3 Money Skills That Will Make you Rich

Hello friends, and welcome back to the Bulletproof Life blog. I am delighted to have you here. As you know, my aim on this blog is to help you bulletproof your money, business, career and lifestyle and for you to achieve that, there are some money skills you need to know, have and practice.

Contrary to what we tend to believe, a job that pays more will not always solve your financial problems. Sometimes all you need is good money management skills to help you manage the way you spend, improve your ability to save, invest and achieve financial goals that otherwise seem impossible.
So here are 3 money skills to help you move closer to financial freedom with the income you have now:


This is the first money skill you need to have. Budgeting is an incredibly important money skill. It reveals what you have, how much you spend and what you are spending your money on. It also helps you stay on top of your spending so that you can spend less than you earn.

What is Budgeting? Budgeting is simply planning your money – deciding and controlling your spending in an intentional, realistic and logical way. In the short term, budgeting makes it possible for you to save. It is a skill I always encourage my friends and the Bulletproof community to learn and practice.

Struggling with budgeting?..

If you don’t know how much you earn or how much you need to live on, you will struggle to plan your finances or save. You will never be sure what you can or can’t do with your money, and you won’t know if you are living above your means until you are in debt or struggling to make ends meet.

I am such a big advocate of budgeting that I have created a simple budgeting and savings book for you, and you can order one here. This book was created because I want you to have an easy budgeting tool. I have created this book with all the questions people have asked me about budgeting in mind.

I want you to know now that budgeting is an essential money skill to have; and it will help you achieve your financial goals and dreams.
If you have been struggling to budget so far, or budgeting is not working for you, then you should look out for my next blog post. In my next blog post, I will share 10 reasons why your budget is not working and what you can do to make budgeting easy and effective for you.


The second financial skill that you need to have to bulletproof your money is saving. To save, you need to know how much you earn and how much you will have left after your bills have been paid. You need a budgeting tool to help you stay on top of your expenses. Saving is what will make you an investor. It sets you free financially and makes it possible for you to achieve your financial goals and dreams.

However, you need to answer the questions, “How much can I save monthly?” and “How much am I saving monthly?”
If you deduct your expenses from your income and there is nothing left, then it’s time for a reality check! It’s time to ask yourself, “What did I spend my money on? Were they all essential? What is my essential spending and non-essential spending? What are my needs and wants? Am I spending in the right places?”

This reality check is necessary for you to be able to master the skill of saving. You can’t save if you are not honest with yourself. If you keep up with the Joneses, savings can’t happen. If you buy designer because your friends are buying it, saving can’t happen. Saving is an essential skill that will set you free and empower you.

The savings rule of thumb…

The rule of thumb when it comes to saving is 20%. If you can put 20% of your income away, you’re doing great and even if you can’t, try and get as close to 20% as possible. If you’re saving just 5%, well you need a reality check!

Saving money will save you from embarrassing situations; it will empower you to take advantage of opportunities. Saving will position you to build wealth and take you to financial freedom.


Once you have mastered your budgeting skill and you are consistently tracking and managing your income and expenses, and you are also regularly meeting your 20% savings target, then the next thing you need to master is how to invest like a pro.

There are so many investment options to help you grow wealth. All you need to do is a little research to find out and understand the pros and cons of the various options you have. My Youtube channel is a great place to start.

Investing options…

Investing options available to you include stocks and shares, government and corporate bonds, mutual funds, exchange-traded funds (ETFs), exchange-traded commodities (ETCs), Real estate investment trusts (REITs) and so on.

You can also invest directly in properties and in your own business/self. The skill you need to master is knowing which ones you want to invest your money in. You also need to know the risks that come with each of these options and then understand your risk appetite, that is how much risk you are willing to take.

My investing resources…

I have created many videos on my channel which you can watch to learn about these investing options. I have also created an Investing Masterclass webinar in which I teach all the fundamentals of investing, if you are interested in this webinar, please drop a comment or send me an email directly: ronke@ronkeodewumi.com

The three skills I have outlined in this post will take you a step closer to bulletproofing your life, career, your money and your business. I hope you will start cultivating and practising them if you have not been using them before. With them, you are on your way to a life of financial freedom and wealth.

I hope you have enjoyed this post. If you found these tips valuable, don’t forget to leave me a comment.
Till next time

Keep living that Bulletproof Life,

Published by ronkeodewumi

I am a Chartered Accountant (ACMA, CGMA) and seasoned Management Consultant with about 16 years of experience driving the delivery of strategic solutions to complex problems of global firms. Through my blog, youtube channel, social media, tailored courses and downloadable material, I share information, resources and tips to help you manage your money better, grow your business, progress in your career, thrive in difficult times and create a life that is safe from failure, while being the best version of yourself. You will also find here links to my youtube videos where I share more nuggets to help you achieve and live your dream life. I am based in London, United Kingdom and always happy to connect with you via email (ronkeodewumi@gmail.com), social media or my contact page here.

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