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All The Financial Advice You’ll Ever Need (On One Page)

Here’s another excellent article from our own Andrew Nuttall.  This ran in last month’s local law society publication ‘Canterbury Tales’ and contains the sort of advice we’d love to see taught in High School, but is equally relevant to people of all ages.

Jim Rohn, the author of ‘The Art of Exceptional Living’, once said, “success is nothing more than a few simple disciplines, practised every day”.  Many of the most successful investors aren’t necessarily the smartest, or blessed with amazing talents, but do have the discipline to do the simple things well, and to do them over and over again.

Try following this simple set of rules, repeating them regularly and see how close to achieving your financial goals they will take you.

  • Rule Number 1 – Make your own lunch and drink the boss’s coffee (and save $2,500 + per year).
  • Rule Number 2 – Don’t borrow to buy a car! (or anything that depreciates)
  • Rule Number 3 – The worst advice you can get can come from a well-intentioned friend or your neighbour.
  • Rule Number 4 – Remember that the media is not interested in your financial success (they just want your attention to sell advertising).
  • Rule Number 5 – Too many people spend money they earned…to buy things they don’t want…to impress people they don’t like.
  • Rule Number 6 – Your investments shouldn’t be your entertainment.
  • Rule Number 7 – Contribute to KiwiSaver and make a choice about where you want to invest (don’t just go with the default fund).
  • Rule Number 8 – Save 10% of your income. (i.e. pay yourself first)
  • Rule Number 9 – Pay off your personal debts as soon as you can and your credit card balance in full every month.
  • Rule Number 10 – Insure for what might happen, set aside savings for the inevitable.
  • Rule Number 11 – Remember that thrift is a virtue.
  • Rule Number 12 – Diversification. It is investors only free lunch.
  • Rule Number 13 – Remember that risk and reward are related – if it looks too good to be true it probably is.
  • Rule Number 14 – Stop, think, plan, write it down, act, review.
  • Rule Number 15 – Keep it simple and reduce your clutter to help you clarify your thinking.
  • Rule Number 16 – Remember the above rules.

Please drop Andrew an email on if you have some rule of your own to add and he will put you into a draw for a voucher at one of Christchurch’s new restaurants, The Permit Room in Victoria Square.


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