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<img class="aligncenter size-full wp-image-16898" title="fox" src="http://content.artofmanliness.com/uploads//2011/04/fox.jpg" alt="" width="367" height="483" /> The manliness of frugality cannot be overstated. Frugality cultivates the manly qualities of independence, self-reliance, self-sufficiency, simplicity, and minimalism. It keeps a man free from the enslaving chains of debt and gives him an sense of manly pride and satisfaction. Frugality build a man’s immunity to the siren call of “stuff,” helps him learn to make do with less, and adds pleasure and happiness to his life by providing opportunities to practice delayed gratification . Frugality also fosters the DIY spirit and inspires a man to create , instead of consume .
Ramit Sethi runs the Web site I Will Teach You to Be Rich . Think of the last 10 pieces of personal finance advice you’ve read. Do any of these sound familiar? Cut back on lattes!
A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business Charles Munger, USC Business School, 1994 I'm going to play a minor trick on you today because the subject of my talk is the art of stock picking as a subdivision of the art of worldly wisdom. That enables me to start talking about worldly wisdom—a much broader topic that interests me because I think all too little of it is delivered by modern educational systems, at least in an effective way. And therefore, the talk is sort of along the lines that some behaviorist psychologists call Grandma's rule after the wisdom of Grandma when she said that you have to eat the carrots before you get the dessert. The carrot part of this talk is about the general subject of worldly wisdom which is a pretty good way to start.
Myth: I should pay off the debt with the highest interest rate first to get out of debt quickly. Truth: You should pay off the smallest debt first to create the greatest momentum in your debt snowball. The math seems to lean more toward paying the highest interest debts first, but what I have learned is that personal finance is 20% head knowledge and 80% behavior.You need some quick wins in order to stay pumped enough to get out of debt completely. When you start knocking off the easier debts, you will start to see results and you will start to win in debt reduction. Debt Snowball Plan The principle is to stop everything except minimum payments and focus on one thing at a time.