The Richest Man in Babylon
Money is plentiful for those who understand the simple rules of its acquisition.
1-Start the purse to fattening 2-Control the expenditures
3-Make the gold multiply
4-Guard the treasures from loss
5-Make of the dwelling a profitable investment
6- Insure a future income
7-Increase the ability to earn
THE MAN WHO DESIRE GOLD
In this first chapter, we are introduced to a chariotmaker, Bansir, and his friend Kobbi, a lyre-player. These two fellows are talking together as modern-day friends might. Each man has spent his entire life working, working, working, but they have nothing to show for it. Kobbi finds Bansir sitting on a wall daydreaming, rather than finishing his work. He asks Bansir for a loan, since it appears that he must have plenty of money for his lack of industry.
Bansir tells his friend of his dream, where he had all the money he desired, enough to spend on everything his heart wanted. But he awoke, and found himself in his dire condition, living hand-to-mouth, with no savings, and no investments to provide him with an income. Sharing the dream, both men wonder aloud how it is that some people eventually move beyond the situation that they find themselves in. They’ve hoped that hard work alone would be enough to magically transform their lives to ones of leisure.
Lesson: To start yourself on the way to riches, it is important to learn from others who have experience in acquiring riches. There are some things money cannot buy, it is also a fact that money is the medium by which earthly success is measured. From this perspective, wealth is a scorecard by which people measure themselves. Money is plentiful for anyone who understand the laws which govern its acquisition. To secure significant amounts of money, it is probably better to spend less time lamenting the bad luck of the past and more time focusing on the laws of acquisition of capital.
TIME:- All men actually have this in abundance, but only a few put it to use making themselves wealthy. Instead of looking for constructive, useful ways to apply the resource of time, many people fill their lives with diverse activities which simply help them to pass the time.
STUDY:- There are two kinds of learning that are useful to anyone seeking to generate wealth – learning about specific subjects and learning how to find out what is not commonly known about any topic. Both kinds of learning are useful and valuable.
There Are Several Basic Principles Which Apply To The Acquisition Of Wealth:
Live on less than you earn. Most people labor to pay their bills. They feel successful when they have been able to get to the end of the month and pay all their accounts and obligations. A real change in perspective comes when a person makes a commitment to pay themselves first each month, before anyone else. It can be as much or as little as thought wise, just so long as the amount saved is one-tenth or more. The vast majority of people are accustomed to spending everything they have available. Therefore, if a person pays themselves first and then lives on the remainder of their income, their lifestyle will adjust accordingly. Before long, the person will not even be aware they are living on less, and their capital reserves will gradually increase. There is a tremendous feeling of pride, self-control and progress which comes from the establishment of a regular savings program. In everyone’s lifetime, a lot of money passes through their hands over the years. If a person will keep just a small proportion of that money, they will eventually have a sizeable pool of capital available.
SEVEN CURSES FOR A LEAN PURSE
These 7 secrets or seven ways of filling your bag are:
1. Start Thy Purse To Fattening – Start filling your bag From every 10 coins you earn, spend only nine of them. You will see how your bag starts filling quickly. You will see that you can arrange anyway with this income and you will be earning money quickly. Save at least 10% of your income
2. Control Thy Expenditure – Control your expenses What we call obligatory expenses grow in proportion of our income, if we don´t do something to avoid this. Don´t confuse your desire with your needs. Budget what you will need to buy based on 9/10s of your income.
3. Make Thy Gold Multiply- Make your gold fructify Make your gold work for you, then its sons and the sons of this sons. Investing your gold: Loans, opportunities. Gold multiplies fast. Make sure that your money is working for you.
4.Guard Thy Treasures From Loss – Protect your gold from any lost. Assure your capital.. Ask the wise people about what they know. Ensure that you are investing in safe ventures, and ask for advice from wise people about how to invest.
5.- Make your property a rental investment. Own your own home.
6. Insure A Future Income – Asure future incomes Foresee some incomes for your old age and your family. For this porpuse you can buy lands and houses. Provide in advance for your own getting older and looking after your family.
7. Increase Thy Ability To Earn – Increase your hability to adquire goods More knowledge we have, more money we earn. Always seek to learn more and become wiser, which will help you financially.
some important tips for dreams come true:-
1-you can never be rich if you spend everything you earn save at least 10% and invest it.
2-Always take advice of experts in that field.
3-Don’t cut the tree of your savings before fruit comes. Till it reaches a point where spending doesn’t make a difference