mine would be pay yourself first and live below your means.
Also dump as much money off your debts while you are both working to give you a HUGE headstart in life.
C

For every raise my husband gets, we add half into the budget and divert the other half into savings. It's really hard to do this, as our budget is still missing a few important categories like life insurance, clothing, and dining out--but if we don't, we'll never achieve financial freedom. Raises are expected every year, but the amount is not set in stone, so I think of it like this: what if we only received half the amount of the raise? We'd deal with it.

Save money.

For years I was so proud of how much money we saved from every paycheck. We were living way below our income. Yet to look at our bank accounts and investments we had virtually nothing. What happened? We weren't really SAVING money, we were merely setting it aside until a big bill came up or we decided to pay off a loan (auto loan or credit card).

Save money with the intention of NEVER spending it - not for college, not for the first house, not for retirement - NEVER. It was a very difficult leason for me to learn but it finally sunk in that if we could achieve 'critical mass' (which is enough money in savings where we can live off the interest and never touch the principal) then we would be truly independantly wealthy.

I wish I figured that out years ago.

__________________
"I've been rich and I've been poor but independently wealthy is where it is at."

My blogs:
Oh!: http://oh-cookie.blogspot.com/
The Foundation Club: http://thefoundationclub.blogspot.com/
12 Months to a Homemade Christmas: http://12monthstoahomemadechristmas.blogspot.com/
Experiences, Not Things: http://experiencesnotthings.blogspot.com/

If you'd like to be friends on Facebook, PM me.

"Pay yourself first"


I never really got this until a few years ago..even if it means just saving $10 a week...it's something, and it's better than nothing!

__________________

DON'T GET INTO DEBT.

I wish someone had told me this and I would of listened!!! I would even recommend saving a big chunk for your house so your payments are not to high. If you don't have debt you are much better off and you can think about saving.

I heard about a couple who are both doctors (keep in mind that even if they are well paid, in Canada doctors are not as rich as in the Unied States). They decided to save money to pay their first house cash. They bought a simple house (170 000$ - that's a medium size house in my town) cash. They say now they feel much more freedom and security. I think that's a great example of people who don't care about what other people think and just doing what is right for them.

__________________
Marie - SAHM of DS Benjamin (april 2004) and DD Rose (march 2006).

Here is my advice for newlyweds, kids freshly out of college or just those who are buying their first house.

-You don't need everything to be new and perfect. You can deal with a used car, Mom and Dad's old sofa, and less than perfect decorations in your home when you are starting out.
I know it is exciting to make the big bucks as soon as you are out of school, but it is no fun when you are still making payments on that new car, new leather sofa, and flat screen TV 10 years later.

To sum it all up....Living below your means is the way to go!

I suggest it to anyone! Hire a Financial Planner! If your really serious about saving for future things like vacations or vacation houses, or a bigger house, retimerment, kids college, ANYTHING! It is pretty expensive, but you'll know more about your finances and be ahead of the game. The sooner you do it, the better of a track you'll be on. I love my FP!