Saturday, November 18, 2017

Rules of Acquisition of Money from The Richest Man in Babylon

I just want to share the principles mentioned in the book The Richest Man in Babylon by George S. Clason.

Here they are:

1. Start thy purse to fattening
    This is suggesting that we have to pay first ourselves with a minimum of ten percent of the amount that we are earning. Before we spend our money on our expenses, we have to keep at least ten percent of our income.

2. Control thy expenditures
    This is teaching us to live just right. If our income is limited, we should budget our money very carefully and spend it wisely.

3. Make thy gold multiply
    This is telling us to invest our money so that it can earn more. But be careful and wise as well when investing the money that you have worked hard for.

4. Guard thy treasures from loss
     This is reminding us that once we have accumulated wealth, we must also learn how to keep it safe and not to went away from us.

5. Make of thy dwelling a profitable investment
    This is suggesting that we invest in real estate business.

6. Insure a future income
     It is amazing that as early as Babylonian time, wealth insurance idea already existed.

7. Increase thy ability to earn
    This is teaching us to focus and improve our talent and skill in a chosen industry so that our earnings will increase as we become a master of our craft.

These are just a peek to the book. I highly recommend for readers to buy and read this book as it is inspiring and educational.

Keep learning. :)