The Rules of Money Summary I What Rules You Follow

Share with:

Book – The Rules of Money (Summary)

Author – Richard Templar

Genre – Self-help Book

Published in – 2007

When It comes to Money, We have an inherent belief that it is good or bad and that wanting it is good or bad. That loving it is good or bad. That spending is good or bad.

Money is one subject, irrespective of our feelings about it, plays an important role. There are as many opinions about money as there are people.

Richard explains that we all pursue, desire, and fiercely protect money because of what we can do with it.

The Rules of Money will help you determine the prerequisites of money-making, like what rich means to you, how you intend to get there, and how long you expect it to take.

About the Author

Richard Templar Photo
Image Credit –

Richard Templar is a British Author. He has written self-help, personal development, and Management books. In a series of books like The Rules of Life, work, love, wealth, parenting, money, and Management are shared about 100 rules on the subject.

His style of writing is simple and effective. Books are designed so readers can read any chapter without reading prior chapters. All rules are put in a maximum of one or two pages.

About the Book

In The Rules of Money, Richard Templar shares 107 ideas that one can apply and get better with money.

The Rules are divided into 5 Parts. 1) Think Wealthy, 2) Getting Wealth, 3) Getting Even Wealthier, 4) Staying Wealthy, 5) Sharing Your Wealth.

Part I Think Wealthy

If we subconsciously believe that money is wrong, we unconsciously undermine our efforts to make money.

Only thinking good is not enough, and we do have to put in the effort to make money. It’s like sports; the more we practice, the better we get at it.

You’ve also got to know pretty intimately what you want, why you want it, how you think you will get it, what you will do with it after you’ve got it—stuff like that. No one said this was going to be easy.

Rule 1 – Anybody Can Be Wealthy—You Need to Apply Yourself

  • The lovely thing about money is that it doesn’t discriminate. It doesn’t matter what color, race, creed, or even who you think you are. As Henry Ford puts it, “Whether you think you can or can not, You are right.”
  • We must write down what we think about money, our inherent beliefs, how we got it, and whether it serves us well.
image of dollar currency notes

Rule 2 – Decide Your Definition of Wealth

  • This is one of the most essential requirements when embarking on the journey of getting good with money. Decide for yourself; yes, it may take more than one sitting. It may change occasionally as life happens, which is OK.
  • But by all means, please define what being enough is to you, not what others think is enough for you.
Woman expressing Shh image

Rule 4 – Keep It Under Your Hat

  • This one is tricky. We often start talking to people when we do something new, plan, think, or start something new.
  • Richard suggests that we must keep our money goals to ourselves, as people with different views will try to talk us out of it. So, discuss money matters only with someone you’re looking for suggestions/guidance.

Rule 7 – Understand Your Money Beliefs and Where They Come From

  • We get money beliefs set way early, and most of us let it affect our lives. If you are unhappy with your financial situation, you must first check your money beliefs.
  • There are high chances of derailing our efforts for what we believe about it. Your belief should work for you, not against you. As they say, “What is right is what works.”

Rule 18 – Don’t Envy What Others Have

  • This is one of the biggest impediments to riches. We often look at successful people and write them off as lucky. We envy what they have and ignore entirely the kind of effort they put in.
  • Richard suggests that we should look into the efforts of rich people and learn from them. That’s the best gift we can give to ourselves.

Part II – Getting Wealthy

Getting wealthy is all about taking a hard, honest look at our situation and resolving to act according to wealth. Many of the Rules here are behavioral; changing your behavior is never easy.

I like Richard’s suggestion in this section: Some rules may seem simple, and that is when you are supposed to ask, “I may already know this—but do I do it?”

blank book blank page photo

Rule 20 – Know Where You Are Before You StartWe can’t plan how to reach our destination unless we know where we are. This isn’t very comfortable to face, especially when our money scene is not rosy. Yet we must face it, own it, and put it down on paper.

Rule 29 – It Is Never Too Late To Start Getting Wealthy

  • This one gives hope to everyone who has spent their way to luxury in their twenties or thirties, thinking they have enough time to save and invest.
  • As the rule says, once you realize and decide, you can work out your plan and work on your way to riches. Though starting early has its advantage of COMPOUNDING, one can always take a reality check anytime one wakes up and begins.
consolidating debt photo

Rule 42 – Consider Consolidating Debts

  • Richard encourages us not to have debts, though we are only humans, and we all have been there having consumer debts, spending more than we can pay, and getting into a rut.
  • Consolidating debts can help save more money and build a corpus comparatively faster. Also, we must refrain from getting into the same debts again at all costs.

Rule 45 –Don’t Be Too Busy Earning A Living To Make Some Money

  • Richard suggests that you must consider how you make money if you’re not meeting your financial goals from your primary work and don’t have time for living outside work.
  • You may consider a side hustle or convert your hobbies and other skills into money-making projects.

