Lessons I Learned From Being Broke

There is no doubt about it, being broke sucks. But that isn’t to say you can’t learn valuable lessons from being broke. These are the most important lessons I learned from being broke. * Credit cards are a good thing when used correctly.  You can earn cash back, free flights, and free hotel stays, win! * Debt is the devil.  It is the devil waiting to poke you with its pointy pitchfork.  No one likes that. * Banks are the devil too.  Fees, fines, charges, crap interest.  The banks are the devil with two pointy pitchforks. * Mint is mint.  We have a lot of love for Mint at LMM.  For a lot of us, it was our first step in taking control of our finances. * Investing is what makes people rich. Starting your own business is one path to riches, but  not everyone can or wants to start their own business.  But all of us can and should be investing.  Always be investing. * I don’t need everything.  Neither do you.  Stop buying shit! * Staying home is ok.  Invite friends over to cook a meal, watch the game, play cards.  Not only will you spend less than if you go out, but unless you have crappy friends, they’ll bring some booze! * Education is critical (books, not college).  This one is controversial, but for the same eleventy billion dollars you spent on college you could buy a lot of books.  College is one path to education, but it’s not the only one. * Don’t be afraid to ask for money.  Whether this means not getting low balled on freelance work or asking your boss for a raise, no one is going to give you money unless you ask. * Job security is a myth (except for teachers).  The days of being a “company man” and retiring after thirty years with a pension and gold watch are over folks.  You have to be flexible and always looking for the next opportunity even if you feel secure in your current situation. * Owning a home is not for everyone.  This ties into #10.  If you lose your job and can’t find work in your area, you can’t pack up and go if you are tied down with a house.  There are a lot of hidden costs bot