I asked AI to generate a list of 10 commandments for personal finance and here is what it generated.
The Ten Commandments for Personal Finance
Thou Shalt Budget Wisely: Create and maintain a budget to track your income, expenses, and savings.
Thou Shalt Live Within Thy Means: Spend less than you earn to avoid debt and build a secure financial future.
Thou Shalt Save Regularly: Set aside a portion of your income for savings, both for emergencies and long-term goals.
Thou Shalt Avoid Unnecessary Debt: Use credit responsibly and avoid high-interest debt whenever possible.
Thou Shalt Invest for the Future: Grow your wealth through informed investments, taking advantage of compounding interest over time.
Thou Shalt Plan for Retirement: Contribute regularly to retirement accounts and plan for your financial needs in your later years.
Thou Shalt Build an Emergency Fund: Maintain a reserve of 3-6 months’ worth of living expenses for unexpected situations.
Thou Shalt Insure Thyself and Thy Assets: Protect your health, life, and property with appropriate insurance coverage.
Thou Shalt Educate Thyself: Continuously improve your financial literacy and stay informed about financial matters.
Thou Shalt Set Financial Goals: Define clear, achievable financial objectives and create a plan to reach them.
The point of this exercise and post was to continue to test AI capabilities. The language learning model suggests that these should be the top 10 priorities in personal finance, at least according to all the aggregate data AI has collected so far.
I was a bit disappointed that it did not specify to grow your income but that could be implied by several of the “commandments” in the list.
Share The Wealth
What do you think? Is there anything on the list you think is missing? Let me know what you think in a comment below.