The Rules of Wealth

Richard Templar is the author of the international bestselling Rules books. Over 2 million people around the world have enjoyed and now play by Richard Templar’s Rules. His series distils practical, common-sense guidance into clear entries that readers can apply to everyday decisions.

• Thinking wealthy 1 Anybody can be wealthy – you just need to apply yourself 2 Decide on your definition of wealth 3 Set your objectives 4 Keep it under your hat 5 Most people are too lazy to be wealthy 6 Get a reality check 7 Understand your money beliefs and where they come from 8 Understand that wealth is a consequence, not a reward 9 Decide what you want money for 10 Understand that money begets money 11 Calculate the net return 12 If you see money as the solution you’ll find it becomes the problem 13 You can make lots of money, you can enjoy your job, and you can sleep nights 14 Don’t make money by being bad 15 Money and happiness – understand their relationship 16 Know the difference between price and value 17 Know how the wealthy think 18 Don’t envy what others have 19 It’s harder to manage yourself than it is to manage your money  Getting wealthy 20 You’ve got to know where you are before you start 21 You’ve got to have a plan 22 Get your finances under control 23 Insurance pays someone, and odds are it’s not you 24 Only by looking wealthy can you become wealthy 25 Speculate to accumulate (no, this isn’t gambling) 26 Decide your attitude to risk 27 Think through the alternatives to taking a risk 28 If you don’t trust someone, don’t do business with them 29 It’s never too late to start getting wealthy 30 Start saving young (or teach your kids this one if it’s too late for you) 31 Understand that your financial needs change at different stages of your life 32 You have to work hard to get rich enough not to have to work hard 33 Learn the art of deal making 34 Learn the art of negotiating 35 Small economies won’t make you wealthy but they will make you miserable 36 Real wealth comes from deals not fees 37 Understand that working for others won’t necessarily make you rich – but it might 38 Don’t waste time procrastinating – make money decisions quickly 39 Work as if you didn’t need the money 40 Spend less than you earn 41 Don’t borrow money – unless you really, really have to 42 Consider consolidating debts 43 Cultivate a skill and it’ll repay you over and over again 44 Pay off your loans and debts as a priority 45 Don’t be too busy earning a living to make some money 46 Save in big chunks – or should you? 47 Don’t rent, buy 48 Understand what investing really means 49 Build a bit of capital then invest it wisely 50 Understand that property, in the long run, will not outpace shares 51 Master the art of selling 52 See yourself as others do 53 Don’t believe you can always win 54 Don’t pick stocks yourself if you don’t know what you’re doing 55 Understand how the stock market really works 56 Only buy shares (or anything) you can understand 57 Use your head 58 By all means, use the investment professionals (but don’t be used by them) 59 If you are going to get financial advice, pay for it 60 Know your way round the Internet61 Don’t fiddle 62 Think long term 63 Have a set time of day to work on your wealth strategy 64 Pay attention to detail 65 Create new income streams 66 Learn to play ‘What if?’ 67 Control spending impulses 68 Don’t answer ads that promise get-rich-quick schemes – it won’t be you who gets rich quick 69 There are no secrets 70 Don’t just read this – do something Getting even wealthier  71 Carry out a finance health check regularly 72 Get some money mentors 73 Play your hunches 74 Don’t sit back 75 Get someone to do the stuff you can’t 76 Know yourself – solo, duo or team player 77 Look for the hidden asset/opportunity 78 Don’t try to get rich too quickly 79 Always ask what’s in it for them 80 Make your money work for you 81 Know when to let go of investments 82 Know your own style 83 Know why you should be able to read a balance sheet – and how 84 Be one step ahead of your tax collector 85 Learn how to make your assets work for you 86 Don’t ever believe you’re only worth what you are being paid 87 Don’t follow the same route as everyone else Staying wealthy 88 Shop for quality 89 Check the small print 90 Don’t spend it before you’ve got it 91 Put something aside for your old age – no, more than that! 92 Put something aside for emergencies/rainy days – the contingency fund 93 You paid what for it? How to shop around 94 Never borrow money from friends or family (but you can allow them to invest) 95 Don’t surrender equity 96 Know when to stopSharing your wealth 97 Use your wealth wisely 98 Never lend money to friends or family unless you are prepared to write it off 99 Don’t lend, take equities 100 You really, really can’t take it with you 101 Know when/how to say no – and yes 102 Find ways to give people money without them feeling they are in your debt 103 Don’t over-protect your children from the valuable experience of poverty 104 Know how to choose charities/good causes 105 Spend your own money because no one will spend it as wisely as you 106 Take responsibility before you take advice 107 Once you’ve got it, don’t flaunt it 108 What’s next? Pacts with the devil? The Rules of other people’s wealth  1 Don’t judge 2 Don’t envy it 3 Other people’s money belongs to them 4 They can give it all away if they like 5a Once they’ve gone, you can’t ask questions 5b Once they’ve gone, you can’t ask questions 6 Blood comes before money 7 Your children owe you nothing 8 Don’t make money taboo 9 If they give it to you, it’s yours Had enough yet . . . ?