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12 Money Rules to Accumulate Wealth in the Next 10 Years

Too many people are ‘going for it’ — digging into their retirement accounts, spending money on vacations and big-ticket items. But if you want to accumulate wealth in the next 10 years, follow these simple money rules:

Savvy saving and investing is essential, but it’s just the beginning. Making smart decisions with your money isn’t enough:

These survival strategies can only help you so much when you’re faced with long-term economic challenges like job losses or unexpected medical expenses.

Estimated reading time: 4 minutes

Money is a Tool

Money is not a status symbol. It’s only a means to an end.

Money’s greatest advantage is its ability to give you control over your time.

Use your money to:

  • Buy assets
  • Pay off debt
  • Increase savings
  • Create a side hustle

Separate Time from Money

The most rewarding earnings are those that don’t involve your efforts.

Wealthy people understand that time is their most valuable asset.

They create systems and discover ways to earn money passively.

Earn with your skills, not your time.

Own it

Owning it is the secret ingredient.
When you start to consciously work toward you goal and you take charge, you’ll start taking action, failing, learning and improving
You are solely responsible for your financial well-being.

It is not your parents, the government or your school.

The sooner you take control of your financial situation, the better off you will be.

Invest in Yourself

You will never regret investing in yourself. The best investment you can make is in yourself.

Make an investment in yourself:

  • Get fit
  • Read books
  • Be a lifelong learner
  • Prioritize your mental and physical health

Change Your Mindset

Your mindset and beliefs are the key to better money management.

Change the way you view money to see progress in your finances.

Do this to change your mindset

  • Define goals
  • Project yourself in the future
  • Put in the work to get there

Be more Frugal and Less Flashy

Wealth is often confused with material possessions.

True wealth is not visible. Many people with new cars and large houses are deeply in debt.

Be cautious of who you try to imitate.

Play Your Own Game

People have their own financial goals, time horizon, and risk tolerance.

What may work for one person may be irrelevant to your needs.

Understand what you are buying and be careful where you are taking your financial advice.

Pay Yourself First

It means that you should pay your own savings and investment accounts before paying anything else.

Paying yourself first allows you to

  • Set priorities
  • Build discipline
  • Implement a financial strategy
  • Prioritizing your future

Keep an Emergency Fund

Too many people make poor financial decisions due to a lack of an emergency fund.

An emergency fund safeguards you against risk of

  • Job loss
  • Car repair
  • Borrowing money
  • Unexpected expense

Less Ego and More Wealth

Ego is an impediment to wealth creation.

The greater the gap between your income and your ego, the more money you will save.

Controlling one’s emotions is required before one can build wealth.

Spend Less Than What You Make

Divorce from the temptation of a lifestyle that you cannot afford.

Do the following to live below your means

  • Set financial goals
  • Track your expenses
  • Create a budget
  • Track your net worth
  • Be intentional of your spending habits

Always be Moderate and Patient

There is no such thing as a get-rich-quick scheme. Wealth is built over time, not overnight.

Recognize that the odds of success are against you and diversify your investments.


Change your mindset ☑

Invest in yourself ☑

Own your time ☑

Take home for me!

To add to this, money is just a tool not the goal

The goal is to build wealth by using money to buy assets

Wealth = Financial freedom

When you look back over the next decade, you’ll be glad you followed these money rules. You’ll save money and enjoy greater financial security.

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