10 Commandments to Keep Your Finances in Check

Managing one’s personal finances can be such a struggle for some people. This doesn’t mean though that keeping one’s finances in order isn’t doable.

Follow these 10 commandments to help manage your finances better.

Feel free to use this image just link to www.rentvine.com

  1. Thou shall take action.

All the books you read about personal finance won’t help you if you don’t practice what you learn. You need to take action to improve your situation.

  1. Thou shall prioritize paying off your credit card debt.

Every time you neglect to pay your credit card bill, you make your debt bigger. So, always make it a point to pay more than the minimum amount. That way, you’ll be able to pay everything off in a few years.

  1. Thou shall know how to separate your wants from your needs.

Draw the line between your wants and needs. This will help you manage your finances better as you will know which to prioritize in your budget. A little luxury won’t hurt, as long as you don’t overdo it.

  1. Thou shall live within your means.

If you’re trying to pay off a debt, this is the fastest way to do it. By spending less than what you earn, you’ll be able to save money. But if you can’t afford to lose the luxury you enjoy, you should find a way to increase your income.

  1. Thou shall set aside some cash for your savings first.

What people usually do is pay off all the bills first and then, save whatever’s left of their salary. But to ensure you’ll have money for future use, you have to set aside 10 percent of your earnings first.

  1. Thou shall have financial goals.

Define financial goals so you will be able to plan how to achieve them. Specify what you want to achieve within a year, five years and ten years.

  1. Thou shall educate yourself.

Some people find it easier to entrust financial matters to an expert. But this can do more damage to your finances. If you want to be financially responsible, take the time to educate yourself and learn everything you need to know about managing your money. There are lots of free sources to help get back on track.


  1. Thou shall invest your money.

This is one way of earning more to pay off your debt and gain financial independence. But don’t jump into the bandwagon without knowing anything about investments. Learn from professionals and take everything to heart.

  1. Thou shall protect your hard-earned money.

Usually, the best way to protect your finances is through insurance. So, insure all your assets properly to safeguard your wealth and your family’s future.

  1. Thou shall give back.

Even if you find yourself neck-deep in debt, there will always be people who are far less unfortunate than you are. Make it a point to donate to a worthy cause, as a way of being thankful for the things that you still get to enjoy.