Part III Getting Even Wealthier

As they say, when you have got a bit of money behind you, the whole thing gets a bit easier. Money begets money.

But seriously, after you have started to move toward prosperity, it isn’t a good idea to sit back and start counting your loot. It’ll disappear faster that way than by any other means.

two men discussing business

Rule 71 – Get Some Money Mentors

  • You can only reach up to a limit alone in any endeavor, and getting rich is no different. If you want to get wealthy, having mentors to guide you is essential.
  • As you set bigger goals and your wealth expands, you will need more advice to stay the course.

Rule 75 – Know Yourself—Solo, Duo, or Team Player

This especially applies when choosing work you love and starting on your own. Based on your preferences for working alone, with one partner, or in a team of multiple people, you can choose a project to love what you do and do it the way you want.

Rule 77 – Don’t Try to Get Rich Too Quickly

There is no shortcut to riches. Becoming wealthy is the process; attaining maturity and wisdom to sustain wealth is also a process we learn only with time and experience.

Part IV – Staying Wealthy

They say that getting rich is one game, and staying rich is another. Though we do get some wisdom working for riches, there are way too many things that surprise you in how you manage your wealth.

Rule 89 – Don’t Spend It Before You’ve Got It

This one is straightforward, yet we often miss this one. We tend to increase our expenses before future income or growth materializes.

enough word image

Rule 95 – Know When To Stop

  • As we reach a level where our wealth is constantly growing satisfactorily, we should press enough buttons and focus on other areas of life or prioritize other things.
  • As we age, our priority changes, and having solid wealth allows us to choose options with ease.

Part V – Sharing Your Wealth

If you have much, give of your wealth; if you have little, give of your heart.” – Arab saying.

I’m not talking do-gooding here. I’m talking about sharing because sharing is a kind thing to do. It won’t buy you a ticket into heaven, but will help others.

Rule 96 – Use Your Wealth Wisely

Richard suggests using our wealth wisely. As we grow rich, there are always people whom we can help out. If you have set your goals using your inner compass, you’ll not have difficulty parting your wealth for a good cause.

Rule 100 – Know When/How to Say No—and Yes

Some people expect help, loans, and charity as they grow rich. You should know and set some rules and not hesitate to say No if the request does not convince you. You may consider reading the book The Art of Saying NO for ideas on how to say no gracefully.

The Rules of Money Recap

  • Check Your Money Beliefs
  • Get a reality check (Taking stock of your current financial situation).
  • Set objectives
  • Make a plan (how to, time-line, kind of work)
  • Spend less than you earn. ( Golden Rule) (Very simple, yet Mostly Ignored)
  • Avoid debt, and pay off fast if you have some. (Very Important one)
  • Once you get rich, learn to stay rich. (Mind you, these are two different games.)
  • Protect your wealth, and make sure it grows consistently ( Have Money Mentor)
  • Share your wealth (Help the less fortunate; the more you share your wealth wisely, the more it will multiply.)

I have also created a video of a few quotes from the book – I hope you like it. Please subscribe to my YouTube channel – Myread4change.


The Rules of Money is a fantastic book to help you organize your finances. I highly recommend this book and encourage you to read and implement these rules.

I hope this summary helped you in some way in your financial matters. If you like this book, you may also like The Automatic Millionaire.

Thank you for reading. I wish you a life full of Abundance.


Share with:

11 thoughts on “The Rules of Money Summary I What Rules You Follow”

  1. Spot on with this write-up, I truly believe this site needs a great deal more attention. I’ll probably be returning to see more, thanks for the advice!

  2. Hi there! This post couldn’t be written much better! Looking through this article reminds me of my previous roommate! He continually kept talking about this. I’ll forward this post to him. Fairly certain he’s going to have a great read. Thanks for sharing!

  3. Aw, this was an incredibly nice post. Spending some time and actual effort to make a superb article… but what can I say… I put things off a lot and never manage to get nearly anything done.

  4. I do agree with all of the ideas you have introduced on your post. They’re very convincing and can certainly work. Still, the posts are very short for novices. May you please extend them a little from subsequent time? Thank you for the post.

  5. Aw, this was an exceptionally good post. Finding the time and actual effort to create a great article… but what can I say… I put things off a whole lot and don’t seem to get nearly anything done.

  6. I was very pleased to discover this site. I wanted to thank you for your time for this particularly fantastic read!! I definitely liked every part of it and i also have you saved to fav to check out new things on your blog.

  7. Hi there, just became alert to your blog through Google, and found that it’s truly informative. I am going to watch out for brussels. I will appreciate if you continue this in future. Numerous people will be benefited from your writing. Cheers!


Leave a Comment