The Rules Of Wealth


After reading The Rules of Wealth, Refined Currency would recommend this as a good read for general money management and personal finance. Here are some of the best rules of wealth you can learn from the book:

1. Decide What Your Definition Of Wealth Is

Defining how wealthy you want to be and what you want to be wealthy in is very important. How many houses do you want to own? Do you want a portfolio of investments? How much income would you like to be making per year when you’re 40/50/60/80? Whatever you choose is your choice and no one else’s, be sure to define what you want your wealth to be.

2. Most People Are Too Lazy To Be Wealthy

From getting up early to working all day requires a lot of hard work. Richard Templar states that most people are too lazy to be rich. Those who have achieved large financial success have had to work their socks off unless they inherited money or won the lottery. If you want to be wealthy, be prepared to work very hard.

3. Having Money Does Not Mean All Your Problems Vanish

Money is a great tool but it can’t fix everything. From your personal relationships to serious illnesses, there is only so much money can do. “Money isn’t and never will be the cure”

4. Money Doesn’t Buy Happiness

Pretty simple.

5. Know How The Wealthy Think

This rule can be applied to anyone you are inspired by. Look at what they read in the newspapers, what books they read, how they deal with failure along with all the other characteristics that make them who they are.

6. Different Stages, Different Needs

You’ll have different needs at different stages of your life so it’s important to strategise differently when you feel like your financial goals need to reflect a current or nearby future lifestyle.

7. Make Money Decisions Quickly

“Sometimes you just need to act.” A lot of people decide to put off something they can do now and change it into later. If you decide to switch accounts later, that special offer may be gone. If you see an investment that you are sure about but you leave it till later, someone else will snatch it from right under you. If you’re sure about your decisions, don’t leave monetary opportunities till later.

8. Don’t Borrow Money Unless You Really Have To

Make debts and loans a priority. Furthermore, try not to borrow from family, friends and lovers because it can have an adverse affect on your relationship with them.

9. Understand What Investing Really Means

Going to a financial advisor or expert is a good option when you want to make your money go further. However, it’s important that you do your own research too. Whether you choose to invest in property, businesses, shares, etc make sure you know enough about it to understand what a professional may say.

10. Create New Streams Of Income

From dividends received from shares invested to the buy-to-rent property market, there are many ways to create new streams of income. The rich usually have several ways of making income and eventually, you should too.

11. Control Spending Impulses

The rich know how to control their spending urges – that’s why they’re rich.


– Richard Templar

See something you want? Wait a week and see if you still want it. Delayed gratification is key.

12. Don’t Try To Get Rich Too Quickly

If we get rich too quickly we may lose it at quickly as we made it. If we become rich over time we are less likely to spend it inappropriately and we learn to make better financial decisions based on experience and knowledge.

13. Make Your Money Work For You

From leaving property or rooms empty (there’s AirBnB now) to not getting the best interest rates for your money, it’s vital we learn how to make our money work for us. Explore all your options and don’t wait around to find the answer to how your money can go further.

14. Don’t Ever Believe You’re Only Worth What You Are Being Paid

Those who believe they are only worth what an employer pays them are almost always selling themselves short. Big companies depend on people not questioning their worth. Don’t let them get away with it.


– Richard Templar

It’s important to ask for more money as your skills and experience develop. If you feel overlooked, there are plenty of other places that will take your skills and experience at a higher salary. Never be complacent in what you are given, stay ambitious and keen to show that your worth should match up to your pay.

15. Don’t Follow The Same Route As Everyone Else

It’s tough to stand out from the crowd but those who have done it well have usually succeeded.

Get your own copy of the Rules of Wealth, a personal code for prosperity

16. Check The Small Print

Don’t sign your life away. If you are unsure about signing right there and then ask them if you can read it and come back later. Some will pressure you to sign there and then but they are probably just trying to close the deal for them. It’s your life, not theirs so check the small print.

17. Don’t Spend It Before You’ve Got It

This is a bit like controlling your spending impulses. Try to control the lust of spending your money before you make your money. How could I even do that? Overdrafts, borrowing from someone, credit cards and so on.

18. Know When To Stop

There’s a lot more to life than making money. One day you will have a family and it’s important you learn how to enjoy your life. Go on holidays, have fun, have a great work/life balance. Yes, you should work hard, yes you should work smart but don’t forget to enjoy the life you have created.

19. Don’t Over-Protect Your Children From The Valuable Lesson Of Poverty

Giving children everything they want may not help them understand the real value of money. Sometimes kids need to struggle a bit in order to appreciate everything that is done for them. Even if they have trust funds or a secured financial future, let them work for it so they understand the depth of work that is required.

20. You Can’t Take It With You

Don’t be afraid to let go of your money. Never getting rid of your money is called wealth bondage. Of course, you can speak to financial advisers and find out what the best way is to handle it. There’s no harm in being generous and giving money away responsibly. After all, what is the point of all this wealth if we can’t share it?


Get your own copy of the Rules of Wealth, a personal code for prosperity

This post was written by Bola

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