10 Best Money Decisions I Ever Made

In my younger years, I made my fair share of money mistakes—buying things I couldn’t afford, not saving enough, and living paycheck to paycheck. But over time, a few key decisions helped me turn things around. One of those moments came when Mary and I sat down at the kitchen table, determined to finally get ahead instead of just getting by.

Maybe you’ve wondered which money moves really make a difference. I’ve learned it’s not about big windfalls—it’s about small, smart choices made consistently. Today, I’ll share the ten best financial decisions I ever made, and five you can start applying right away.

1. Establishing an Emergency Fund Before Anything Else

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I first experienced a car breakdown, and it made me see how important having a financial buffer is. Rather than panicking or getting into debt, I used my emergency fund and went through it with ease. That experience made me resolve to keep the equivalent of three to six months of expenses in cash.

2. Investing Early, Even When It Felt Small

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At age 22, I began putting small sums of money into index funds, figuring it was for naught. A decade on, compounding taught me differently—those little chunks added up to a legitimate portfolio. The earlier you start, the less difficult wealth accumulation gets.

3. Saying No to Lifestyle Inflation

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When I received my first substantial raise, I was actually tempted to change my car, apartment, and wardrobe all at the same time. But I resisted, opting to maintain the lifestyle I had and putting the money in savings. Doing so set me ahead by years, with others burdened with paycheck-to-paycheck living.

4. Paying Off High-Interest Debt Aggressively

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Credit card debt was my biggest money blunder, but getting out from under it quickly was my best decision. I fought it with every spare dollar I possessed, living simply until it was eliminated. After I was debt-free, my money actually began working for me rather than against me.  

5. Negotiating My Salary Every Chance I Got

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Early in my career, I discovered that wages aren’t fixed. Every time I changed jobs or received a promotion, I negotiated—sometimes clumsily, but always successfully. Those discussions put tens of thousands into my lifetime pay for mere minutes of awkwardness.

6. Automating My Savings and Investments

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I arranged for automatic deposits into my savings and investment accounts even before I received my paycheck. This eliminated the temptation to spend and made it easy to build wealth. Out of sight, out of mind—but my net worth continued to rise.  

7. Purchasing Experiences Instead of Stuff

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For years, I believed that spending money on the newest gadgets and trendy clothing would bring me happiness. But the best money I ever spent was on vacations, concerts, and memories with loved ones. Memories gain value over time, material possessions fade.  

8. Owning Rather Than Renting (At the Right Time)

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I waited until I was financially prepared to purchase a home, resisting the urge to “stop renting” too early. When I was ready, I purchased a home in a solid market with a decent mortgage. Now, I accumulate equity each month rather than paying another’s.

9. Launching a Side Business That Paid Off

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Rather than burning my nights away watching shows, I created a side business that eventually generated real money. Extra money turned into a serious economic boost, allowing me to have choices and feel secure. And now, I’ll never need to depend on one paycheck alone.

10. Learning That More Money Doesn’t Equal More Happiness

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At one point, I believed that an increase in income was the key to happiness. However, true financial peace was achieved by making do with what I had and managing it well, rather than producing more. True wealth is freedom, not merely figures in a bank account. Looking back, these decisions shaped the life I enjoy today. None of them required luck or perfect timing—just clear priorities and steady action. Here are five smart decisions you can put into practice:

Start saving early: I opened my first savings account in my twenties and treated every paycheck like it was a little smaller, automatically setting aside ten percent.

Live below your means: Even after getting raises, Mary and I kept our expenses simple. We kept driving our used sedan and avoided lifestyle inflation.

Take full advantage of employer retirement plans: I contributed enough to my 401(k) to get the full company match. It was like getting free money every paycheck.

Pay off credit cards in full each month: After learning the hard way, I stopped carrying balances and made it a rule to only charge what I could pay off completely.

Invest in reliable insurance: We never skipped insurance on our home or car. When unexpected accidents happened, the coverage saved us thousands in potential costs.

Start applying even one of these decisions today. Over time, small choices like these build the foundation for financial stability and peace of mind.

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