Best 5 Rules for Financial Success

7 Spheres of Life – Financial

I am not a financial adviser.
But, I am more than 70 years old and I am comfortably retired. At the end of each month, my bills are paid. We have enough money that we can generally do whatever we want.
And we have not yet begun to draw from our retirement accounts. (Except for the Minimum Yearly Requirement.)

We did lose quite a bit during the 2008-2010 financial bust. Even had to file for Bankruptcy.
But we have learned financial skills from our successes and our failures.

My Best 5 Rules for Financial Comfort

Rule 1
Work within a Budget

Many opportunities are online and in print to help individuals and families work through the processes of creating a budget.

How to Create a Family Budget, Step By Step | Mint

Gather all of your facts as you begin.
All Income details. Savings amounts, investments incomes.
All Expense details: monthly bills, fixed expenses, living expenses, transportation costs, credit cards
Subtract Expenses from Income.

Rule 2
Get a Coach

This will usually cost you. Here’s one that is proven to work.

A coach will be able to look at your financial situation impartially. No emotions or dreams tagged on.
Not your spouse.
Be careful about asking a parent, unless s/he has special qualifications.
Your church may offer limited free counsel.

Rule 3
Define your Goals

These need to be in writing and agreed upon by both spouses.
Estimate the cost for each goal.
Create a timeline for achieving each goal.
From those actions, determine how much you will need to save per month to reach your goals.

Examples of Financial Goals
1. Live within a budget
2. Pay off credit card debt
3. Save an emergency fund
4. Save for retirement
5. Live below your means
6. Develop skills to improve your income
7. Save for your children’s education
8. Save a down payment for a home

Rule 4
Establish and Apply Self Discipline

Don’t buy any wish items unless you have twice the cost in your savings.
Limit the number of active credit cards you use. (1 is a good number)
Pay the Balance off each month.

Behaviors that often result in a Money Crisis
Impulse buying
Having more than one credit card in your pocket/purse
Over confidence about paying the bill later

Create new spending habits to replace the old bad habits.

4 Spending Habits We All Need to Break | › Blog

Reward yourself when you successfully apply good financial actions as you move toward good financial habits.
Rewards should be scheduled based on your behavior. After you have used a specific good habit pattern for a week, then two weeks, and so on. Spaced repetition of the rewards helps reinforce the behavior.

Rule 5
Increase your Income

Many legitimate opportunities are available through online work.
Caution! The ones that are free and as easy as falling off a log – with big $$ promised –
Are likely fake or an attempt to exploit you.

25 Online Jobs That are Legitimate, Easy, and Flexible – DollarSprout

But don’t expect to get paid without time and effort. Nobody give money away – except maybe Ellen.
If you decide to try this route, set aside specific time (and place) that you will work.


The process of moving from a casual attitude toward your finances is tough. Spend when you have it and go hungry when you don’t is tough to change.

Spending causes a sort of euphoria in the spender. It feels good. Endorphins flood through your brain. That easily prevents you from counting the future costs.

Your mission, should you choose to accept it, is to create the endorphin rush when you have resisted an impulse to spend.
That takes time and effort.
But, with a plan and some help (your coach), you can climb out of the debt hole and find financial security. And know that your future is also secure.

Believe me, you’ll find yourself at the age of 70 before you know it.
Seventy feels pretty good when you have the freedom to live and do comfortably.
Don’t depend on Publishers Clearing House sweepstakes or lottery winnings. Take charge of your finances and reward yourself for a job well done.

Rule 1 : Work within a Budget
Rule 2 : Get a Coach
Rule 3 : Define your Goals
Rule 4 : Establish and Apply Self Discipline
Rule 5 : Increase your Income

Go For It!

Your #BestYou is inside you waiting to be released.

Comments and suggestions are appreciated.