10 Rules to Get Your Money Right

10 Rules to Get Your Money Right.

1. Educate Yourself on Basic Financial Literacy

In 2019, lack of financial literacy cost Americans more than $307 billion.

Financial literacy teaches you how to:

- Earn
- Save
- Invest
- Spend
- Borrow
- Protect

Improve your financial literacy today. Save money tomorrow.
2. Build an Emergency Savings Fund

63% of Americans cannot afford a $500 emergency.​

They would have to resort to:

- Using credit cards
- Using debt to pay debt
- Using other high-interest debt

Pro Tip:

Use a high-interest savings account for your emergency fund.
3. Build a Solid Credit Score

Benefits:

- Better chance for loan approvals
- Better insurance rates
- Lower interest rate

How to boost your credit score:

- Pay on time
- Pay off your debt
- Keep a low credit utilization ratio

Good credit score = more money in your wallet.
4. Build Healthy Habits

Successful habits could include:

- Frugality
- Positivity
- Networking
- Setting goals
- Taking action
- Reading books
- Waking up early

It takes around 66 days for a new behavior to become a habit.

Take the steps today to make a better tomorrow.
5. Develop & Stick to a Budget

To build a budget, start by:

- Tracking your income
- Tracking your expenses

Figure out where your money is:

- Coming from
- Going to (and how much)

Manage money before it manages you.
6. Pay Yourself First

Society tells you to:

- Spend
- Consume

Instead, use your paycheck to:

- Pay off credit debt
- Invest for your retirement
- Add to your emergency fund
- Add to your investment portfolio

Never live bigger than your paycheck.

That's financial suicide.
7. Eliminate Credit Card Debt

Credit card debt is bad because of:

- High-interest rates
- Could damage credit score

Credit card debt can drain:

- Your budget
- Your savings
- Your future portfolio

You rob your future self with credit card debt.
8. Save for Retirement

Use the power of compound interest to your advantage.

The earlier you start:

- Saving
- Investing
- Paying yourself first

...The more likely you will see a return on your investment.

Build your tomorrow starting today.
9. Build Additional Income Streams

Don't rely on 1 income source.

Income examples:

- Earned income
- Rental property income
- Active and passive income
- Dividends and interest income
- Second business income stream

Never put your eggs in 1 basket.

Diversify your income now.
10. Health and Wealth Go Together

Don’t take your health for granted.

Begin to:

- Meditate daily
- Exercise regularly
- Drink enough water
- Stick to healthy foods
- Block negativity/toxicity

Adopt a healthy routine today.

You can't enjoy wealth if you have bad health.