College is long on theory but short on application, long on ideas but short on reality, long on book learning but short on real world experience. I think people without college degrees sell themselves short by thinking that they’ve missed the boat, but my experience ^[2] says that, while a degree is worthwhile, it isn’t a requirement for success in life. ^[3]

Some of the most successful people in the world have learned how to be successful in their personal finances by incorporating three simple ideas:

1. Spend less than you earn. Whoa! Stop the presses. Here’s a revelation for the ages.

There is a stack of money that you bring home each pay period. Your goal is to NOT use it up. By creating a gap between what you earned and what you spend, you set yourself up to have “disposable income.” Your goal is to increase that disposable income as much as possible by either spending less or by earning more.