Similar to Ramit Sethi’s Money Rules, I’ve been following certain rules I have made for myself to get closer to creating the life I want to live, my #richlife. These rules have been helpful to me when I encounter moments of doubt as to what I should be doing. They serve as guidelines and keep me on the right track. These rules are not meant to apply to everyone; they are tailor-made just for me and I may adjust or add to them as my lifestyle changes.
1. Invest at least 40% of my salary.
And save 5% for my fuck off fund. Investing is my biggest aim as it will give me the foundation to pursue my #richlife. Thus, most of money gets transferred into my Selma, Inyova robo advisor accounts as well as into DEGIRO and other investment accounts. To keep my fuck off fund topped up, I save 5% of my salary each month. It’s more important than ever to have a fuck off fund — with the uncertainty going on in the world, knowing I have these funds available to me in case shit hits the fan (job loss, bad relationship situation etc) creates such piece of mind.
2. Pay off any credit card debt in full each month.
Although I use credit cards to purchase flight tickets and bigger ticket items, as well as groceries, I always make sure to pay the full balance every month. I only use the credit card if have enough funds available cash — I use credit cards to take advantage of points and for the safety features.
3. No spending limits on books, health and wellness.
Because I love to read, educate myself as well as want to keep myself healthy and well as long as possible, I don’t put a cap on these items. That doesn’t mean that I’ll spend an egregious amount on these items, but it does mean that I won’t deny myself those things if I feel that I need to have that one particular book or wellness treatment.
4. Quarterly weekend trips for a change of scenery.
As part of pursuing my #richlife, I want to become not only financially independent but also location independent. So, at least once a quarter, I will book a weekend a way. Nowadays, that weekend trip can even be extended to a few more days as I can work remotely. Working remotely is definitely becoming major upside during this pandemic.
5. Never question spending money on unique experiences.
“You never regret the things you did do, only the ones you didn’t.” Unfortunately, I don’t remember where I heard this quote from but it has always stuck with me. Experiences rank high for me, especially unique experiences encountered whilst on holidays or ones that may come up spontaneously. Not making such unique experiences a money question helps me invest in myself and enjoy the experience even more so.
6. Choose the right life partner.
Money was always an issue between my ex and I — our money values were not aligned, causing conflict and exacerbating the divorce. So, making sure I have a partner that shares the same money values and same attitudes about financial independence are green flags for me.
Do you have any money rules? What are they? Let me know in the comments!
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