The 9 Rules of Money

Having money problems? Watch this video to learn the 9 rules of money you need to follow.
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🎥 About This Video:

Money is something we position ourselves around. We go to work so we can pay our bills, take a vacation and hopefully live better. In this video, I am going to breakdown the nine rules of money you need to know in order to gain wealth.

First: Know Your Numbers
The number #1 rule that you need to remember is know your numbers. You need to know is the amount of income you are generating, your current monthly expenses, and your total debt and savings to correctly understand your finances.

Second: Pay Yourself First
Before you pay your bills, before you buy groceries, before you buy the latest iPhone, you must invest in your savings. Pay yourself first and set yourself up for the future so you don’t have to worry. Once you do this, you will be able to enjoy all the additional amenities of life.

Third: Don’t Use Credit If You Don’t Have Cash
If you can’t buy it twice, you can’t afford it. Credit card debt is one of the biggest setbacks for individuals. My advice is if you don’t have the cash, you can’t afford it. Don’t take on extra risks and liabilities when you cannot support them comfortably.

Fourth: Educate Yourself Before Investing
Avoid taking your money and investing in the largest media-hyped stocks. Educate yourself before investing by researching the income, debt ratios and the overall structure of the business or entity.

Fifth: Avoid Bad Debt
Any amount of money that you owe or acquires interest over a period of time is considered debt. The difference between good debt and bad debt is based on the net cash flow vs the interest acquired. If you are able to take out a loan and invest in an asset that generates more profit than the amount of interest on the loan, that is considered good debt.

Sixth: Invest Consistently
I don’t focus on investing at the bottom of the market or selling at the top of the market. The best way I have found to invest is by consistently investing to average out your total cost and get the best return my money. Eventually, you will be able to make enough money to cover your daily expenses.

Seventh: Create An Emergency Fund
Set aside a 6 months savings to make sure you’re covered in case you lose your job or your business doesn’t produce income. This will allow you to focus on generating new income to cover your future expenses.

Eighth: Be Charitable
If you go out of your way and help others, it makes the world a better place. Focusing on helping people who can’t do it themselves and help people who supported you in the past. I have found that I make the most money by helping people and asking for nothing in return. This is because of the genuine relationship I build which attracts people to want to work with me more.

Ninth: It’s Not What You Make, It’s What You Keep
Our dear friend Uncle Sam likes to take up to 50% of your income. Taxes are a major factor that will apply to your business and personal life. Understanding how you can utilize business write-offs will open up many new gateways for income.

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🎬 About This Channel:

My name is Hayden Howard and I am a business owner dedicated to helping people make more money and grow their companies. I create videos based around topics like business, money, marketing and sales. Make sure to subscribe to learn how to create a profitable online business and escape the 9-5 nightmare of working for someone else. Leave a comment below or connect with me on social media and let me know the next video you want me to create!

Disclaimer: The information and resources we provide are for educational and informational purposes only.

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