Who Needs Rules?

I have a very energetic nephew who is exceptionally smart and very strong-willed.  He is known throughout our family for his energy, enthusiasm, and strong will.

He was recently playing a game and began gaining a significant advantage – by violating the rules of the game.  He was told, “That’s against the rules.”

His priceless response?  “I wasn’t playing by the rules.

This response reminds me of so many people who are completely broke.  They KNOW the rules, but they choose to ignore them.  Here are some fundamental money management rules that are regularly and routinely ignored.

  1. Spend less than you make
  2. Save money for a rainy day
  3. Give money away
  4. Plan your spending BEFORE you actually spend
  5. A budget will allow you to maximize your money
  6. Invest money every time you receive money
  7. Save for emergencies
  8. Save for known upcoming non-monthly expenses
  9. Save for dreams
  10. Always ask for a better deal
  11. Pay cash for items that drop in value
  12. Avoid debt that will strangle your plans, hopes, and dreams
  13. Maintain healthy financial margin

What rule do you wrestle with the most?  What rule(s) would you add?

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