Living the Three Money Rules

Beyond all the rules of thumb, money calculators and ways to manage your finances be sure you don’t forget the three simple money rules of Give, Save and Spend. 

How learning three money rules taught one student how to graduate debt-free.

Give, Save, Spend – Three Money Rules

My parents started teaching me about personal finance at a very young age. When I was younger, if I wanted a toy, I would have to buy it with my own money that I made through chores. 

When I grew up and started my first job in high school, I was told that with every paycheck I should give, save, and spend. It’s these three money rules that have shaped my personal finances over the years. 

I was taught that the more you give, the more you get back. I was also taught to save. I try to save 15% of my total gross income. So if I made $2,000 at my summer job, I should be saving $300 of it.

I was also educated to spend.  Money is worthless if it’s not used for something you need or enjoy. 

As I reached college, my parents taught me about credit and how I should slowly build my credit through my very first student credit card. 

Money Rules get Complicated as You Get Older

I used my card for gas and groceries and only those things I knew I could go and pay off right away. I had a limit on my card and I would never buy more things than I had the money for. 

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