7 Rules of Money | How To Be Good With Your Money

In this video, I share the 7 Rules of Money and how to be good with your money!
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Music Credit: Bensound - Dreams

DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

7 Rules of Money

Rule #1:Pay yourself first
Rule #2: Saving Will Never Make You Rich
Rule #3: You Must Live Below Your Means
Rule #4: You Must Have Emergency Funds
Rule #5: Use Debt Wisely
Rule #6: The More You Learn, The More You Earn
Rule #7: Money Won't Make You Happy

[hoboonwheels]

I would add an 8th rule, be grateful for the money you get, and manage it out of gratitude.

[ericdelafuente]

I watched my dad struggle with gambling for years and I also went down that road. At 45 I thought poker and black jack were more lucrative ways to multiply my savings but I was wrong. It took me 4 more years and an my wife to quit and try passive income in the fx and stock market. Now portfolio's growing and this year my figures keep growing with every upflow

[luarbiasa]

7 RULES OF MONEY:
1. Pay yourself first
METHOD: 50 living/30 fun/20 saving (automated deduction)
2. Saving will not making you rich
3. You must live below ur means
4. You must have emergency funds
5. Use debt wisely
6. The more you learn..the more you earn (read 5 hrs a day)
7. Money won't make you happy

[katrinakaye]

My no.1 money saving rule (for myself at least) - avoid all malls at all costs!

[evelyndumekenechuku]

My rule number 1”nothing is too small for you to save “

[kevinsands]

As an 8th rule. Give away a certain amount. I've given away cars to family and friends that were in need. Not an expensive car mind you but good transportation. I give through my church. Never loan money. Give give give. The more I give the more fruitful I become bit seems I can't give enough. People think I'm full of it, but it works. I've done the other 7 rules. They are all great advice.

[RichQuani]

I’m 13 but I’m still planning my future.At the moment I have three ways to separate my money.
1)Blow Out Money for Fun
2)Saving for Rainy Days
3)Investing

[sweeneagle]

Great video. Awesome animation too. I also added an 8th rule for myself. "Rules are great, but action is everything." Felt the need to remind myself of that instead of only absorbing information or waiting until "the time is right".

[Yungmillah]

Another good rule: If you can’t buy it twice, don’t buy it once!

[luisgreggonz]

This is helpful. I wanna start preparing for retirement on time and would appreciate some investment advice...thanks

[sayyer]

Just came across your channel and subscribed. It's too late but not giving up hope yet because in the past 2 years I've lost so much money being scammed, over US$20K plus. I am going to follow your channel and fight my suicidal thoughts, crawl back out of the rabbit hole, persevere, think positive, stay strong and get back my life. It's not going to be easy but I will try!

[kitchensproductions]

My money rule is: shrink the outflow and enlarge the inflow.

[justtheojc]

Very informative video it is. Emphasis on diversification. Given the pressure to earn enough to make ends meet, you would think that low-paid workers would be clamoring for raises. But this is not always the case. it was in my best option to invest with anmol Singh. Great thanks.

[godschild]

I'm very hard worker but I don't know how to manage money that's why I'm always broke. But this video will help me to start investing money wisely

[thirdgen]

Resisting the urge to spend is the hardest bit. Sit on that money and don't touch it. I squandered so much money away when I was younger and I am kicking myself in the ass for it, but I'm also saving money as I do it lol. I adopted the mindset I had when I was only living off of $400 a month to pay rent and eat when I started making a better wage at an actual job instead of an odd job as it used to be. I still pretend in my mind I only have $400 to last me the month, and in doing so I've saved all that "extra cash" by sitting on it as if it's not there. Do I never spend on myself or others? Absolutely not, I like to treat myself and loved ones just like anybody else, but I never squander money away without thinking it through first. Develop that voice that says, "Stop! Think!"

[martinthabang]

#8. Buy secondhand as much as possible

[DanielGonzalez-brtk]

You guys should read the book “The Richest Man in Babylon” a great read along these lines. Along with The Go-Giver

[PassiveIncomeTom]

*I agree... Pay yourself first. Everyone needs to do this and then have Passive Income be the driver.* 👍

[JuanRamirez-bfhp]

One thing that the video forgets to mention is do what u love, don’t try to be as rich as possible if u don’t love it. The thing you love is what will make u the richest, either by wealth or by heart

[Titanicdork]

i cut my expendure down to such a low level that my monthly essiential costs make up 25% of my income and I save the rest. I'm currently saving £1200 a month. o and I work at amazon packing boxes... lol