Group of friends toasting beer at happy hour.

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You don’t have to spend less all the time.

Key Point

  • Create your own money rules for the things you love.
  • Spend less on things you don’t care about.
  • Update your money rules regularly to align with your life goals.

There are a million different opinions on how best to organize your personal finances. Spend on this, not on that. Not that, but a budget like this. Always do this! Never do that!

As personal finance guru Ramit Sethi says: teach you how to get rich Fame, it’s much easier. His philosophy can be summarized as follows. Don’t spend your money on things that don’t make sense.

As such, Sethi’s financial advice is about individual career paths rather than hard-and-fast rules that everyone should follow. He has his ten money his rules to follow in life. Own money rules your life.

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create your own money rules

According to Sethi, the key to defining your own money rules is figuring out what you love.

“What do I like to spend my money on? Start here,” he wrote in an Instagram post. “The most common answers are dining out, travel and health/wellness, but there are other ‘money dials’ like convenience (this is mine. Don’t overthink it. Spend money I know instinctively what I like.)

To fully visualize a life where you spend more money on the things you love, Ramit tells you to dream big. “What if his spending quadrupled? What would that look and feel like?” he asks himself.

As Sethi says, turn the dial up here and consider ambitious goals.

“This is very difficult for people and tends to give a straight answer: ‘I love it.’ eating out That’s why I eat out 4 times a week! No! You can go to all the Michelin-starred restaurants in the city… you can fly to Italy and eat at a chef’s table… you can even take an Indian cooking class. ..and you can do all this with your friends too. “

stop spending on things that don’t matter

Once you have decided what you want to use more Money, it’s time to understand what you can spend Less than money. This means thinking about all the things you spend your money on that don’t really matter.

Sethi writes:

Spending a lot of money on a streaming service you rarely watch? Cut it out and move that money elsewhere. Do you throw away a lot of groceries—and therefore money—because they spoil before you can use them? Maybe you value convenience over home cooking. It’s good! Shift that money away from wasting it on things you don’t like.

Adapt your money rules over time

Finally, Sethi emphasizes that establishing and maintaining money rules is not a one-time thing. Your life is constantly changing, and so are your goals.

“Your money rules should do it It changes over time,” writes Sethi.

Some of you may still love to travel, just like you did when you were younger. So vacation spending may still be an important money rule. But a new family member may mean that your goals have shifted to spending on family activities instead. Please make sure they match.

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