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Money and life: sometimes they seem like two sides of the same coin. If you want one, you have to give up the other. 

However, that’s not always the case. While there is some tradeoff inevitably between the two, they can actually work together to make your life better. 

To get to a happy place in financial terms, though, you need to understand the rules of the game. You have to commit to “right action” otherwise your dreams simply won’t materialize in the way that you hope. 

Rule One: Accept That You’ll Need To Live Below Your Means For A Long Time

When you get paid, it can be tempting to forget about the long-term and just enjoy the cash. Spa weekends, regular vacations, and fancy cars are likely all affordable. 

Unfortunately, though, when you take this approach, you “eat the future.” You never put aside the money that is going to make you truly wealthy. As Prio Wealth Management points out, it often takes a long time to build your portfolio of assets to the point where it gives you the lifestyle that you want. 

The trick here is to set aside 20 percent of your income (or more) per month to your investments. If you can do this consistently over a long period, you can often build fabulous wealth. You’ll need to stick it out for 10 years or more, but it will happen. The earlier that you can start, the better. 

Rule Two: Don’t Commit To Someone Who Doesn’t Respect The Value Of Money

You might have a good attitude towards money (putting plenty away for your future), but if your partner doesn’t, you’ll never get to where you want to go. Make sure that before you get married that it will work out. If there are doubts in your mind, hold back. Don’t feel forced to get married. The financial risks massively outweigh the benefits. 

Rule Three: Choose A Level Of Wealth That’s Right For You
The purpose of building wealth isn’t just to increase the numbers in your bank account. It’s to make sure that you can live the life that you want to lead. There’s no point having billions of dollars in your investment account if you’re miserable. 

Figure out your life priorities first (and what you want to achieve materially), and then calculate how much money you’ll need. Doing it this way around gives you a precise figure in your head that will give you the freedom or independence that you want. 

Rule Four: Avoid Discretionary Spending

Discretionary spending is something that can absolutely wreck your personal finances if you don’t stay on top of it. Expensive meals in restaurants and trips to the Bahamas crater your bank account like nothing else. 

Unless you can meet discretionary spending out of investment income, avoid it. Hold off from the things that you want until your assets pay for these items passively, without you having to trade your time for them. 

So, which of these four rules do you follow?