job, lived like a monk, and worked hard, paying the loans off by myself <5 years after graduating (no Daddy Warbucks to bail me out, sadly.) I’m far from rich, but have saved money for what I want and what I need. I support local businesses, volunteer 5 hrs/ week, work 50, and gave ~5% of my income to charity this past year. The value of my dollars has eroded, my retirement/social security will be worthless by the time I get it and my town is full of foreclosed homes. I try to be a model citizen and watch America bail out the scumbags, yet again, at the nation’s expense. When it all burns down you’ll hear me laughing because I’ll be right back where I started!