HOW TO LIVE POOR AND DIE POOR
Never borrow money with interest to start a business (except for salary loans); only borrow to grow your business. This is because business takes a long time to gain ground and begin making profit yet for most of the loans you begin paying back a month later or even earlier. Hence, never borrow to start a business expecting that business to be the one to pay back the borrowed money plus the interest.
Never spend money you haven't received. Don't even promise someone money based on a promise you have from someone else. Don't hear somebody say, "Ezra come to my office tomorrow at 9am and pick 2m" and you go and buy items on credit hoping to clear when the promised money comes.
If you want to ever save, whenever you receive money ensure you don't start spending before taking out the savings hoping that you'll save what remains. Normally what remains is zero. And things to spend on even incite their 'relatives' while when money to spend is not available we naturally find a way of managing.
When you get an opportunity to meet a wealthy person, never ask for money. Ask for ideas on how to make money. They can even choose to give you money on their own volition after seeing that your ideas are great, but let getting money from them never be your main objective.
Keeping your seed instead of planting it. Many people stop at saving. It's very, very difficult to save and have all you need to maintain your lifestyle especially after retirement. When you save, your savings are seed; plant it. When you just keep it some seeds begin to die (eaten by inflation and the likes). That's where I recommend that you read about the different types of investment you can use to grow savings. I am not necessarily talking about putting the money in a business because you can easily lose money on a business. I am talking about putting it in an investment.
Never lend someone money you are not willing to lose. By the time you lend money, be contented in your heart that should the person not pay, you will not die. You should not even lose the person as a friend. If you realise the person can fail to pay you and you are ok, then lend. If you find you would even hate the person's entire clan, please advise the person to go to the bank.
Never append your signature to guarantee someone on a financial matter if you are not willing or able to pay the money. Do I have to explain that one? No. It's self-explanatory.
