7 Rules of Money Every Person Should Know

7 Rules of Money Every Person Should Know

7 rules of money

I’ve grown in a family where the subject of money has never been discussed. All we know by then, is that, a Rich person is the one who has a lot of money.  For most of us, we believed that Rich people are either born rich or someone who has attained the highest educational attainment in life. This is somewhat true but there are also many cases wherein a poor person, has able to amass a wealth of his own. Majority of us has no clue on how they did it and I will discuss here some of the best practices on how nothing can become something, on how to amass the wealth of our own.  What I will share with you here is what I learned from the different books that I read about personal money management which I also put into practice to my life that has enable me and my wife to save more and invest more.

As of this writing, I’m about to turn 33 years old in a month’s time and I’m proud to say that me and my wife after almost five (5) years married, already has a net worth  in 7 figures.  This is due to the best practices that I will be discussing here on how to manage your money wisely.

I’ve observed that majority of the people I know, whether friends, family or relatives, who are working and earning money, barely save a portion of their salaries and income. Most spends what they earn and after few years of working, they have little or no savings at all. I also observed that majority of our senior citizens rely either on their pension or to their children for support. And it’s really sad, that you see how a family leads to quarrel because of money problems.

If you’re reading this right now, and you want a change on how you handle your money, focus on the lessons that you will get on this 7 Rules of Money.

1. Pay Yourself First (Save first before you spend)


Do you want to know why many people don’t have savings? Why they keep on struggling financially? It is because they don’t practice this first rule of money (paying yourself first).

You pay your bills. You pay your debts. You Pay other people. But you forget to pay yourself first. You pay yourself first so that you can save more & invest more for you to achieve your financial goals in the future.

On your quest to achieve your financial goals, this is the most important habit that you need to learn.

“A part of all you earn is yours to keep” – from the book Richest Man in Babylon


Here is how it is being done. When you receive your salary, commission or income from business, automatically set aside at least 10% of your income. You can open a bank account wherein you deposit or transfer there the amount of your savings.

You may ask me, I only earn small so how can I set aside a portion of my salary if I can barely budget it for my expenses?

My answer would be; you control your expenses knowing what is only important;

and Increase your ability to earn.

But what I would like to emphasize here is not the amount but the Habit of saving is more important than the amount. 

The amount that you save for yourself will be the seed that will ultimately become a tree of wealth.

2. Control Your Expenses (Simplify)


Have you notice that whenever you reach a promotion or a pay raise, you also upgrade your lifestyle? You increase your income but you also raise your expenses and in turn, with regards to savings, you still save or not save the same amount of money when you are not yet promoted. Silly right? But this is true. For those working, when they are still rank and file employees, they are just contented to eat in the canteen, ride public jeepney or bus but all of a sudden when they are already managers, or has been promoted, What now? They eat in a restaurant most of the time.  They either take a car loan or ride in a taxi as a means of transportation. They buy their property even if they are not yet ready financially etc..I’m not saying that it’s not good to do that. All I’m saying is control your expenses as you’re in the process of building your wealth.

With regards to daily expenses, you can also check those that are really needs. There are expenses that we can cut. On our part, we used to buy in the market and cook our own food instead of eating in a restaurant.  We only eat in a restaurant when there is an occasion. My wife while she is working used to bring her own baon for lunch. Imagine the savings that we can set aside from the food alone.

With regards to transportation,  we just bought for cash a 2nd hand car Toyota Innova year 2007 model and in good running condition for almost P400 Thousand only instead of getting a brand new car for a loan wherein you pay for interest also.  Again, I’m not saying that you also do what I do, we have different level of simplicity. Maybe, what is simple to you is buying a brand new car and that is perfectly Ok. What I’m saying here is find a way wherein you can simplify and control your expenses.



3. Invest (Grow Your Money)


Once you’re able to develop the habit of paying yourself first, saving a portion of your income consistently, the amount of your savings will continuously grow through time. But you also need to find a way to make it grow more and multiply.  There are various ways wherein you can grow your savings and turn it into investments.  Here are some of the suggested investment vehicles that you can consider.

  • Investment in Stocks Long Term – If you’re not familiar with stocks, it represents an ownership share to a publicly listed companies like Banks (BDO, BPI, Metrobank etc..), Conglomerates like SM, Ayala, San Miguel etc… Imagine that you will become a part owner of those big companies by investing in stocks. Nowadays, you can start investing in stocks by opening an account to a Stock Broker (i.e. ColFinancial) for as low as P5thousand.  That Investment will be your account balance when you are buying stocks of a particular company. Please note that in the stock market, there are 2 kinds of investor, Traders and Long Term Investor. I recommend that you become a long term investor not a day trade Traders. On my part, I’m mentored in stocks investing by being part of a group (Truly Rich Club) by Bro. Bo Sanchez. All the recommended stocks where given to us, when to buy, when to sell etc…If you want to learn more about stock investing, you can message me here..
  • Start a Business – Find a particular business where you’re so passionate about and start from there.
  • Other source of investment that will let your money create money for you. Just make sure to study and learn well before you enter into it.

4. Guard Your Investment from Losses


How many have lost their lifetime savings and hard earned money by investing in scams and pyramiding schemes? Majority of us are attracted to those easy money schemes that offer bigger returns, and when you wake up, you have found out that the company is already closed and the owners have fled already. How many times that we read and watched the news about those scams and how many people have been victim of it. I wonder why people wants the easy and quick way of acquiring money.  It is either we’re lazy or don’t want to take the process of building wealth.

