TIP 27
SET UP A RESERVE ACCOUNT
Money doesn’t always bring happiness. People with 10 million dollars are no happier than people with nine million dollars.
I used to think that a reserve account was a credit card that still had some room to spend on it. I had no savings except for my company 401K, and I had even taken out a loan against that. I never saw the point of having savings. After all, at 3 percent interest, I wasn’t going to earn any significant interest. And, it was a whole lot more fun to spend than to save so why bother?
That’s the funny thing about having a cash reserve—you can’t appreciate it until you have it. It is just something you have to experience, and once you do, you’ll never go back to your old ways. ...
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