Quite Simply, The 5 Most Important Money Rules
1. Have you ever tracked your spending habits? Are you terrified to find out what you REALLY spend your money on? I once tracked my money habits down to the last penny for two years. I found out I was spending most of my money on miscellaneous items. Itunes, Amazon books, nice clothes, car repairs, dinners out…etc. It’s incredibly easy to spend money on fun or emergency items. Until you actually see the facts, you have no fucking clue! Facts will help you! Stop being scared and face reality. Track your spending.
2. Hide your money and hide it well. I have repeated this a million times. Out of sight out of mind. Have part of your pay check deposited into a 401k. Make it as difficult as possible for you to extract money from your bank account. Whenever I see my bank accounts with a little extra I say, “Hey, I deserve to spend that little extra”. Justifying spending that little extra is way too easy! You will never build up a nest egg thinking this way. Hide it!
3. Live within your means. The number one rule in money is to STOP spending more than you earn. Stop using easy credit. Stop buying houses you can’t afford. Stop keeping up with your friends, family or neighbours toys. Your ego is your biggest enemy. Live simple, live free, and live happy!
4. Find out what money means to you. Is it just there to pay your bills every pay check? Is it a way to impress your friends? Or is it a convenient way to pay for items? Are you buying stuff or are you buying experiences. Experiences can last a lifetime while stuff never does. Find out what money means to you. Control it before it controls you!
5. Hang out with your friends and appreciate nature. Turn off the TV. Avoid advertising. Money is only paper to pay for items in your life. Life is about living each and every day with joy, meaning and happiness. You don’t need money for this. Surprised? Don’t be. Go out and meet your friends and have a great time. Did that cost a lot? No. It’s a fact that your connection with your friends brings you the most happiness in life. Paper money doesn’t even come close. Love nature and love your friends. They will love you back. Money doesn’t.
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Tags: Breaking Bad Habits, how to save money, save money, wealth