My 17 Money Rules
I recently recorded an episode of the Jeremy Scott Fitness Podcast titled “My 17 Money Rules” CLICK HERE to give this detailed 60 minute episode a listen. This episode is available on iTunes, Spotify, Google Play simply open the podcast app on your iPhone or Android and listen.
For those of you who tend to consume information better by reading it here is a quick version written down below.
My 17 Money Rules
- Learn how to create income – hustle matters the most at first (when you are young)
- Learn how to invest your money – for most people this is the market or real estate or my personal favorite investing in yourself to learn a skill, trade or craft you can use for life.
- Don’t be a hater of money – money is not the root of all-evil.
- Give very dollar a name or a job each month.
- Spend less than you earn always… this might be the most important rule.
- Don’t be a slave to money, your job or possessions.
- Have a plan for your money and set short-medium-long term goals.
- Create a budget, stick to a budget and stay organized.
- Always have an emergency fund of 3-6 months of expenses.
- Don’t use credit cards unless you have the cash to pay them off monthly.
- Always make your money work for you in some capacity.
- It’s not what you make it’s what you keep.
- Understand there is a money/work ratio of happiness for us all, often times making more does not equal more happiness of freedom.
- Have multiple sources of income –side hustles –investments –passion projects that can pay you now and in the future.
- You don’t have to make six figures to become a millionaire.
- Give to those who have less than you whenever you can.
- Don’t try to look rich the ultimate goal is to be rich. Stop buying stupid things you can’t afford to impress people you really don’t like. You will lose this game in the end BIG TIME!
- BONUS – If you are with a partner (Husband/Wife/Spouse) you have to be on the same page and have open conversations about money and your short/long term goals…. if not it will cause great stress in your relationship. Side Note: Luckily my wife has always wanted to earn good money and now that she is older and educated she truly gets what it takes to be wealthy not just look wealthy. You as a “team” and “partnership” can’t succeed if one of you is trying to keep up with the Joneses.
Side note don’t be fooled by what you think winning looks like.
You know what I am talking about the fake amount of fronting and flossing on social media with leased cars, homes with giant mortgages making people house poor who show the world one reality of winning but in reality they are stressed, in debt, and losing.
Basic examples we see everyday….
If you 2 people…that only have about $1000 of extra money to spend/save/ or play with and one of them invests it and makes $500 dollars and now they have $1500 dollars.
The other spends $500 on a night at a fancy dinner having drinks with friends and posts the photos on social media.
One of these people looks like they are winning; the other is on a path to actually win.
Social Media can be a fake bullshit highlight reel that showing people winning when they are actually losing…. don’t be one of those people.
The goal should be to actually become rich not to just look rich…. again there is a BIG difference between the two.
Any questions on this blog or podcast episode please feel free to send me a message I am happy to connect.
Until next time eat well, train hard & be nice to people.
Jeremy Scott ~ Jeremy Scott Fitness Podcast
Scottsdale Personal Trainer ~ Make Success Mandatory