Act like a free man and succeed like one!‘The Richest Man In Babylon’, by George S. Clason, pg. 175
The Plan Is Simple, The Execution Is Not
Winning the financial game of life can be done following 7 simple rules, according to George S. Calson’s book, ‘The Richest Man In Babylon’:
1. Start thy purse to fattening
In other words, save your money. More precisely, save 10% of your income.
2. Control they expenditures
Watch what you spend so that your spending does not get you into debt.
3. Make thy gold multiply
With the money you set aside, are you investing it such that it is growing for you? Are you realizing the mystical growth of compounding interest?
What are some sure-fire investment strategies you employ? Stocks, digital currency, multi-family homes, tulip bulbs?
4. Guard they treasures from loss
Build a big ‘ole financial wall that none of life’s common zingers can break through to hurt you, like health issues, car accidents, falling trees, you name it!
5. Make of they dwelling a profitable investment
Buy your house. Pay it off quickly. Enjoy the sense of freedom that brings you! Bonus points if you own land as well that grows figs, grapes etc and produces edible fruit for you and your family.
6. Insure a future income
Multiple streams of income are key. Relying on a single income is very risky. But how to build these income streams from scratch?
What are some of your streams and can I copy you?
7. Increase thy ability to earn
Commit to a life of continuous learning and never cease striving to add value to everything.
Dealing With Life-Crippling Debt
This book also lays-out an ancient plan for overcoming your personal debts:
Save 10% of your income and jingle it in your pocket. In other words, work hard to save 10% and take pleasure in your savings.
Use 70% of your earning for you and your wife and family to live off of.
Use the remaining 20% to pay off your debts over time
Again, sounds simple, but it’s not simple (or comfortable) to do. But the result is freedom from slavery, so is that enough to motivate you or drive your determination?
I’m convinced work and the financial system is as old as the earth itself. It’s man’s purpose to play the game, to learn the rules, and to get as high up on the leader board as possible.
See you suckas at the top!
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