It is not only scams that we need to be cautious in investing our money.  There are business proposals out there from a friend or relatives, that might lure you from investing. You need to be careful even if it is a friend or relatives especially when he/she doesn’t have the expertise on such business. But if you think, it is a good business plan, after carefully studying it, then go for it.

5. Increase Your Ability To Earn


Our earnings depend on our ability and skills.  The only way to increase our income is to increase the value that we give to the marketplace. We increase our value by continuously improving and learning.  By learning new skills (leadership, communication, people skills etc…), you will surely increase your ability to earn. Others will get their MBA degree or study other degrees for them to increase their value and ultimately their earnings. For those business minded people, self-education is a key to continuously improving.



6. Give (The Secret of Wealth is Giving)



There is a power in Giving. When you give, God will give you back tenfold. Also based on my experience, when I give, the joy on the recipients bring happiness to me. Thus, I like the feelings of it and give more.  It’s been 2 years now when I started to set aside portion of my income exclusively for giving.  And God has blessed me more on it. If there’s one purpose why I wanted to become financially successful, it is because I want to give and help more people.  That is my purpose in life, to bring happiness to other people who are in need financially, spiritually, emotionally, physically..


7. Develop the Right Mindset/Money Blueprint


Money blueprint

Whether you know it or not, the way you handle your money is based on your money blueprint.  Our money blueprint has been ingrained in our subconscious mind since we are young up to where we are right now. It has been developed in your family through modeling on what you’ve seen from your parents and siblings on how they handle and deal with money. You were affected by the people on your surroundings such as friends and groups through verbal programming on what you have heard with them about money. Through your experiences with money, you formed the habit in handling it.

You will be aware of your money blueprint right now by evaluating your financial life. Do you have a good financial standing right now? Do you continuously save and invest? or Do you continuously spend what you earn? Your answers to this, is your money blueprint right now.

The good thing about it, is you can reprogram your money blueprint to financial success. The first step is awareness and once you’re aware of what to improve on yourself, it will be a good sign of progress.

Start your progress by reading books or articles about money management. You can find article in various social media platforms like Google, Youtube etc..


I hope that this simple article will help you on your financial aspects of your life.


More Power and Godbless!!!




Ralf Roger Tagao,

CPA/Licensed Real Estate Broker










Hi, I’m Ralf Roger Tagao, a CPA & Real Estate Broker. My passion is reading books about business, success, leadership and all other motivational books that help me develop myself more. I love to share my ideas, knowledge and learnings to other people that I think will benefit them.

The Universe Is an Eat All You Can Buffet Table

The Universe Is an Eat All You Can Buffet Table

“You do not have, because you do not ask” – James 4:2


I’ve come across with this eat-all-you-can buffet analogy from one of the books of Bro. Bo Sanchez, a preacher, leader and entrepreneur in the Philippines who authored more than 40 bestselling books.

We all know that in an Eat All You Can restaurant, we can eat all the food and drinks served on that buffet table. All we need to do is to get and grab the food and drinks that we want.

But let us assume that you’re not aware about Eat All You Can, and one of your friends invited you and pay for you without knowing that you can eat all the food in the buffet.

You just came from the far away barrio and you are not sure about what to do in the restaurant.

You just waited inside and when you felt hungry, you ask the waiter, when will they give me food?

The waiter replied, “Sir, this is an Eat All You Can Buffet and customers go to the table and get what they want.” You are shocked since this is the first time you’ve ever been into this place. You ask the waiter, I can just get what I want? The waiter smiles, “Yes Sir”.

You stands up and walks toward the buffet. You ask the waiter again, Can I get this food? Can I grab this dessert? and drink this juice? The waiter replied, “Sir, you don’t have to ask my permission to get anything. Just go ahead and get it. All the food on the table is potentially yours. All you have to do is grab it.”

My friend, everything we need is here, available to us on God’s buffet table of blessings.

Every Blessing on the Table is Potentially Yours

All the wisdom you need.

All the friends you need.

All the joy and happiness and fulfillment you need.

All the money you need.

All the resources you need.

All the healing you need.

All the opportunities for growth.

Every blessing in the universe is potentially yours. Our problem is that we’re sitting with our empty plates, still waiting for the blessing. We need to stand up and grab the blessing.

Stand Up and Grab the Blessing

~ Don’t wait for the perfect job to land on your lap. Create the perfect job. Discover your gift. Develop your skill. Hone your craft. Hone your craft. Make yourself valuable. Make mistakes. Double your rate of failure so that you can double your rate of success. Grab the blessing.

~ Don’t wait for money to come. Create ways on how the money will flow into your hands. Learn how to sell. Learn how to manage your finances. Read books about personal finance. Attend seminars on money management

~ Don’t wait for health to just happen to you. Exercise daily. Eat nutritious food. Have enough sleep. Get enough sunlight in the morning etc…

Grab the blessings my friend. It is just available to us…


Hi, I’m Ralf Roger Tagao, a CPA & Real Estate Broker. My passion is reading books about business, success, leadership and all other motivational books that help me develop myself more. I love to share my ideas, knowledge and learnings to other people that I think will benefit them.