3 Easy Money Habits I Swear By

Summary by Krater

The creator shares his top three personal finance rules for managing money responsibly: building an emergency fund and cash buffer, maximizing tax-advantaged retirement accounts, and being a deadbeat with credit cards.

From the video

Answers: What are the three most important personal finance rules to follow?

• personal finance
• emergency fund
• tax-advantaged retirement accounts
• credit card management
• investing and dividends

What it concludes

• Building an emergency fund of at least 500 dollars helps you handle unexpected expenses without getting into debt.
• Living on last month's income provides peace of mind and stops paycheck-to-paycheck living.
• Using tax-advantaged retirement accounts like IRAs and 401ks reduces your current taxable income and helps your investments grow much faster by avoiding tax drag.
• Being a deadbeat—paying your credit card balance in full and on time every month—allows you to earn rewards and build your credit score for free.
• Keeping your credit utilization under 30% helps build a good credit score over time.