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12 Money Saving Rules That Rich People Follow

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Money helps us to live the life of our dreams, as long as we’re earning plenty and not splurging too much. While most of us are busy balancing our personal expenses with one yearly trip to make sure we have a bed to sleep in and food to eat every day, many others are pretty sorted with their paychecks and credit card bills! They work as much as we do and yet their saving game has upped the ante.

Bright Side is intrigued by these common traits and rules people good at managing money swear by. Believe it or not, these 12 practical money saving tricks rich people do can change the way your savings account looks.

1. The 24-hour rule

Millionaires swear by the 24-hour rule. They may not need to give it a second thought before making an expensive purchase, but they give it a day’s time before actually making the decision. Impulsive buys happen from an emotional trigger and are often unnecessary. Ask yourself the “want or need” question and you won’t splurge as much.

2. An all-cash diet

Cashless economies are good for your wallet but aren’t too friendly with credit card bills. People who spend strategically prefer cash over a card, especially for smaller purchases. The rich live by the habit of keeping as far away from debt as possible. You can start paying for your meals in cash and avoid saving your card details in browsers to keep a tab on your expenses.

3. Set a budget and stick to it.

This sounds cliché but setting a clear budget on your payday and sticking to it will help you save loads of money. Take an honest “income vs expenditure” audit and put a cap on your personal expenditure. Financial experts call it the 50/30/20 budgeting method.

4. Spend on things that help you earn.

You don’t need to be miserable to save money. The rich splurge on things that guarantee a long term investment. Making purchases that help your work, contribute to your current job, or add to your overall earning power are good.

Kimberly Palmer, a personal finance expert at Nerdwallet, is happy to splurge on work outfits, a good laptop, or a reliable car.

5. Invest in services that save you time.

According to Business Insider, the rich don’t shy away from splurging on services that could save their time and mental agony. They focus on investing rather than spending. Getting your groceries home delivered, using laundry services, or renting a comparatively expensive space to stay closer to work will only add quality time to your life. These things may cost more but they give you an ample amount of time to do the things that make you happy.

6. Experiences are invaluable.

Millionaires live a flamboyant lifestyle and make sure to add life experiences to their calendar. That’s because they prioritise spending on enriching experiences that add to their life and health. They would easily swap their daily expenses with life-changing treks, skydiving, trips, or a gym membership!

7. Bills first, rest later!

Understanding your fixed expenses is what people good at managing money do better than us. They swear by the rule of paying their fixed expenses on the very first day through automated systems so that they have a clear view of how to spend the rest of their money.

8. Make a shopping list for annual sales.

We all love sales. However, buying stuff that isn’t on sale doesn’t necessarily equate to saving money. As lucrative as sales can be, they eventually make you spend way more than you should and buy stuff that you didn’t even need in the first place. People that are good with money advise to plan your shopping list in advance and schedule your big buys through sales to get a good bargain.

9. Invest in things that make you happy and healthy.

Buying stuff that makes you happy and that add to your hobbies and passions once in a while is okay. The rich “work hard and play harder” by making sure they love what they do and invest in things that make them happy. If you’re passionate about constellations, splurging on a telescope is okay as long as your savings allow it and you are truly happy.

10. Start “no spending” days or weekends.

People who are good at saving are also good at controlling their urge to spend unnecessarily. Try having a “no spending” day every week or on the weekends and stick with it.

11. Save your change and use it.

Everybody hates loose change. Once you’ve dropped a coin in your bag, you forget about it. But guess what: every penny saved is a penny earned! Keep the change handy and reuse it for your coffee/snack breaks to keep your daily expenses at a minimum.

12. Repair things before discarding them.

While the rich love to invest, they believe in committing to their purchases until their very last breath. They propagate the idea of getting machines and gadgets repaired when they break down before putting them in the trash. Fixing things saves money and the planet too!

Are there any money saving tips that helped you save enough for a last-minute crisis? Or how about for a vacation? Tell us your tips in the comments!

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26 Photos Proving That Happiness Is Not About iPhones

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Some people are chasing their future so fast that they stop noticing how great their lives today actually are. And truly happy people don’t need to chase anything: they are happy to have a comfortable bed, a loyal friend who is always there for them, a present from their grandmother, and for every small achievement on their life path.

These people are more effective than any coach at teaching us to be happy right here and right now and we at Bright Side were inspired by their ability to be happy no matter what.

1. His person just got home after a few months of work. That’s the look of pure happiness.

2. Soap bubbles are absolutely necessary for a happy childhood.

3. These 4 guys agree.

4. “My son has struggled with autism, Tourette’s, agoraphobia, severe anxiety, and OCD. He found solace in writing and just published his book on Amazon! Here he is giving a copy to one of his teachers that helped him along the way.”

5. “The photo my sister sent me of her dog and the new puppy they just got”

6. “My mom made my girls one Pom-Pom rug each. They took 80 hours, 320 Pom-Poms, and she let them choose their favorite colors. Just missed Christmas, but they are ecstatic nevertheless.”

7. “After years of sleeping on the floor and then on an air mattress, I finally own a bed!!! ”

8. I call this one “Pure Happiness.”

9. “My niece has always loved pumpkins. Today, we took her to a pumpkin farm for the first time…”

10. “10 months ago I decided to start learning to love myself. I moved states, got a new job, and have surrounded myself with amazing friends (some new & old). This photo has captured exactly how I feel… Pure happiness! I am so proud”

11. “My wife captured a moment between my daughter and I on the train while she was ‘booping’ my nose with hers. Pure happiness.”

12. “Makes me weak in the knees to see the happiness in my 8-year-old yellow Lab’s eyes, as well as the happiness in the eyes of my 81-year-old Mom.”

13. He is genuinely happy.

14. When your friend is with you and you’re happy:

15. Weee… that was fun.

16. With age, people are more likely to find harmony with themselves and with the world.

17. “My boyfriend got me a lemur experience for my birthday!”

18. Snow. This is all these guys need to be happy.

19. There is no such thing as pure happiness… Or is there?

20. “My mother had wanted a miniature poodle for over 30 years. This is the day Zoe came home.”

21. “My dad got married this past weekend after being single for 13 years and raising 3 girls alone. This is what happiness looks like.”

22. “Here’s another shot of my 101-year-old grandfather with our new puppy! This is pure joy if I’ve ever seen it!”

23. “Me and my girlfriend were in a car accident in which her arm had to be amputated. A week later we adopted Lola, I don’t know who’s happier… I’m going with Lola.”

24. “After an 8 month apprenticeship, and numerous clean downs and set ups, this is me doing my first tattoo on some fake skin. It is what it is but I couldn’t be happier. I earned this.”

25. “My parents split up when I was a baby. Even though they didn’t get along, they maintained a healthy relationship so they could equally raise me. This is our first picture together in a decade. I’m thankful to be proof that parents who are separated can still work together.”

26. Happiness is a state of mind.

Which of these photos seems the most uplifting to you?

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Read Viral Immunity: A 10-Step Plan to Enhance Your Immunity Against Viral Disease Using Natural

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