Morning!!<\/p>\n
Got a great guest post for ya today, coming from Rockstar Finanace alum, Steve Adcock<\/a> \ud83d\ude42 Man I miss that site sometimes\u2026 And I just learned that Apex Money<\/a> just recently said farewell as well \ud83d\ude2d So it\u2019s ripe for another one to come into the space if anyone\u2019s ever thought about making one! I\u2019d be happy to brain dump on you if you are \ud83d\ude09<\/p>\n Enjoy this article on Steve\u2019s 6 financial rules he lives by every day\u2026 #6 is my favorite.<\/strong><\/p>\n ********<\/p>\n My wife and I became millionaires in our 30s, and no, we didn\u2019t inherit a pile of cash, win the lottery, or sell a startup for millions.<\/p>\n We became millionaires the boring, old-fashioned way.<\/p>\n Today, I\u2019m sharing the six simple money rules I live by every single day. These rules are what made us millionaires. And most importantly, why we still are.<\/p>\n They are not fancy. They are not trendy. They just work.<\/p>\n This is the rule that lets me sleep at night. Life is unpredictable. Jobs disappear (especially these days). Cars break down. Kids get sick. Water heaters explode at the worst possible moment. When you have six months of expenses sitting in cash, none of that becomes a crisis.<\/p>\n If you don\u2019t have money set aside for an unexpected expense, build your emergency fund<\/a> starting today. Your future self will thank you.<\/p>\n When I say an emergency fund, I\u2019m not talking about six months of your income. I mean, six months of what it actually costs you to live. Rent, groceries, insurance, gas, the basics. When you have that cushion, you stop living in fear of the next surprise. You stop making decisions from panic. You stop feeling like one bad week could ruin everything.<\/p>\n We keep our rainy day fund in a HYSA (high yield savings account), so it\u2019s easily accessible, accrues interest, and isn\u2019t subject to the stock market\u2019s ups and downs.<\/p>\n Cash is boring, but boring is underrated.<\/p>\n This is the engine that builds wealth. If you want your future to look different from your present, you need money growing in the background. Not someday. Not when you \u201cfeel ready.\u201d<\/p>\n Right now.<\/p>\n The nice thing is that investing doesn\u2019t need to be complicated. My wife and I invest primarily in index funds, which are diversified portfolios of shares in some of the best companies around the world. No listening in on earnings calls. No worrying about price-to-earnings ratios.<\/p>\n No finance degree required. Index funds make investing easy. (J$: This is what I do too \ud83d\udc4a)<\/p>\n Twenty percent might sound like a lot, but it becomes normal once you automate it. Treat it like a bill<\/a>. The money leaves your account before you have a chance to spend it, and over time, it starts to stack up in a way that feels almost unfair.<\/p>\n The market does the heavy lifting. You just have to show up consistently.<\/p>\n We love credit cards. The points and travel rewards are wonderful. In fact, I\u2019m flying first class to Scotland later this year from the points we earned using our cards.<\/p>\n Of course, credit cards do have a dark side.<\/p>\n Credit card debt is the villain in most people\u2019s financial story. It sneaks in quietly and then refuses to leave. One month you\u2019re a little short, so you carry a balance. The next month, the interest hits, and suddenly you\u2019re paying for last month\u2019s groceries at a premium.<\/p>\n Avoiding credit card interest by paying off your balance every month is our primary focus.<\/p>\n I use credit cards for the points and the convenience, but I treat them like debit cards. If I don\u2019t have the money in my checking account, I don\u2019t buy the thing.<\/strong><\/em> Simple. Clean. No drama.<\/p>\n Carrying a balance is like paying a cover charge to enter your own financial downfall.<\/p>\n Not interested.<\/p>\n I am not trying to win the neighborhood car show. I want a vehicle that starts when I turn the key and doesn\u2019t drain my bank account. That\u2019s it.<\/p>\n Note: This is in stark contrast to the supercharged Corvette I used to drive when I was younger. It was a fun car, but boy, it turned into a giant money pit. It seemed like every other month, I was dropping $2,000 or more to fix something that had broken.