8 Money Rules I Live By (Even If They’re Unpopular)
Not every money rule I follow is popular, but that’s because most people are broke and I’m not trying to be “normal” with my money. I’m trying to build lasting wealth, live with peace, and help others do the same. Here are eight financial principles I live by, even when they go against the grain.
1. Don’t Buy a New Car Unless You’re a Millionaire
I say it all the time: cars are not assets they’re depreciating liabilities. A new car loses thousands of dollars in value the second you drive it off the lot. That’s why I never recommend buying a new car until your net worth hits $1 million. Instead, look for a three- to four-year-old vehicle and pay cash. You’ll avoid the car loan trap and keep more of your money working for you.
2. Credit Cards? No Thanks.
I don’t use credit cards. Not for the points, not for the miles. Because I want total control over my money. Studies show that people spend more with credit even when they pay it off every month because it doesn’t feel real. Debit cards or cash keep me emotionally connected to my money and keep my budget honest. If you think you’re beating the credit card companies, think again they built entire skyscrapers off people trying to do just that.
3. Marriage Means Combining Accounts
When you get married, it’s not just about sharing a life it’s about sharing everything, including your bank account. I fully believe in combining checking accounts because it forces communication, teamwork, and trust. Now, are there exceptions? Absolutely. If there’s addiction, infidelity, or secrecy, you need protection. But in a healthy relationship, one account leads to one financial future together.
4. Guard Your Personal Data
In today’s world, your personal info is bought, sold, and stolen daily. I use services like DeleteMe to wipe my data off hundreds of broker sites. It’s affordable under $10 a month and keeps me a little safer from scammers, spammers, and identity thieves. If you value your privacy, you can’t ignore this.
5. Invest 15% Conservatively, Always
Forget get-rich-quick schemes and crypto hype. I follow the Ramsay plan: invest 15% of your income into tax-advantaged retirement accounts like Roth IRAs, 401(k)s, and 403(b)s. I do it consistently, whether the market is up or down. The long-term wins aren’t flashy, but they work. And if you need help, use Smarter Pro to find a trustworthy investment pro.
6. Buy a House Only When It Won’t Break You
I have a formula for buying a home, and I stick to it. Minimum 5% down. 15-year fixed-rate mortgage. Monthly payments no more than 25% of your take-home pay. These rules keep you from becoming “house poor.” And if that means waiting longer or buying a smaller place, so be it. A home should be a blessing, not a burden.
7. Live Below Your Means (Yes, It’s Hard)
Living below your means sounds simple, but it’s tough in a world of constant temptation. It means saying no when others say yes. It might mean cutting back, working extra hours, or skipping the big vacation. But the payoff is huge: peace, freedom, and never having to wonder if your card will get declined.
8. Old-School Financial Wisdom Still Works
There’s no shortage of flashy financial advice online but I believe in the tried-and-true. Pay yourself first. Avoid debt. Budget like your life depends on it. These aren’t outdated ideas; they’re timeless truths that have helped millions of people take control of their money. Consistency and discipline always beat cleverness and chaos.
If you’re tired of struggling with money, it’s time to get back to the basics. These rules may not trend on TikTok, but they’ve helped people find financial peace and they can work for you too.
All writings are for educational and entertainment purposes only and does not provide investment or financial advice of any kind.
