The Richest Man in Babylon by George S. Clason
Money is plentiful for those who understand the simple rules of its acquisition
Spoiler below, if you are keen about reading the book, read more here.
Get the basics cleared
- Part of all you earn is yours to keep, pay yourself first. It should not be less than one-tenth of your earning no matter how little you earn.
- Do take advice but from the ones who know about it. (eg: about brickmaking take advice from brickman)
- Investment will make babies and you will also want babies should make babies. So do not waste the returns reinvest them.
Seven Cures for Lean Purse
- Start your purse to fattening Pay yourself at least one-tenth of your earnings.
- Control your expenditure Budget your expenses that you may have to pay for necessities, enjoyment, and desires without spending more than nine-tenths of your earnings.
- Make your money multiply Reinvest the returns. Put your money to labor so that it may reproduce its kind and add it to income. A stream of wealth shall flow constantly into your purse.
- Guard the treasure against loss Better a little caution than a great regret. Invest in only places where the principal is safe, where it may be reclaimed and where you may not fail to collect the rental. Consult a wise man, let the wisdom guard your treasure.
- Make of your dwelling a profitable investment Own your own home
- Ensure a future income Prepare for a suitable income in the days to come. Provide in advance for the needs of your growing age and the protection of your family.
- Increase the ability to earn Cultivate your power and become wiser, to become more skillful.
For Man in debt
Where the determination is, way can be found
- Pay yourself one-tenth
- Try to live on seven-tenths
- Keep two-tenth for the clearing debt
