Simple principles of personal finance

There are many resources like book, websites, courses, newsletters, etc on personal finance that teach you the methods of success in personal finance. These methods may be good and also practical but they may not necessarily be the best for you. You will always have to tweak them to suit your personal situation. No wonder it is called ‘Personal’ Finance and not ‘Generic’ Finance.

Principles are few; Methods are many.

The art is to master the principles and then apply them to your own situation and make your own methods. An opportunity lasts only for a while before it is public knowledge. Once it is known by all, it will quickly vanish; this makes it even more essential that you are always trained in principles not methods.
Here are the simple principles of personal finance:

1.Spend less than what you earn or earn more than what you spend
2.Make your money work hard for you.
3.Prepare for the unexpected
4.Take control of your money, career and destiny.

In some following articles I will walk through how you can apply these simple principles of successful personal finance to your methods.