This SNL clip from nearly a decade ago still teaches you everything you need to know about personal finance

Don’t buy stuff you cannot afford.

That’s the title of this Saturday Night Live sketch from 2006, featuring Steve Martin, Amy Poehler, and Chris Parnell.

It’s also a fantastic, solid piece of personal finance advice, and has been for the last nine years.

Here’s how it works:

NOW WATCH: JAMES ALTUCHER: Why investing in a 401(k) is a complete waste of money

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at