7 Golden Laws of Money for Financial Success

3 min readOct 25, 2021


These days Money management advice seems easily available everywhere you turn, especially with friends and family who are often eager to share their opinions about how you should manage your money. However, what if I told you that there are seven golden rules that once you master them, you’ll never have to worry about financial mistakes anymore. Here are seven golden rules of money management to remember often.

1) Never spend more than you earn.

As simple as this rule may seem, quite a number of people have a hard time abiding by it. In today’s materialistic world, it is not uncommon to see young people spending more on their wants than on their needs. Whether it is due to peer pressure or the need to impress, whichever way when you spend more than you earn, it won’t be long before you go broke.

2) Spend more on assets than liabilities.

Assets are simply the things that can bring in more value back to us. Technically an asset is anything that generates resources. Depending on individual preferences, assets can include buying a house, land or equipment for business. On the other hand, liabilities are things that, after being acquired, continue to take from us, especially financially. As a rule of finance, it is important to identify your wants and needs. And understand the difference!

3) Don’t save what is left after spending.

This is a common trap, and a lot of us fall into it quite frankly. The mistake of trying to save what is left after spending is that most often than not, we realise there’s little or no money left. To avoid this trap, it’s advisable to take out your planned savings first, then discipline yourself not to exceed what is left. To be extra safe, the best practice is to have your planned savings locked in a savings and investment plan. Essentially financial needs like these are the reasons why BizVest exists.

4) Resist the urge to spend money to impress others.

The act of keeping up with the Benjamins is most often the reason why most people spend to impress. Others speak to it in the guise of “Looking the part”, “Fake it till you make it” and many more philosophies in defence. Whatever it is it will be nice to be reminded that when you go broke, not so many people will be willing to help. Eventually, you’re on your own!

5) Don’t keep all your money in the bank.

Not in this era of inflation on the rise, especially in Nigeria. To keep money fallow for so long without yielding interest of any sort makes you lose out from so many financial opportunities. A typical example of where to keep your savings is with a secure savings and investment platform such as BizVest where you earn interest monthly on your savings. If you’re committed to saving with such platforms, you stand a chance to be rewarded for your consistency over time.

6) Learn to practice delayed gratification.

Delayed gratification simply implies delaying or denying oneself some pleasure until after a period of time. Applying this rule to your life would significantly help you become more disciplined with money. The entirety of this rule is that you identify your priorities and focus on them first before indulging your wants.

7) Keep money aside for unexpected situations

They will surely come. That’s why they’re called emergency. However, when you consciously keep money aside, you stand a better chance of handling emergencies more thoroughly.

Most people, however, struggle to save, keep funds aside or are rather unclear how to manage their funds. If you are in this category, you’re not alone.

Another golden rule of financial success is to consult financial experts when one needs speciality advice. A platform like BizVest allows for a 15 minutes call-in session for free to discuss any questions you may have about savings, loans and investment. Visit www.bizvest.co to learn more.




BizVest is a platform where business owners can gradually save much needed funds to scale, while earning decent interest rates above the money market rates