Personal-finance lessons from an ex-con

Here's something you don't see every day: a personal-finance post by an ex-con. "Prison taught me everything I need to know about personal finance" was written by Roger, a 34-year-old former client of "MGL" and posted at MGL's site, MoneyGrubbingLawyer. (Thanks to Financial Reflections for the link.)

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It's an unusual perspective on PF topics. For instance, while we all know that debt causes stress, most of us don't have to worry that "your creditor will settle things with a shiv." 

Here are a few more of Roger's observations:

You can't beat the system. "Stick to index funds; if you want to gamble, go see Slick in East Block for a game of craps," Roger says.

"Don't punch above your weight." If you can't manage credit or debit cards, put them away.

You are your own greatest asset. Keep improving your skills and your earning potential. Prisons are full of people who never learned that lesson.

We'll leave you with this beautiful thought from Roger, who learned it the hard way: "My time locked up has taught me lots, but the greatest lesson is that simple is beautiful. Happiness isn't about material possessions, or drugs, or money, or even love. It's about self-acceptance and inner peace."

Here's the link to: "Prison taught me everything I need to know about personal finance."

Related reading:

• Invest in your own happiness
• 10 bad habits that lead to debt disaster
• Simple living yields simply millions in savings