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Creating your own financial rules to live by

graphic of calculator and two documents

Have you ever heard common financial wisdom, from family and friends or financial experts, and said to yourself, “that sounds right, but I can’t do that”? Consumers have told us that they sometimes find common financial advice — like “save 10% of your income” — hard to apply to their own circumstances. Some common financial advice may feel beyond your reach based on your current financial situation.

Don’t feel discouraged — you can create your own personal rules to live by that work for your financial situation. We have created three worksheets to help you create your own money rules around savings , checking your credit report , and spending and budgeting . These worksheets can help you decide on a goal, create a personal financial rule to live by, and make a promise to yourself to act on your goal. And using the worksheet to write down your goal will make you much more likely to stick to it.

Just like lane markers on a highway, your money rules to live by are guidelines that keep you moving in the right direction. You might have to speed some things up, slow down others, or change lanes from time to time, but your money rules can help you reach your financial destination.

To read the research that helped inform these worksheets, and to hear about how other consumers think and feel about rules to live by, take a look at our Consumer Voices about Financial Rules to Live By report.

If you are a financial educator or work with consumers around money issues, check out the Financial Educators Digest on Financial Rules to Live By .

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