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  • Writer's pictureZachP

#47. Forty-Seven Lessons With Money I Wish I Learned Earlier

Updated: Mar 21, 2023


One. Money should never be the final goal


Two. A reliable 9 to 5 paycheck is a valuable resource


Three. There are no short-cuts to wealth-building


Four. All debt is not created equal


Five. Investing in the stock market does not have to be complicated


Six. Budgeting is not the enemy


Seven. Budgeting does not mean you can never have fun


Eight. A $5 coffee drink will not ruin you financially


Nine. Experiences are more valuable than material things


Ten. A supportive partner is the most important asset you can have in your life


Eleven. Do not complicate your life on purpose because complication will find you


Twelve. If someone tells you something is guaranteed, run


Thirteen. Invest in your education


Fourteen. And invest in your personal growth


Fifteen. There are lessons to be learned from mistakes


Sixteen. Realize when fear is the only reason you are not starting


Seventeen. Compound interest is your friend and needs to be taken advantage of early


Eighteen. Do not wait until April 14 to do your taxes


Nineteen. No one is responsible for your economic well-being except you


Twenty. Be willing to accept money from others if given with good intentions


Twenty-one. Do not be afraid to ask for help or advice


Twenty-two. Your colleagues are just as nervous and unknowing as you


Twenty-three. What you have been trying to accomplish has been done before, so find a mentor


Twenty-four. Don't decide not to try something (especially in business) because someone else has done it before you


Twenty-five. Wealth is tied to your health


Twenty-six. Investing in your future does not mean you cannot enjoy life today


Twenty-seven. Most enjoyable things in life are free


Twenty-eight. Money is a tool


Twenty-nine. Wealth is not built overnight


Thirty. You do not have to settle with your job (but remember lesson two)


Thirty-one. Retirement does not mean "not working"


Thirty-two. Plan to retire towards something, not away from work


Thirty-three. Work is not the enemy, being forced to work for a paycheck is the problem


Thirty-four. A normal brick and mortar savings account is not an effective place to save cash


Thirty-five. Not investing for your future is the riskiest thing you can do


Thirty-six. Think long-term


Thirty-seven. Worry about the 6 and 7 figure purchases more than the occasional $100 date night


Thirty-eight. Credit cards are not bad if you have good spending habits


Thirty-nine. You can and should invest in both an employer-sponsored retirement plan AND your own individual retirement account


Forty. You need to make inherently high-risk investments inside your portfolio, just make sure those are "quality" high-risk investments (such as investing in the entire S&P 500 instead of one individual stock)


Forty-one. Low-cost index funds are excellent wealth building tools for long-term investors


Forty-two. Cash is not trash


Forty-three. If you are lucky enough to be born in the U.S., you have a chance to become a millionaire


Forty-four. You can choose the people around you


Forty-five. YOLO and FOMO are not good reasons to make investing decisions


Forty-six. Money is not always evil - money can give you the freedom to do a lot of good in the world


Forty-seven. Spend less than you make


Why In The World Did I Decide To Write This Article?!?


This was one of those articles where I had zero plans going into it. I typed the beginning of the title the same way I start every article, and right after I typed "#47", I said to myself, "47 lessons about money."


I have no idea why my mind went this direction. I am happy it did though because it allowed me to write out all the valuable lessons I have learned and wish to pass on to our son. I am not sure I am right about everything, but I feel most of these lessons are worth teaching to him.



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