Ten Financial Things to Stop Doing in 2006

Not the usual yearly top-ten list, Bankrate.com columnist Don Taylor comes up with ten things you should NOT do in 2006. At the top:

1. Stop spending more than you make
It's really the key step in moving forward to achieve your financial and life goals. You have a limited amount of income that you can allocate between current consumption, investing for future goals and perhaps paying for past consumption. If you keep spending more than you make you're limiting your choices in the future.

John and I aren't the sharpest tools in the shed, but the one thing we do right is we don't live beyond our means. We didn't even live beyond our means in the couple of years when we had money. In any event, these ten "don'ts" are well worth putting into practice.

Hat tip to Lifehacker.

Categories: top_ten, resolutions, finance, debt