There are many rules floating around about how to save your money.

You have to start your own financial rule to live by when it comes to saving money.

Saving money is a financial rule to live by.

Saving money is not always easy.

Saving money is a positive habit you have to start.

I recently came across an article that talks about 2 rules to live by when it comes to saving money.

"When it comes to the way we think about money, I've noticed there are two kinds of people: those who think $1,000 is a lot of money, and those who think $10 is a lot of money."

Source Yahoo Finance – The Only 2 Financial Rules You Need Live By

1. Pay Yourself First: The Best Kind of Cliché for financial rule to live by:

The author talks about paying her retirement and savings accounts the day she gets paid.

When you first start trying to save money it is easier said than done.

She talks about having to budget her money to make this work.

I would agree paying yourself; however, I believe in paying my tithes first before anything else.

I have found that my money goes a lot further.

I seem to get money from out of nowhere to make ends meet.

Paying your retirement and savings accounts should be next after your tithes in my opinion.

For me it keeps me from having a hole in my purse.

Next she says that she spends what's left after expenses on whatever she likes.

If she does not spend the money by the next paycheck she rolls it over into her savings.

I think that this is a great idea.

It keeps you from wasting money.

Her next point of savings any extra money she receives (raise, tax refund, or bonus) into her savings.

This means that she does not create anymore debt for herself just because she has extra money on hand.

Many people will increase spending when they get extra money there by not being able to save any extra money.

Keeping your spending in check when you get a raise or bonus means not changing your lifestyle.

2. Practice Mindful Spending financial rule to live by:

The author talks about making a decision to spend her money and not let her impluses cause her to spend money.

"If you spend $4 every morning on a latte, and $12 each work day for lunch, this adds up to $80 per week — for a grand total of $4,160 per year. If you earn $50,000 per year, that's a full month of your salary. Do you really want all that money to amount to a bunch of coffee and Subway sandwiches?"

Many of us myself included don't really think about what you spend on the extras for lunch or coffee on a daily, weekly, monthly or yearly basis.

The way this is broken down is a scary amount of money that is wasted that could be put to better use.

For me by biggest expense has been lunch on a daily basis.

I have to figure out how not to get burned out on left overs, frozen meals and other things to give myself a variety for lunch.

I don't eat out that often for dinner.

I try to cook for myself with a meal plan.

After reading this article I'm going to make a meal plan for lunch.

That extra money I have been spending can go into my savings or retirement account.

The article goes on to say that sometimes the author breaks her own rules.

With any rule if you break it you have to get back on track as soon as possible.

These 2 rules are a good start of financial rule to live by.

Make your own so that you can save money in your savings, life happens fund, and retirement.

The more you follow your financial rule to live by the better you will become in not breaking your rules.

Do you have a financial rule to live by???

 Your financial coach,

Renee Lawson

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