8 Rules for Finance

I recently read a brilliant (although somewhat controversial) book by Jordan B. Peterson, a Canadian Clinical Psychiatrist who has been the center of much media attention. The book is called 12 Rules for Life: An Antidote to Chaos, and outlines maxims for one to live by. These things include telling the truth, making sacrifices for your long-term goals, and caring for yourself as you would a close friend. I was actively reading this work while writing this book, and it inspired me to come up with eight rules for finance that you should live by. We’ve already discussed the ideas behind beating inflation, owning assets, and portfolio construction, but personal finance is so much more than that. Your portfolio is one aspect of your financial profile, and I would be remiss if I didn’t touch on any of the other aspects. These topics don’t fall as neatly into an organized story, so we will approach each as its own rule. We will start with a simple one.