Money: Financial, Economic News and Money Saving Ideas

7 Golden Money Rules That Apply to Everybody

Written by - Reviewed by Glozine Team

Published: Sep 30, 2014 | Last Updated: Aug 17, 2016

If you think you’re immune to some money rules because you think you have more than you can even spend in a lifetime, you’re wrong. Money rules apply to every individual – to broke people and to extremely wealthy people.

  1. Spending money to show off is one of the surest ways to lose money. Rihanna is one of those popular successful artists who went bankrupt because of overspending. As a result, she sued her financial adviser and his response was this: “Was it really necessary to tell her that if you spend money on things you will end up with the things and not the money?”
  2. Wealth is relative. If you’ll compare your little and major successes to the people in America, then you’ll see that your success is ordinary. But if you’ll compare it to the rest of the world that isn’t in America or Europe, you’ll feel rich. Feeling rich really is just a matter of perspective.
  3. Invest to maximize returns; not because you’re bored. Remember that investing is a serious game. If you’re in it for a game, fast return and the thrill, then you’re better off gambling. 
  4. Create a gap between your ego and your income and that’s how you can build wealth. Really, this does not require much explaining. 
  5. Don’t give a sh*t about what others think. That’s the most valuable asset.
  6. Study your failures because you’ll learn more from it than from your success.
  7. Anything is possible so better prepare yourself from the things you think aren’t going to happen. 

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