It goes without saying that everybody is trying to make more money these days. The problem however is not that people aren’t trying but that they don’t actually know how to handle money. In some cases have very little clue at all. That’s not a condemnation it’s just the way it is.
For the people who realize that they don’t have any money handling skills there is hope however as today we are presenting a blog on that very subject. Aren’t you lucky?! We’ve got for you today a dozen money rules that, if you use them and live by them, will help you in every facet of your financial life. Enjoy.
1) Spend less money than you earn. If there was one rule that is more important than any other is this one. The person who can spend less than they earn is the person that will always have money available when needed, will never run into financial problems such as bankruptcy and will have a nice nest egg set aside for themselves once they reach retirement.
2) Start saving right now. Any way that you can, any place that is possible and using any tool that you have available start putting money away for emergency funds, for your child’s college education and for your retirement.
3) Rather than waste time overthinking your investments just invest.
4) No matter what it is that you’re purchasing try to avoid high interest debt at all costs.
5) Talk to a money expert about money. Your banker, a successful friend or family member or anyone else who you can think of. We’re not necessarily saying that you should take this person’s advice, just that talking about money will open up your mind to new ideas that you might not have otherwise heard of.
6) Stop trying to keep up with your neighbors and family. Be happy with what you have.
7) Keep an eye on your financial progress but don’t go crazy overanalyzing it.
8) Anything that you purchase, from a new plastic spoon to a multimillion dollar house, take good care of it will and maintain it well.
9) When you can, do everything yourself. Of course there are limits to what you can actually do but there are many tasks that people pay someone to do that they could easily do themselves, some of which will save thousands of dollars.
10) Make a plan on how you’re going to spend your money before you go to the store. (Any store.)
11) If possible, do something that you feel true passion for and follow that rather than following the money. Usually what will happens is that the money follows you.
12) Do something on a very regular basis to improve yourself. Learn a new language or a new skill.
If you can really take these 12 Money rules to heart and use them throughout your life we guarantee that by the time you retire you will be more than well prepared to live in a comfortable lifestyle.