Eight Financial Rules

Piece I saw earlier this week over at "Business Insider" on eight personal financial rules.  I liked the article so I'll list the rules.  Go read the whole thing here.

1.  Spending money to show people how much money you have is the surest way to have less money.  Ok this is the only part I'll talk about other than the rules and that's because I love the response the money manager gave to being sued by the singer Rihanna for not doing her job when she found herself effectively bankrupt in 2009.  "Was it really necessary to tell her {Rihanna} that if you spend money on things you will end up with things and not the money?"

2.  Wealth is completely relative.

3.  The goal of investing isn't to minimize boredom, it's to maximize returns.

4.  The only way to build wealth is to have a gap between your ego and your income.

5.  The most valuable asset you can have is a strong propensity to not care what others think.

6.  Spend more time studying failures than successes.

7.  People are flawed so a lot of stuff makes no sense.

8.  Anything can happen at any time for any reason.