4 money rules

I came across some practical money rules on the Mel Robbins podcast that are worth keeping front of mind.

Know where your money goes. Track and budget. You can't manage what you don't measure.

Split your money into four buckets:

• Fixed costs (40–60%) — rent, bills, essentials

• Investments (10–20%) — long-term wealth building

• Savings (10–20%) — emergency fund, future goals

• Guilt-free spending (10–20%) — live a little

Save early, stay consistent and let time do the heavy lifting.

Compound interest is the eighth wonder of the world. - Albert Einstein.

Know when enough is enough. Money is a tool, not a purpose.

For the love of money is the root of all kinds of evil — 1 Timothy 6:10.

If you want to go deeper, Morgan Housel's The Psychology of Money is a great practical read that pairs well with these principles.

Happy Hackin'!

References

• The Best Financial Advice You Will Ever Receive - Mel Robbins

• The Psychology of money - Morgan Housel