Ever thought ‘why are you’re earning more than usual yet it seems like it’s still not enough’? You were earning less last year and your budget won’t fit. But you’re earning more now, yet it’s still the same! 

There’s no such thing as shortages of money. It’s how you handle your money well which is one of the 
Timeless Lessons on Money. We’ll be sharing with you the 8 Important Rules of Money that no one talks about. 

Rule #1: Do not spend the money that’s not in your hands!

This goes to the people who already think of a way to spend their money ahead of time when in fact their income is not stable and it changes from time to time. 

The thing is, budgeting the necessary expenses is a smart move. But if you try to purchase or loan something thinking that you could pay it back after some time is not a way to go! 

Once everything is settled, you signed a deal showing that this is your monthly or annual income and the day comes when you finally have the cash in your hands, then that’s the time you should spend it. And if you’re going to spend it, spend it well.

Rule #2: Save as much as you Spend

Let’s do the math! 

For 100 % of your income, you deduct the tax that you have to pay as a citizen which could be around 40% (more or less depending on the country). This leaves you 60% in hand. 

Now, if somebody would at least take out that 40% of yours, then might as well take out another 40% for personal use or savings. 

Do not let them take away a good portion of your income without you getting the other good portion for it! Then what happens to the remaining 20 percent? Budget it well for your living expenses. It could be water, electricity, rent, and other more.

100% (Income) - 40% (given to Internal Revenue Services) - 40% (personal savings)  = 20% for your living expenses.

You might think that 20% is too small? Well, there are two options for it: (1) Change or Lower your cost of living or (2) Increase the amount of that 100%. Be disciplined in using your own money. 

Rule #3: If it’s Beyond your Income, don’t buy it.

One of the most common rules of money. If it’s beyond your capacity to buy, then don’t! 

Here’s the thing. What’s beyond our income is usually our ‘wants’. So it could be a type of recreation, entertainment, food, clothing, and other sorts. Mostly, things that you don’t really need. 

For instance, do you need a vacuum cleaner? Then why buy the most expensive one when there’s a cheaper alternative? Play your money, don’t let it play you.

Rule #4: Rent and Lease

When you’re going away for a few days, do you really need to buy a car for it? Would it be wise if you could just rent it so you won’t have to suffer in paying for the monthly fees and mortgages even several months after your vacation? Spend your money wisely!

Sometimes, you don’t need to buy or own anything. It’s better off renting and getting a lease.

Rule #5: Focus on what’s present rather than adding a second cash flow.

What does this mean?

Entrepreneurs usually want to receive more income. Whether their business is going well or not, they’d think of another way to get more in such a short period of time. 

Others move on to second gigs or options ahead of time. When they run a restaurant, they’d think of offering other products and services ahead without even focusing on achieving where the source of their first cash flow is!

Focus on what you can get out of your business before moving on and be a part of the growing team of innovators.

Rule #6: Stop Complaining, Get into Work!

I guess not all of us started their business yet? So are you one of those who mostly work 40 hours a week? We’ve even seen plenty who works more. 

It’s bad if the pay is less than the minimum or there are no overtime pay and other benefits. But, if everything seems fine, the payment gives justice to your effort, then stop complaining! 

Change your mindset that if you work more than the hours your peers spent, it means your life is miserable! Remember, most successful entrepreneurs started working more than 40 hours a week! If they can do it, you can too!

Rule #7: Spend your money wisely!

Now I’m not saying that you have to all outspend your money into useful things but, not unless it is spent, money is worth nothing. It’s just a piece of paper. It has to be in circulation.

Take it out, use it, try to pay advertisement to promote your business or take courses to learn more valuable skills that are worth some time in the future. You can even join credible investments to earn more. It’s risky but remember, every business must go on with the risky journey.

Rule #8: Never Stop until you Achieve your Financial Goals

It’s true we all have different financial goals. Others are satisfied getting money to provide for their necessities and a few of their wants. However, others want more. Now if you wanted to achieve your financial goal (no matter how high or low), provide basic steps and realistic plans that you can follow. 

You can save and be frugal because no matter what, the money’s out there! It may or may not be waiting for you to get it.

It’s always been work tirelessly day and night, find a new gig, get a higher education, and whatever advice people give you so you can earn more. But guess what? 

The 8 Rules of Money written above is such an underrated thing that people would say. You don’t have to buy or spend your money on the things that you don’t need, more than you what you earn, and would just be a burden to you in the long-run. But not unless you have anything to spend worthy to spend it on such as training, classes, and investments, then stop complaining, try to save more, spend your money wisely, and never stop until you reach your financial goals!

Author's Bio: 

New York Times bestselling author Ayesha Fox writes sweet, fun, action-packed mysteries. Her characters are clever and fearless, but in real life, Ayesha is afraid of basements, bees, and going upstairs when it is dark behind her. Let’s face it. Ayesha wouldn’t last five minutes in one of his books.

Ayesha is best known for his Southern Ghost Hunter mysteries and for his Accidental Demon Slayer books.