While everyone wants to be financially stable to pay for the necessities, most people want to be financially wealthy and not have to live paycheck to paycheck. Most people want to see their children go to college, have an operational vehicle, and running appliances. This is not extravagant living – it’s providing a financially secure life for you and your family. Here are some core financial principles for success. 5 Financial Principles On Investing Invest your time in creating a budget. While this sounds an easy thing to do, less than 20% of Americans create a budget. Most people do not think about how much they have versus how much they’re spending when they swipe their credit card. Rule: Don't spend more than what you make. (Spending > Income = Downward Spiral) If you are not intentionally monitoring your expenses, they will get out of control. As responsible adults, we must keep a budget and know what is coming in and going out each month when it pertains to our finances. Invest in Yourself. One of the financial principles that doesn’t usually fall under the “Financial Rules” is to make sure you are investing in yourself. Invest in yourself to become smarter, wiser, and more efficient in your field. Invest in a plan. Not only is budgeting important but knowing where you want to end up is crucial. The Bible says in Proverbs 29:18, “Without vision, people perish.” If you take time to plan for your future, you will have a better chance of reaching success whether your goal is to get out of debt, purchase a home, or save for retirement. Buy Assets, Not Liabilities. Rich Dad Poor Dad is a book explaining the importance of putting your money towards things that appreciate and not things that depreciate. The author also explains the difference between assets and liabilities. An asset is a rental property, dividend stock, or money market account that grows in value and puts money back in your pocket each month. A liability is a vehicle, new phone, boat, or anything that loses value the minute you buy it and takes money out of your pocket. Investing in assets is the best way to build long term wealth. Invest in things you understand. Most people miss the mark when it comes to investments because they don’t know what the PE Ratio is, how the business makes money, what their net income is, or if they provide dividends if the stock stays flat. Warren Buffett, one of the greatest investors of all times, says, “Invest in what you know.” While there is more to learn on financial success, investing in your future with these five principles is a good place to start. Read more in Financial Principles for Life to get a better roadmap to financial success.