Below is a list of core principles that I live by. These are not absolute truths and are bound to change with time. Some may be added; others, removed. I have not organized these principles in any specific order, but I have grouped them into the categories of Finance, Lifestyle, and Work. The “Lifestyle” section more or less covers everything not included in Finance or Work, but there is overlap in one form or the other between the categories. I encourage you to take the time to decide on what your own principles are.
Core Personal Finance Principles
- Don’t carry a month-to-month balance on credit cards (pay off balances each month).
- An emergency fund is necessary.
- If you have no option but to pay for it in payments, you can’t afford it.
- Have a budget.
- Know your income, expenses, savings rate, and net worth.
- Seek to maximize tax advantages.
- Spend less than you earn.
- Save, anything.
- Aim to save 40%+ of your income.
- Avoid fees.
Core Lifestyle Principles
- Know Your Why.
- Prioritize health.
- Plan for the unexpected.
- Simplify everything as much as possible.
- Be Present – Focus on experiences, not things.
- Dare to be weird/unconventional.
- Stay Humble.
- Be a lifelong student.
- Manage your time effectively.
- Know your priorities, principles, values.
- Always seek to improve.
- Be honest.
- Help others.
- Focus on the things you can control. Do not worry on the things you cannot.
- Act intentionally. Do not do things without thinking first.
Core Work Principles
- Take ownership of your successes and failures.
- Know your worth.
- Seek feedback regularly.
- Remove distractions. Seek flow.
- Stay organized.
- Prepare. Prepare. Prepare.