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Mike Mintz wrote on 29 Aug 2010 7:03 AM

I love, love, love, love this post you shared.  As someone who came out of law school with massive debt, both credit card and school, this advise is solid (even three years later).  The three points:

1. Get rid of credit card debt

2. Cash is king - don't feel you have to invest in risky things you don't understand

3. (My favorite) Saving 15% per year on shopping items you buy regularly is a better return that 15% made in the stock market (b/c you don't pay taxes on the return!).

Brilliant.  I have always felt that cash is a great thing to have on hand, and will usually only invest in mutual funds that have a good percentage of available cash.  When markets tank and stocks become cheap, one of the worst things is to watch bargains evaporate b/c you don't have liquid funds to invest with.  Thanks for sharing this, and I hope all law school grads take a look at the post.