Book: The Richest Man in Babylon
7 remedies for a lean purse
1) save 10% or more
2) budget thyexpenditures
-> expenses will grow to equal your earnings
neccessaryexpenses <-> desires
habits of living
desires must go unsatisfied
budget with 90% of earnings
- necessities
- desires
3) make thy gold multiply: profitable investment
4) guard thy treasures from loss by investing only where:
invest -> get familiar with the field
- thy principle is safe
- where it may be reclaimed if desirable
- where you will not fail to collect a fair rental
consult thoseexperiencedin handling money for profit
- consult with wise men
- secure the advice of those experienced in the profitable handling of gold
- let theirwisdomprotect thy treasure from unsafe investments
5) own thy own home
make of thy dwelling a profitable investment
>10% will increase treasures
6) ensure a future income
7) increase your ability to earn
desires must be simple and definite
- too many
- tooconfusing
- beyond a mans training toaccomplish
learn more of your craft
- cultivate your own powers
- study and become wiser
- become more skillful
- sow at as torespectthyself
- => confidence in thyself to achieve thy carefully considered desires
The 5 laws of gold
- gold cometh gladly and in increasing quantity to any man who will put by not less than one tenth of his earnings to create an estate for hist future and that of his family
- gold labours diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field
- gold clings to the protection of the cautious owner who invests it under the advise of men wise in its handling
- gold slips away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep
- 5. gold flees the man who would force it to impossible earnings or who follows the alluring advice of trickster and schemers or who trusts it to its own inexperience and romantic desires in investment