From Book Lessons to Life Lessons

I am writing about a “life” subject this month. The one thing we all share in common, whether we have just graduated or we graduated years ago is the guarantee that you will be harder and faster by ECONOMICS than anything else you will face. After experiencing life, running my own business, making payroll, the mortgage payment, the car payment, the list goes on and on, I have learned a few very valuable tips that I hope will help you in your “life” journey. So, rather than learning them the hard way as so many of us have had to do so in the past, please consider a few of the following things:

  1. DO NOT CO-SIGN with anyone (other than your spouse) for anything. The stories of people co-signing and getting burned are longer than any Encyclopedia set I know of.
  2. Next to #1 is DON’T loan money. The stories of people not getting repaid is also longer than any Encyclopedia set I know of. Indirectly, co-signing is just like loaning money because you are guaranteeing the lender you will pay for someone else’s debt if they don’t. Tell me again how this really helped YOUR economic situation?
  3. ALWAYS, ALWAYS pay attention to interest rates. Interest NEVER, EVER stops from the day you take the loan out until the day that loan is paid in FULL. If you don’t really understand how interest works, learn NOW, not later.
  4. Until you have the luxury of making all the money you want too, don’t spend more money than is necessary on anything. Example, you need car to get to work, school and other necessities; you don’t need a car to impress the thousands of other motorist you will never know or meet. As a wise man once told me, a poor way to judge a man is by the car he drives.
  5. BE CAREFUL who you get your advice from. For example, is the person whose got the best deal for you on your retirement plan doing something other than retirement planning? Just like you’ve heard from the time you were old enough to listen, if it sounds to good to be true – IT IS!
  6. OVERNIGHT SUCCESS strategies don’t work! Your success with economics will come by learning and applying as much as you can about how to increase your income, decrease/manage your expenses, decreasing interest rates, and using credit only when absolutely necessary. Unlike the government, there is no such thing as living on LESS than EARN for decades on end. Also, unlike the government, it is illegal for you to print money when you run out.

I hope this helps you as you begin the journey to your next step in life. Don’t let economics ruin your future plans before you get a chance to really get started! For more information, simply drop me an e-mail at


Take care and God Bless!
Douglas Dykes
Syfrett, Dykes & Furr Law Offices, P.A.
311 Magnolia Avenue
Panama City, FL 32401
(850) 785-3400
Personal Injury, Automobile Accidents, & Wrongful Death Cases


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