Codie Sanchez lays out seven money rules for young adults: spend less than three months of income on non-income-generating purchases, delay impulse buys by a week, don't buy anything you can't afford repeatedly, and never let one purchase drop your net worth more than 5%. Your financial ceiling equals your skill ceiling.
Chapters
Nobody taught you the rules of money. My parents didn't either. And so a lot of us stay broke. But there are 7 rules that will change how money works for you. The first one is your 20s aren't for flexing, they're for stacking. The only thing I want you shopping for is skills. Rule number 2, if the purchase doesn't generate income, it better cost less than 3 months of income. Rule 3, if you can't buy it multiple times, you cannot afford it. Rich people buy margin, poor people buy vibes. We don't want to play that game. Rule number 4, most spending spending isn't actually something you need. It's like an emotional urge. Just wait a week. If you still want it, maybe you can buy it. Rule number 5: your income only grows if you grow. Your financial ceiling is your actual skill ceiling. Rule number 6 is start investing early. Time is the cheat code nobody respects until you don't have it. And the last one, the net worth shock: a single purchase should not reduce your net worth by more than 5%. I believe a big part of making money is just surviving the downsides. So if one buy can meaningfully set you back, we don't want to play that game. Most people aren't bad with money. We just were not taught these formulas. Once you got the formula, it's a lot easier.
