The Ten Commandments of personal finance

By Len Penzo

For Len Penzo dot Com

Published: Tuesday, Sept. 10 2013 1:40 p.m. MDT

It’s absolutely critical that married couples keep their communication lines open — especially when it comes to the household finances. Regularly assess and update your goals and progress, and be willing to compromise. Better yet, split up the financial duties; the Honeybee and I do. In fact, we work as a team and run our household like a business.

9. Blessed are those who knoweth a high income doesn’t beget financial freedom.

Financial freedom is a state of mind, as much as it is a state of being; so it can be achieved regardless of household income. Those who understand that have a much easier time keeping their personal finances under control than those who don’t.

10. Undertake thy chosen vocation for love, not money.

We achieve satisfaction at our vocation, whatever it may be, through a job well done; but for most people to be able to do this on a consistent basis, they have to love what they do. So do what you love and, if you’re patient, the money will eventually follow. I promise.

This is an updated version of an article originally published on April 3, 2009

Len Penzo is a personal finance blogger with a strong disdain for debt. His blog, Len Penzo dot com, has been featured as one of Kiplinger's Personal Finance Best Money Blogs in 2010 and 2012.

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