Money Principles I Live By & You Should Too

Hey good people! I have been quiet this week due to packing up for the move to the new house. I’m excited and can’t wait to make this the last move for a good minute. Luckily I had some free time and it’s been really bugging me that I haven’t put out at least one post in a few days. Therefore, I made it a priority to make this post happen!


People often ask what I do that helps with being financially stable. My hope in this post is that you find at least one-money principle to apply and live by. I promise that you can implement any one principle here to help better your life financially.


A diet is no good if you don’t change your lifestyle. You lose weight when on the diet but soon as you get off the weight comes back because you went back to your old habits. Money habits are the same. Start training yourself with money principles that change your daily life. Here are the money principles that I live by and help me remain financially sound.

Principle #1 – 24 Hour Rule

Impulse buying is a b**ch. When you buy an expensive item in hopes to feel better, you are now a victim of impulse buying. You find an item that will only make you happy temporarily but best believe the money you spent is not coming back. To deter such frivolous spending wait 24 hours before purchasing any expensive item. Over the course of 24 hours emotions will sort themselves out a little bit more. Also, discuss with your inner self if the item is a need, a want or completely useless. By living with this principle I saved thousands of dollars…granted I don’t have 10 music speakers but sacrifices must be made.

Principle #2 – Starting Early

I’m still making a conscious effort to work harder on this principle. But the principle is to simply start early in anything you do in life. Whether that comes to saving, budgeting, retiring, paying off debt or whatever in life. Starting sooner than later will save you time and have you wishing you started earlier. I still regret not blogging sooner. Don’t regret anything and start early.

Principle #3 – Be Prepared

When I talk about being prepared I don’t mean an emergency fund, though that’s important to have. Be prepared is to cover you’re a**, usually by insurance coverage. From working in claims I deal with countless people who were not prepared to cause an accident or deal with a totaled vehicle. If it sets them back by a few thousand dollars they are one of the lucky few.

No one plans on being a part of a large accident and having to deal with the ugly reality that their insurance won’t pay for everything. Talk to your agent or increase your coverage. Put on rental and Gap coverage. Hopefully no accidents will happen but if they do you want to have you’re a** covered.

Principle #4 – Pay Yourself First

Paying your bills first is very responsible, but what about you? You are your most important asset at the end of the day, not Comcast high priced cable. I will continue to preach this principle as it helped my wife and I more than you can know. If you already pay yourself first think about if you deserve a raise. For those who don’t pay yourself or don’t think you can afford it, start off small. Pay yourself $50 of each paycheck and watch the numbers add up. Decide on a goal to save up for or use the money as an emergency fund. Either way it will assist in making a solid financial foundation.

Principle #5 – Live Below Your Means

Johhny Depp has recently been reported to spending $2 million a month on his lifestyle. He has an average of income of $20 million coming just from movies. Even if he makes double the income he is still living above his means. Experts do not have a specific percentage of income that should be spent on lifestyle so use your best judgment. If you find that you can’t pay bills on time that is a great indicator of living above your means.

The main benefit of living below your means is that if something goes wrong your lifestyle won’t suffer. For people who live above their means they are swimming in debt even if they don’t know. If they miss one paycheck they won’t be able to stay afloat. Live below your means and increase your lifestyle gradually. Build on a solid foundation, so that no mishaps won’t stop your life.

Bonus Principle – No Regrets

Saving the best for last is my favorite principle to live by, No Regrets. Life is short in the grand scheme. And like it or not, you are aging. Don’t wait for the perfect moment to accomplish a goal because that time will never happen. Crush 2017 and remain positive. The world needs you to be a better you!

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