10 Money Rules to Live By

I put together the ten money rules to live by that I think you need to succeed financially. 

Everyone has the rules that they live by. For every part of life, we have some basic tenets that we follow. Money is no different. There are money rules that need to follow to be successful in managing your money. These basic but crucial rules are a really important part of creating a financial plan.

Expenses, debt, and savings can all play a role in our financial lives. While it’s easy to get bogged down in numbers and occasionally forget what really matters, it’s essential to keep in mind that the heart of finance is about living – not only making your dollars work for you.

Here are my ten money rules that I believe you must follow to be successful in your finances.

10 Money Rules to Live By

You Need a Budget.

I’ve said it before, and I will repeat it. YOU NEED A BUDGET. An actual, written budget. Of course, part of making a budget is actually sticking to it but believe it or not, that is usually the easy part if you made the budget correctly in the first place.

How to Make a Budget That Actually Works

Your Budget Needs to Work For You. 

but it needs to be a budget that WORKS. A budget that only deals with the money you actually have and not the money you think you have or the money you wish you have. All the budgeting advice in the world won’t help if it’s not a budget that works for you and your circumstances. For example, if you are a gig worker, you can’t have the same budget set-up as someone that is paid a salary. So it won’t work, and you won’t be able to follow it.

How to budget when you are paid by the hour 

You Need an Emergency Fund.

Having an emergency fund is one of the most brilliant things you can do for your financial stability. Life happens. Cars break. People get hurt. Medicine needs to be bought. Jobs get lost. People die. People get very sick. Essential appliances get damaged. Having an emergency fund to help whether that storm is one of the smartest and best ways to set yourself up for financial success. Ensuring that an emergency does not derail you is the best thing you can do for your financial future.

Everything you need to know about Emergency Funds

You Need to Have a Savings Plan.

In life, there are expected expenses and unexpected expenses. It would be best if you had money set aside for both of these things.  Setting savings goals – which has to include saving for emergencies and retirement- and then creating a spending plan to reach that saving goal is the key. Make sure that saving money for the future (whether that means in a week, a month, a year, or ten years) comes before anything else.

Ultimate Savings Guide: All Your Questions Answered

You Need to Save for Retirement.

It doesn’t matter how old you are- it is a good idea to start saving for retirement. While you can always turn your retirement plan around, the truth is that starting to save early is one of the best things you can do for your financial future. The longer you wait, the more you’ll need to save each year to make up for that lost time.

The money you invest in a retirement account grows over time, so you’ll end up earning more returns by investing now rather than waiting until next year. When it comes to saving for retirement, time in the market is always better than timing the market. No matter how you choose to invest, the most important thing is to start contributing early.

Choosing the Best Retirement Accounts

You Need to Give Charity.

Money is a tool that we can use to better our lives and the lives of the people around us. That means that you do have a moral obligation to help people who are less fortunate than you. Acknowledging this obligation means endeavoring to give as much charity as you can. I like to give 10% to start (following the biblical obligation to tithe), but any amount is a good start. 

Charitable Giving: Time to Focus on the Importance of Giving

You Need to Incorporate Mindful Spending.

Mindful Spending is spending money on what you need and what brings you joy and acknowledging that. Mindful spending means taking the time to appreciate where your money is going and what your money is doing for you. Mindful spending allows you to have joy and contentment when you spend money wisely.

Do You Practice Mindful Spending?

You Need to be Hopeful and Prepare for Good Times.

Like I encourage you to be ready for when times get worse (by saving NOW and building a robust emergency fund), I encourage you to prepare yourself for when times get better. This preparation can involve educating yourself about investments and wealth management.

This preparation can mean planning for a new career or new opportunities for yourself. However they play out in your life,- plan and prepare for the good times to come.

Preparing for The Good

You Need to Educate Your Children.

If you are a parent, you must teach your kids essential life skills, including money management. Basic financial literacy for kids is a necessary part of educating your children. Parents have a responsibility to teach their kids about money. Financial literacy is a life skill, just like anything else.

As parents, we must teach our kids basic life skills, and that includes talking about money. Basic financial literacy for kids is an important part of educating your children.

Financial Literacy for Kids: Why it’s Important

You Need a Process, not Quick Fixes.

No- Spend Challenges may feel good and be fun to post online, but they will not help you accomplish your goals. Fasting or binges don’t work. This concept is true for personal finance as well. Sticking to a budget works. Your budget should include the shopping you need to do and the occasional treat.

However, a money-saving challenge (as opposed to a no-spend challenge) CAN work because it encourages and motivates you to change your behavior in small ways. So ditch the no-spend, feel-good challenge and encourage yourself to do a slow and hard but worth it changes in your lifestyle that actually will stick. 

No Spend Challenge? This is Why It Won’t Work

Money Rules to Live By

These ten basic money rules to live by are the key to having a successful and balanced approach to money. Following these simple money rules will get you on track financially and lead you towards success.


Hi! I am a millennial mom with a passion for personal finance. I have always been “into” personal finance but got inspired to start my blog after a period of extended unemployment. That experience really changed the way I viewed my relationship with money and the importance of accessible personal finance education.

1 thought on “10 Money Rules to Live By”

  1. Really really good advice there. I have only recently started being honest with my budget and making sure every little thing is covered otherwise you end up chasing your tail! Also I haven’t got a company pension as I never took one before i became a stay at home mum. I have now been paying into a private pension and although it’s a small amount, it’s a start!


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