GUEST POST: How to not get stung by the Money Bee.

L Bee Says: How could I not post a guest piece that tied my blog moniker into the title? Aside from that, Uncle El provides some really straightforward, awesome tips on how to stay on top of your money. Happy Wednesday!

Have you ever wondered what it is like to get stung by not doing right by your money? Having a positive net worth is a direct correlation of what your money habits dictate it to be. I keep hearing and reading all over the blog world about all the goals people want to achieve money-wise, but then for some reason many fall short of accomplishing them. Even those not a part of the blog world may have all the desire in the world to suceed, but never really let the motivation come to fruition.

See below for my list of how not to get stung by bad money habits.

 Do Not Get Stung:

• Shed all fears of investing, it really is not that hard. Jump in with a little and increase every quarter.
• For gosh sakes DO NOT borrow money, point blank and period. (15-20 Year Mortgage only exception to this rule)
• Avoid snakes- Whole life insurance agents/ Anyone looking to take advantage of you. Be wary of Sales men in general.
• Cook more at home; try to be more self-sufficient in life.
• Save up for large future expenses. Set aside a replacement savings acct for anything that has an expiration date.*
• Read more and learn more. Blogs / Books / Anything you enjoy reading
• Budget your money every month and always pay yourself first.
• Take advantage of the time now, let your investments compound and reinvest a lot now so you can have more later.
• Calculate expenses by percentages off your annual income. That $2000 purse is 12% of your annual pay, maybe not the best purchase when in debt.
• Do not have a rent or mortgage payment that exceeds 35% of your income. Avoid being house poor by staying under not over.
• Car Loan payment more than 15% your monthly income- it’s time to pay it off or sell it.

I hope you can see the reasoning behind these do not get stung personal finance ideas. I guarantee if you implement these things in your life you will not regret it, as you will be relieved and more at ease about your financial situation. That notion behind buying what you want now (aka Credit Cards) is slowly dying and you do not want to be the last one still doing something like that, do you? Watch your Money!

About Rich Uncle El: I have been a personal finance blogger for over a year now and you can find me at my site, Money Watch 101.  I enjoy sharing my thoughts on how to manage your finances and how to incorporate basic money principles in your life. I hate debt and recognize that as a society we are losing time, energy and money by having it than by being free. (Student loan Debt- Be Gone!)