FIVE FOUNDATIONS

SAVE A $500 EMERGENCY FUND

• Save your allowance
• Get a part-time job
• Become an entrepreneur
• It is a good idea to open a separate savings account
• Not an investment
• Money for unexpected things to happen

GET OUT OF DEBT

• Student loans
• Money borrowed from parents
• Car loans
• Take small amounts from all sources of income to help stay out of debt.
• "In 2012, only 27% of all point-of-sale purchases were made with cash, and that number is expected to drop 23% by 2017."

PAY CASH FOR YOUR CAR

• If you don't currently have the money, wait. Don't use your credit card.
• To gain the money, put money aside over time to gain enough to pay for it with cash only.
• Do buy into the myth that loans are your only option.

PAY CASH FOR COLLEGE

• Look to scholarships or different government aids for money if you currently do not have it.
• Consider taking a year off and gaining income to help pay for college.

BUILD WEALTH AND GIVE

• "80% of America's millionaires are first generation rich."
• Wait until you finish paying off all your debt to start building wealth.
• Live on less than you make
• Giving money makes you more appreciative of what you have.