9 Personal Finance Rules Everyone Should Follow


One thing about personal finance is that it is not personal or financial, it is the ability to make major changes to your finance and not getting too depressed about it. Personal finance includes earning, budgeting, saving, investing and of course spending your finances. Here are nine rules to personal finance that will help you get by.

Have a Source Of Income

You cannot start planning for your personal finance if you do not have the finances to plan for. So, get your ass up, work and make money. Personal finance is not for everyone, especially it is not for the lazy.

Keep Your Personal Finance Records

Always have a record of how much money comes in and how much money goes out. This will help you know your most expensive habits and your most profitable ones.

Always Have a Working Budget

A budget helps you know how to prioritize your expenses. Also, it helps you with your spending habits. Now, it is one thing to have a budget and another to follow through with it. It takes high levels of discipline to follow through with it. However, for you to achieve your personal finance goals, it is essential to be disciplined and follow through with your budget.

Have Multiple Streams Of Income

This will not happen all at once. However, it is important to have more than one source of income. The future is so, unpredictable, you might lose your job tomorrow or your business may fail today. Having more than one source of income will give you a sense of security when it comes to personal finance.

Save Your Money

Save for a rainy day. set up an emergency fund account. As I said, anything can happen and your saving can help you go a long way as you figure out your next move to earn income.


There are many ways to invest your money. Some investments are stupid, while others are risky. My advice, when it comes to investing, invest in something that increases in value, or something that will give you quick money, in that by the time that thing is becoming useless, it has already paid for itself and left you reasonable profits. (a lesson I learned from being broke) I have not said you gamble your money away.

Borrow wisely

Before you borrow money, always have a good reason on why you are doing that. Also do a thorough research on whom you are borrowing from. lookout for hidden charges and get advice from people who have previously borrowed from that lender.

Pay Off Your High-Interest Loans First

If you can, avoid borrowing from more than two lenders. However, if you have more than one loan, always pay the one with the highest interest rate first. This will help you save a lot of money.

Improve Your Financial Literacy

Do not stop acquiring skills and knowledge that will allow you to make informed financial decisions. Learn the new financial trends, learn how to invest your finances and learn how taxes work. It is very important.

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