Seven Rules of Money

Below are seven rules of money. I have collected videos for you to watch to learn the concepts. You may not like all of them. But watch them. And find your own. There is a lot of information out there. Most of it is OK; some of it not. This will help you achieve financial security or independence. First: You define what financial security means to you. Set your goals in writing. An Introduction to Goal Setting (49 minutes).  For lazy or attention deficit people: A Shorter Introduction (6 minutes).

Dave Ramsey ruined our life!

Pay yourself first

• Always have/use a budget. Is budgeting really that hard? 
• 20/30/50 method: 50% needs, 30% wants, 20 percent savings. How to manage your money with the 50/30/20 Rule 
• Automate your savings and investments. How do I automate my finances?

Saving alone will never make you rich

• Compound interest. In only two minutes. From investing guru Warren Buffett.
• Importance of investing. Should we invest our savings?
• How to invest: Investing Basics. How does the stock market work? Trading 101. 
• Are you a potential business owner?
• Index Funds vs. Mutual Funds vs. ETFs

You must live below your means

• Dave Ramsey: What it means to live like no one else.
• Importance of budgeting.  Why budgets fail.

You must have an emergency fund.

• How to deal with unexpected expenses.
• This will derail your financial independence. An emergency fund changes everything.
• Dave Ramsey: How it feels to have an emergency fund.

Use debt wisely

• Avoid consumer debt
• What the credit card companies don't want you to know.
• Only for education and/or a home
• A car is one of the worst thing to go into debt for

The more you learn, the more you earn

• An investment in knowledge

Money won't make you happy

• Material happiness doesn't last
• 5 Things that will make you wealthy  1) have a plan; 2) get out of debt; 3) live on less than you make; 4) save money; 5) be generous.

Additional Resources

Investing Basics: ETFs

Dave Ramsey: Mutual Funds vs. Market Index Funds

Phil Town: Index Funds vs. Mutual Funds

Dave Ramsey: How to be good with money

Dave Ramsey: What makes people poor.
Jim Rohn: The mindset and attitude of thinking wealthy.