I get asked by a LOT of people to come onto the show. That’s the price of having a lovely audience like you, which other folks would like to get in front of. But because you’re so lovely, I’m VERY picky about who gets to come on. But today’s guest made the cut…

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12 Rules for Money Management with Rob Moore

Rob Moore styles himself as the disruptive entrepreneur and he has a very successful podcast of the same name. When his people approached me I did some digging and, I don’t mind admitting that I wasn’t sure. Was he a kind of get rich quick merchant, or an over-the-top self-promoter.

I actually don’t think he’s either of these things, and as you’ll hear from our conversation, he shares much of the same views as I do about money, he’s just coming from a slightly different angle, and that’s good for you to hear. So I thought I would drop it into the feed here for you as an inbetweenisode.

Here are Rob's 12 rules:

1. You won’t keep more money until you learn to manage what you already have
2. Extreme emotions, good & bad, erode wealth; manage money logically
3. Get out of debt first
4. Never spend more than you earn
5. Save a target % of your income & increase it over time
6. Max out your ISA every year (& other tax-free savings/investments)
7. Invest in assets that pay passive income that you invest back into assets
8. Set up a SANT bank account. This is for money you S.ave A.nd N.ever T.ouch
9. Follow the 5 levels of saving money
10. Prepare lunch & coffees before work. If you make your own lunch and don’t buy £4 coffees twice a day, you can save around £90 a week
11. Don't buy clothes, gadgets or fripperies for a year. Only buy liabilities from passive income which preserves your cash.
12. Take some risks. Take calculated risks that seem risky but have the downside covered

 

Resources mentioned in this episode

Website: RobMoore.com

Twitter: @RobProgressive

LinkedIn: Rob Moore

Facebook: Rob Moore

YouTube: MeaningfulMoney Channel

**Sorry, no transcript this week**

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