<\/p>\n I no longer drive my wealth today. I drive reliable used vehicles.<\/p>\n New cars lose value the moment you drive them off the lot. It\u2019s like watching your money evaporate in real time. I\u2019d rather drive something a little older and put the savings toward investments or experiences that actually matter.<\/p>\n Today, we drive a hybrid to save money on gas, and we plan to drive it until it falls apart (not literally, but you know what I mean!).<\/p>\n Your neighbors might look successful, but you have no idea what their finances look like behind the scenes. The shiny new kitchen might be sitting on a mountain of debt. The fancy vacation might be financed by a credit card that will haunt them for years.<\/p>\n My favorite book, The Millionaire Next Door<\/i><\/a>, discussed this phenomenon extensively. Rich people don\u2019t necessarily look rich. In fact, that\u2019s how many of them became<\/i> rich!<\/p>\n Trying to keep up with other people is a guaranteed way to lose control of your own goals. I focus on my savings rate, my investments, and my peace of mind. If someone down the street buys a new boat, I\u2019m happy for them. I also know I don\u2019t need a boat to feel good about my life.<\/p>\n Comparison is a thief. I don\u2019t let it in the house.<\/p>\n This one is part money rule and part life philosophy. We live in a world where everything can be delivered, outsourced, or automated (DoorDash, anyone?). That convenience is great, but it also makes it easy to spend money without thinking.<\/p>\n Most of the time, you don\u2019t need to spend. You need to move.<\/strong><\/em><\/p>\n Walk to the store. Cook your own meals. Fix something instead of replacing it. Take the stairs. Ride a bike. Do the thing that costs nothing and makes you healthier at the same time.<\/p>\n Any time we get to use our legs instead of our cars, we do it.<\/p>\n Using your legs more than your wallet saves money, boosts your mood, and keeps you from falling into the trap of paying for convenience you don\u2019t actually need.<\/p>\n If you also factor in the future medical bills you\u2019ll avoid thanks to the movement you\u2019re doing today, your savings increase dramatically.<\/p>\n These six rules are simple, but they create a foundation that makes everything else easier.<\/p>\n And I\u2019m a big sucker for things that are easy.<\/p>\n I don\u2019t worry about emergencies because I have cash. I don\u2019t worry about the future because I invest. I don\u2019t worry about debt because I avoid it. I don\u2019t worry about appearances because I\u2019m not competing with anyone. And I don\u2019t worry about spending because I know how to live without constantly pulling out my wallet.<\/p>\n Money doesn\u2019t have to be complicated. It just needs a system.<\/strong> These six rules are mine, and they\u2019ve kept me grounded, confident, and financially steady for years.<\/p>\n If you want to build a life with less stress and more freedom, start with one of these rules and make it part of your routine. Then add another. And another.<\/p>\n Before long, you\u2019ll feel the difference.<\/p>\n *****<\/p>\n Steve Adcock<\/strong> achieved financial independence at 35 and is known for his blunt, practical approach to building wealth. In addition to his personal finance work, Steve runs his own IT contracting business, giving him a front\u2011row seat to how careers, technology, and money intersect in the real world. You can find him on X (formerly Twitter) at @SteveOnSpeed<\/a>, or at his primary website, millionairehabits.us<\/a>.<\/em><\/p>\n J$:<\/strong> He also recently published a new book which he forgot to share! \u2013> Millionaire Habits: How to Achieve Financial Independence, Retire Early, and Make a Difference by Focusing on Yourself First<\/a> (affiliate link)<\/em><\/p>\n#1. Keep 6 Months of Expenses in Cash<\/h2>\n
#2. Invest at Least 20% of Your Income<\/h2>\n
#3. Never Carry a Credit Card Balance<\/h2>\n
#4. Drive Your Cars Into the Ground<\/h2>\n
#5. Don\u2019t Try to Keep Up with Your Neighbors<\/h2>\n
#6. Use Your Legs More Than Your Wallet<\/h2>\n
Wrapping It Up<\/h2>\n
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