TEMPLE, Texas — What if there were just a few rules that if you adhered to them financially, your life, when it comes to dollars and cents, would be just great?
That's why we're here with Money Talks! The rules to make you wealthy and make you financially healthy are here. There are basically three that you need to follow.
Rule number one, with how easy it is to obtain credit these days, don't spend more money than you make.
Financial Planner Rolandus Johnson stressed that one.
"Whooo, that's the biggest one. That's like the big golden rule right there. And again, you make your money, you work hard for it and you want to spend it," Johnson said. "I understand that and we're all at times prisoners of the moment. But you know we always talk about financial freedom and the guys and the girls that are doing it right, they never spend more than they make."
Once you spend less than you make, move onto rule number two. Johnson said that is to consider your retirement a bill that you are always paying.
"The best thing to do is to pay yourself first. Not only that but look at your goals and readjust your goals at least annually," he said. "That is something that I preach consistently to all of my clients. Pay yourself first, set a goal, review it, at least annually and if you would, adapt those goals as your situation changes."
That brings us to rule number three. After you pay yourself, do smart things with that money.
"Stick to a plan. If you're going to put a hundred dollars away, invest it somewhere," he said. "And another short little saying that we use in the financial world is that ‘Time in the market is more beneficial than trying to time the market.’ So there's no great time to get into the market, always just get in, once you get in, stay in, and you're nine times out of 10 going to win."