He had it all by age 30, but was still ‘miserable’ — now he’s following these money rules

I spent the last three years of my life studying money and wealth.

During that time, I’ve developed and really tested my own money principles, mindsets, tips, guardrails, and tools that help me create a life that feels truly fulfilling.

Here are 25 money rules I follow to live a wealthy life.

You can accomplish a lot just by avoiding mistakes like stupid impulse purchases, avoidable debt, emotional investments, and neglected responsibilities. Slow down, think clearly, and protect yourself from yourself.

Markets fluctuate. Seasons change. Businesses rise and fall. Your values ​​should be rooted in something deeper, such as your personality, values, relationships, interests, and service.

You can’t improve what you don’t track. Get a clear picture with financial tracking and management tools.

Manage your financial expectations by keeping your lifestyle below average, creating slack in your system, and never matching your financial leaps with lifestyle advances.

The people who do the best financially are usually the ones who are obsessed with solving real problems, making a real impact, and genuinely helping others.

The benefits of improving your skills, expanding your scope of work, creating new revenue streams, or stepping into a more impactful role pale in comparison to the difference in market returns of 6% or 8%.

If you are buying a product for practicality, always invest a little more and choose quality. It lasts longer and causes fewer headaches.

The world is full of silent scripts about what you should buy, achieve, and own by a certain age. Most of them are complete nonsense. Your life is not a competition with anyone else. There is no timeline. You can create it yourself.

Never use debt to live a life you really can’t afford. A simple rule I follow is to never finance a luxury purchase if I can’t buy it twice as much with cash.

This reduces impulse purchases and increases your savings and investment rates. If you still want to purchase after 24 hours, please do so.

There are two types of investments: those that require money and little time (index funds) and those that require money and a lot of time (active apartment complexes). Be sure to consider both when evaluating the revenue of an opportunity.

Early in my career, I started angel investing in early stage technology companies. On paper, it didn’t make much sense. I didn’t have much spare capital and knew that most startups would fail. But what it lacked in economic benefits, it made up for in access, networking, and learning.

There are many things that may seem like expenses, but are better considered investments in yourself, such as fitness, quality food, books, personal development, and mental health. You’ll have more energy, feel better, and present yourself better in the world.

When you start making more money, you have a whole menu of options to reduce the small frictions in your life. You can hire a personal chef, full-time cleaners, staff, or a driver. But sometimes that friction created meaning. Cherish meaningful friction in your life.

Money problems rarely arise from mathematics. It comes from misalignment. Monthly financial check-ins create transparency, trust, and shared direction. Focus on values. What’s important this month? What’s not?

When you factor in the magic of compound interest, even small percentage increases can have a huge impact in the long run.

It may seem like overkill, but the peace of mind is worth it. Knowing that you have financial security will help you identify and take advantage of exciting opportunities when they arise.

If you are willing to imagine the bad times during the good times, you will be able to get through them safely. What would you do if you lost your job? What do you do if you have large medical expenses?

Best-selling financial author Ramit Sethi says people ask the $3 question (Can I buy this coffee?) when what really matters is the $30,000 question (How can I make twice as much?). As I try to figure out how to get my third promotion in the next year, I see friends spending countless hours optimizing their credit card points. Some people love playing credit card points games, but unless it brings you joy, skip them.

The barbell has weights on each end and nothing in between. In the barbell investing approach, the majority of investments are made on the safe, simple, and stable side (e.g. index funds, bonds, cash), and the rest are on the high-risk, high-reward profile (e.g. startups, cryptocurrencies). The goal is to have some high risk but high reward, but don’t take too much risk because it’s only a small part of your overall finances.

Accounts everywhere, investments you don’t understand, obligations you can’t track. This is how people lose control. Automate, integrate, and reduce unnecessary friction. The simpler the system, the more likely it is to stay the course.

Eliminate cognitive burden and free up headspace to execute on bigger opportunities that will help you earn more.

I found myself paying hundreds of dollars each month through burn-through on random subscriptions that I never used and didn’t even know I had. Use financial tracking tools to find and eliminate these.

Be frugal with yourself and generous with others. Generosity produces far more happiness than consumption.

I believe the best use of money is to create one of four things in life: time, experiences with loved ones, purpose, and health.

Sahil Bloom is an entrepreneur, investor, and inspirational writer and content creator behind the biweekly newsletter, The Curiosity Chronicle. He is the author of The 5 Types of Wealth: A Transformative Guide to Design Your Dream Life. Follow him on Instagram, X, LinkedIn, and YouTube.

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This article is an edited excerpt from Sahil Bloom’s newsletter. Reprinted with permission.