We all want money—some more than others but the want cuts across the board. Financial success usually requires discipline about saving and spending, as well as investing wisely. For you to avoid financial troubles now and in future, you must have rules that guide and keep you in control of your finances.

Below are money rules you can use as guiding principles to help you in your financial journey;

Always pay yourself first

The concept of saving first before spending gives you control over your finances and keeps you financially stable. It is important that you calculate the amount you can comfortably save without leaving you deficient of paying bills and other contingencies.

When you save first, you learn how to live within your means and most likely, how to avoid unnecessary debt.

Make a monthly budget

Budgeting helps to keep you on track. It is however, easy to lose track of what’s coming in and going out of your account. It especially becomes a little harder if you have to track down multiple accounts.

Luckily, there are several budgeting and financial literacy apps cropping up every day that make it possible for you to access your budget with the touch of a button.

Live within your means

It is important that you find ways to increase your income and decrease your expenses. Availability of credit cards, loans and emergency funds allow you to buy more things than your income would ordinarily allow and many of us have a hard time ignoring the lure. The downside of this is that we end up living beyond our means which plays a part into the cycle of poverty.

Don’t take debt you can’t afford 

It is imperative that you figure out the difference between good and bad debt. Good debt propels you to achieve your financial goals whereas bad debt will have you reeling in poverty.

When you cannot afford it, stay away from it and look for alternatives. Lending institutions will always be willing to advance you more money than you can afford to repay. Act accordingly by knowing your capabilities and your limits.

Save up for purchases instead of having them on credit

In order to be on the right track in your financial journey, put money aside bi-weekly or monthly and save up to make huge purchases instead of taking them on credit. If you can’t afford to save up for the intended purchase, it goes to show that you cannot afford to buy it so you should strategize and review your financial plan.

Build an emergency fund

Financial experts call for always having a budget but even the best budget can be derailed if an emergency comes along and there’s no money set aside for it. It is therefore important that as you pay yourself you remember to differentiate your savings accounts and put some money in an emergency kitty. With an emergency fund, you’ll have the ability to fix issues as they crop.

Always make informed decisions

Examples of financial suicide that many people end up making include; lack of financial knowledge, saving the wrong amount when younger, spending the wrong amount when older, disregarding economy changes as well as not keeping up with pre-retirement savings. Make informed decisions and save yourself.

Keep thinking about the future

Set a date with yourself, an accountability partner or a financial consultant every now and then to do a career and financial review with. This could help put you back in track if you fall off along the way.