Tried and True Money Rules

Many people have gained their wealth the old-fashioned way with no need for pricey investment brokers or knowledge of Wall Street financials. No get-rich-quick schemes. No strokes of sheer dumb luck or inheritances from rich relatives. Smart people slowly build their wealth in steadily, quietly by following these three tried-and-true money rules. 

“Spend less than you earn”
Simplest money rule is to spend less than you earn. If you don’t have the money, don’t buy. Don’t charge your purchases on credit. Too many of us don’t realize that we can get along without a lot of things. Rethink what is a priority. Sure food is a priority but can you eat a few simple meals now and then? It doesn’t take much calories or nutrition to fuel your day. In fact, many people can benefit from the occasional health fast which is to abstain from food for 24 hours (children and the infirm should not fast!)

We’re a spoiled nation, used to getting what we want now. You’ll find life goes on when you do without. And when you find yourself doing without a lot of the time, it is a good motivator for earning more.

“Pay yourself second.”
The actual saying is, “Pay yourself first,” but it’s important to give some money away first whether you tithe or donate to charity. Giving money away is a regular practice among the wealthy because they know that there is a universal law about money that brings money back to the giver. But the next vital step in this is to pay yourself second. By doing this, you’re planting seeds of wealth to grow.

Your “pay” should go into that savings that is set aside for your “working” money, the money that will work for you by earning interest. It doesn’t have to be a lot. Be even a little, if never touched, will grow magically.

“If you take care of the nickels, the dollars will take care of themselves.”
This gem came from a successful businessman who taught my husband a lot about money. When one pays attention to the little expenditures, the money leaks get plugged. The waste is cut out of the budget. Somehow, we don’t bother to count the tiny money expenditures the same way we don’t count the calories from tiny nibbles, but both add up. 

Perhaps you’re heard these money rules, but do you follow them? Just do it and grow rich.