We all want to be wealthy, but many of us don’t even know the basic rules to generating and keeping such wealth. We dream of the day when we have that seemingly endless stream of income, but have no idea how to begin, or even how to preserve what we already generate. The rules to wealth are simple, and for that reason, many people will throw it away because to them, there is no way wealth can be so easily attained. These 7 rules for wealth require great discipline, desire, and persistence to execute, but nonetheless, you must follow them to create the income which you desire.

Rule 1 – Save


When we get paid, we tend to spend on a lot different things.

  • Shoes
  • Clothes
  • Tech
  • Food
  • Housing
  • Car
  • Gas
  • Religious Tithes

The list is seemingly endless, but always make sure you retain a portion of what you keep for yourself. For this rule, keep no less than 10% of everything you earn. This may seem like a lot at first, but if you do this with every paycheck you get from now on, you will realize that you barely even notice, much less need this small portion of your income to survive. The more you can increase this percentage the better, as it’s simply more money going into your pocket. When you see that first $1,000, $2,000, $4,000, and so on, you will feel much more confident as you are carrying around a sizable sum of money with you at all times. However, don’t let this get to your head, this money you keep is not intended for you to spend, it is intended to be put to work for you. This way you will earn more and not lose it all on a few purchases.

Rule 2 – Budget

This is one of the most common things we hear about when we research about finances and how to grow our wealth, and for good reason. Without a budget, we throw money around without a clear way to see where it is all going. It becomes easy to impulse buy and purchase items of little value. It is important to create a budget in order to keep a solid cap on your purchases, and maintain a good understanding of your expenses. Most importantly, you can get exact numbers for how much you can save and invest. Most budgets go by monthly income, but I like to be even more specific than that. I prefer a weekly budget, but if a monthly budget works for you, then so be it.

If you haven’t already created a budget sheet or don’t know where to start in order to make one, use this budget sheet to start one. There are many different ways to write out a budget sheet, but this is a way that worked best for me.

Rule 3 – Invest

Don’t just let your money sit around. If you do this, it does you very little good. With inflation, if you leave your money sitting around it will actually lose value. Also, most savings accounts won’t even keep up with inflation, so it is often not worth keeping money in these accounts except for emergency purposes.

Find things to invest in, this could be your own business idea, index funds, real estate, the list is near endless. Just invest in something. Find something that will allow your money to work for you. Make your money a slave to you, don’t be a slave to your money.

An app that is super easy to use and will help you automate your investments is Acorns. I personally love this service as it helps you to invest in one of the most simple ways possible. It is quick and easy to set up an account and it requires no money to get started.

You can set up automatic deposits, for any of three intervals: daily, weekly, and monthly. You get to pick the day this happens and everything.

You can also set up what is called “round-ups.” This takes how much you spend on any purchase, say for instance, $2.50. Acorns will invest $0.50 for you. You can also multiply this amount by 2x, 3x, or 10x.

Overall, Acorns streamlines the process and makes for a super simple experience.

If you’d like to get started now, you can click HERE to get started. You will receive $5 if you use this link to sign up and open your account. Did I mention it’s free?!

Rule 4 – Insure

I wouldn’t leave my car in the parking lot without locking it, and I definitely wouldn’t give a thief the keys and ask them to make sure no one takes it.

You worked hard for your money and the last thing you need is to lose what you have earned, saved and invested. Therefore, you need to make sure that whatever you are investing in, whether it be a home, a stock, a business, or whatever else, is a secure one. If you are lending money with the hopes of gaining interest later, make sure your are loaning money to a reliable person. Check your sources. If you require information about how to write or start a business, make sure you are getting your information from someone who knows what they are doing, and has done it before.

I wouldn’t have asked my history teacher a science question, and I won’t ask my dentist how to invest in real estate.

Rule 5 – Ownership

The more you own, the less you owe. This rule is that simple. If you own your home, the only people you have to pay is the tax man, and utilities. If you own your car, the only people you have to pay is the gas station owner, and the mechanic. There is nothing wrong with loans, as long as you utilize them properly. Do not borrow more than you can pay on time within a reasonable amount of time.

The problem comes in when many people over extend themselves. In this day and age, this is extremely easy to do. With credit companies standing at the ready to give nearly everyone a card with no limit, and predatory loan sharks around every corner, its easy to lose sight of how much debt you are taking on.

Stay focused on your mission and don’t allow yourself to take on more than you can handle. Eventually, you want to be able to be the lender. You don’t need to lock yourself into slavery for others as the borrower.

Rule 6 – Prepare

No one knows what the future may hold. We can watch patterns and hope things work out, but nothing is ever sure to happen. In the event that the market has a downturn, you need to be prepared. Not only to survive it, but to thrive in it. Set yourself up so that if something unfortunate happens, your impact by it will be minimal.

In the unfortunate scenario where you meet your untimely, or timely, demise, make sure you have something to leave behind for those you care about. The last thing you want is for your family to be loaded with your debts, with nothing to live off when you are gone. Be prepared for a time when you are no longer here. Be prepared to provide for your loved ones from beyond the grave.

Create a lasting income stream that will survive you, and can be passed on to those you care about.

Rule 7 – Learn

Never become complacent. Never be still. Never become unteachable. If you are to create wealth, you can never stop increasing your ability earn.

Always be on the look out for new experiences to have, more stories to tell, and more lessons to learn. No one has all the answers. No matter how experienced you are, there is always something new.

A better way to do things is always right around the corner, all it takes is for you to take a few steps in order to peak around it.

This post was inspired by the contents of The Richest Man In Babylon. This is a fantastic book that has many lessons to teach. These are but a few of the principals it teaches, I highly recommend having a full read through.

If you have already read this book and instead need some motivation and encouragement to take action, I recommend purchasing Live Intentionally: A 90 Day Self-Project by Harsh Strongman of Life Math Money. This program teaches self-discipline, encourages you to take action, and helps you create a better mindset. This program helped me immensely and I hope it does the same for you.

Live Intentionally: A 90 day Self-Project

A special thanks to Life Math Money and Harsh Strongman for creating this awesome program. The fact that this website even exists is thanks to the motivation I received from it. Click the image above to check it out! If the program doesn’t work for you, get your money back.

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