4 Simple Rules of Money I Live By

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Along our wealth building journey, we must decide the things we value most, and develop our own personal philosophy about money.

During my journey to financial freedom, over the last 23 years, I have developed a philosophy about money that has helped me tremendously. In this quick article I want to share just 4 of these simple rules of money that have guided much of my decision-making along the way.

Hopefully, these simple rules of money that I live by can encourage, inspire, and motivate you to form your own philosophy around personal finances.

4 Simple Rules of Money I Live By

1.?Never sell my core values, integrity, or character, for money. I realize that if I sacrifice these things to get money, ultimately I will sacrifice these things to keep money. At the end of the day, I have to face myself, sleep comfortably at night, and live with the decisions I make. As you embark on your financial journey, think carefully about what you will do, and won't do, for money.

Remember, money is only one of many tools to building wealth, and it's not even the most important wealth building tool. There is time, people, the right attitude, your written goals, and many other wealth building tools, other than money. The key is to put money in it's proper perspective, and not on a pedestal to be worshipped or chased at all cost.

2.?Always be giving - I am determined to give and help people and causes, with my money. At the top of every monthly budget I have written, since the summer of 2002, the word "Giving" has been right there at the top. Giving is a powerful principle and it is a wealth building tool that is rarely talked about, but it is a rule of money that I live by, and it's worked for me. The more I give, the more I get back.

And, to be clear, it’s never about how much a person gives. The principle of giving does not concern itself with how much is given. Instead, it is primarily concerned about the heart, the motives, and the attitude of the giver. My suggestion is to find something to give to on a regular basis. Whether it's tithing, giving to the poor and/or needy, giving money to a person who needs help, or giving to a cause that you believe in, start giving money. Make giving a priority and it will make a difference in your personal finances.

3.?Management is the key - How I manage my money is more important than the amount of money I have to manage. I believe that taking good care of what I have now, will lead to, and open the door for, more down the road. I grew up in a home where we didn’t have much. However, we were taught to not buy into the idea that just because we were poor, we had to act poorly. We managed what little we had, well.

Anything you mis-manage, you will lose. Some people want more, but refuse to take care of what they have now. The act of gratitude is on full display when we are being a good manager and a good steward over our finances. I suggest budgeting monthly, living below your means, being intentional with your money, living frugally and modestly, and spending wisely with discipline.

4.?Money follows expertise - I believe that a high income is a reflection of highly developed skills and determined by the amount of value added to society. Therefore, I have always worked to become the best at what I do, so that I can demand and command more income. The greater my expertise and mastery of a skillset, the more valuable I am, and the more valuable I become, the more income I will make.

We are really paid for our expertise, not our time, so we have to increase our skills and master what we do, in order to raise our value to the marketplace. Many years ago, I stopped chasing money, and I focused on chasing improvement, and being the expert at what I do.

When you are the best at what you do, or at least among the best, you will never have to worry about money or income. The market will look for you, find you, and pay you accordingly!

So now you know the 4 simple rules of money that I live by. Begin to formulate your own rules of money and your own philosophy about money, along your journey to financial freedom.

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The best person to take care of the old you, is the young you!

Sincerely,

Eric C. Bowie?(Smart Money Bro)

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