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10 Rules About Money

How we view money has a profound impact on all facets of our life.  It determines where we live, the type of job we have, how we look at the world, and, unfortunately, how we feel about ourselves. Money has the power to do great things, but it can also destroy the mightiest empires.

Each of us has to determine what our relationship with money will be. 

You have to learn how to earn it, save it, spend it and invest it.  These can be hard lessons, but you can use a few simple rules to make your life a lot less stressful.

1.               Control your spending or it will control you.

2.               Work smart for your money.

3.               With savings and investments, have your money work as hard as you do.

4.               Minimize or eliminate high-interest debt (i.e., credit cards, rent to own, payday loans, buy now/pay later loans, etc.).
 

5.               Surround yourself with people who know how to use money wisely.

6.               To earn more—learn more, do more and think more.

7.               Put at least 5% from every paycheck into a savings account. 

8.               Don’t let money determine your self-image.

9.               If your company has automatic deposit for your paycheck, use it.  

10.           Remember:   It’s not how much you make.  It’s how much you keep.

With these rules you will be able to live the type of life you want—whatever that means to you. 

Suggestions for Implementation:

1. Find a mentor who can teach you about the fundamentals of money.

2. Have an open family discussion about money.

3. Look on the Internet about starting an investment club.

4. Think of your last major purchase.  Did you really need the item?  Or did you simply want it?

9/25/06

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