The 6 new rules for personal finance


Hard to believe it was 20 years ago when I wrote a column titled “The 7 Laws of Personal Finance.” It summarized what I had learned in the previous 20 years. The laws were dirt-simple. They served me, and many readers, very well.

But that was then. What about tomorrow? What should a young person do to achieve financial freedom and peace, starting yesterday?

Here’s a list of 6 new rules.

1. You are your biggest asset; treat yourself accordingly. This rule has multiple layers. One layer is to recognize that unless you are blessed (or cursed) with a major inheritance, virtually all of the money you spend will be the money you earn. So take good care of the earning asset that you are.

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