New technologies such as artificial intelligence, cryptocurrency and fintech tools can make it seem like the way to approach your finances should change. However, at its core, there are some financial principles that stand the test of time. Applying these four timeless money tips will help you build good habits and prepare for a long and successful financial future.
Find Out: 3 Signs You’ve ‘Made It’ Financially, According to Financial Influencer Genesis Hinckley
Read Next: How Much Money Is Needed To Be Considered Middle Class in Your State?
Pay Yourself First
You have control of where your money goes, and paying yourself is the best way to prioritize your financial health and future. When you receive a paycheck, your first thoughts might be to go out to eat, upgrade your phone or buy groceries. However, the habit of paying yourself first will pay dividends down the road.
In practice, this means automating transfers from your bank account so a portion of your income goes directly to savings and retirement funds before you spend any of the money. Once you’ve taken money out for yourself and your long-term financial health, you can decide how to spend the rest.
Be Aware: The $50 Mistake Warren Buffett Says Everyone Should Avoid
Avoid High-Interest Debt
Today, there are many ways to make a purchase and pay for it later. Credit cards are the most common way to conveniently buy something that you don’t have the money for, but it’s easy to fall into a debt trap. As of September 2025, the average credit card interest rate is 24.36%. This means if you don’t immediately pay off your card, you’ll end up paying a lot more for your purchase.
Another new way to make a purchase without paying at the checkout counter is Buy Now, Pay Later (BNPL). BNPL is a system that allows you to pay for your purchase in installments, making the purchase more affordable. For example, a $100 purchase could be split into four $25 payments over four months. As long as the buyer pays on time, there isn’t any interest added. However, if you miss a payment, the interest skyrockets to as high as 36.99%.
Whether you’re living in modern times with these financial tools or were living 100 years ago, racking up high-interest debt is detrimental to your long-term financial health.
Live Below Your Means
A mistake people have made since the beginning of time is living beyond their means. If you spend more than you make, your bank account is in for a tough time. This doesn’t mean you must cut out all unnecessary spending, but you should be smart about where your money is going.
One trap that people fall into is lifestyle inflation. Lifestyle inflation happens when you get a raise or another increase in pay, and you adjust your spending to match it. For example, getting a job with a higher salary and then buying an expensive new car or upgrading to a bigger house. When you make more, but spend more as well, you don’t really get ahead.
Continue To Learn
No matter what era you’re living in, things will always change. Keeping up with the latest updates and innovations will give you an advantage. Learning how to use AI to help you analyze investment opportunities or downloading budgeting apps to track your spending are some ways to take control of your finances in 2025. As new strategies and tech come about, you’ll be able to jump in and take advantage of them by continuing your financial education.
Similarly, when you’re well-versed in personal financial strategies and tools, you’ll be less likely to fall for scams. For example, knowing how pyramid schemes work can help you spot red flags when an offer that feels too good to be true comes your way.
More From GOBankingRates
- Here's What It Costs To Charge a Tesla Monthly vs. Using Gas for a Nissan Altima
- Why You Should Start Investing Now (Even If You Only Have $10)
- I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money
- Warren Buffett: 10 Things Poor People Waste Money On
This article originally appeared on GOBankingRates.com: 4 Timeless Money Tips That Will Always Hold Up
