Ahead of any person lies their future with ambitions and dreams. To fulfil those ambitions and realize those dreams, people need to learn how to be successful with money.
The basic principles of effective money management are:
1. Save at least 10-percent of all that you earn for an investment fund for the future.
2. Learn to live on 90-percent or less of your income.
3. Invest your accumulated capital into projects that will provide a safe, steady income, taking full advantage of compounding of the interest received.
4. Invest only in areas in which you have expertise or with people who are experienced.
5. Buy the house in which you live so you don’t waste any money on rent.
6. Have a realistic insurance program
7. Always keep working at various ways and means of increasing your income.
The Man Who Desired Gold
While almost everyone concedes that money isn’t everything and that 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 represents success only through its ability to provide freedom to do things. It is not an end in and of itself - only a means to an end. The possession of sufficient amounts of capital makes possible the enjoyment of the very best services and goods the world has to offer.
Many people have convinced themselves money has a way of avoiding them like the plague. This belief is usually based on their experience in which they are always cash short and scrambling to pay bills. In actuality, however, 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.
Interestingly, throughout the ages, there have always been some people who have had more money than others. Was this just a stroke of luck on their part, or are there laws that make this possible?
Anyone who accepts that luck plays a major role has as good a chance as anyone else to strike the jackpot during their lifetime. However, depending on luck rather than effort also means the same person is willing to accept that nothing can be done to change whatever destiny luck allocates.
A far better approach is to believe that money can be attracted and governed by set laws and principles, and to focus on learning and applying those laws to reap the rewards.
The Richest Man in Babylon
The key principle at the very foundation of any program designed
to generate wealth is at least one-tenth of all that a person earns
is theirs to keep.
Anyone with a desire to accumulate wealth and put it to good
use requires two things:
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.
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
There are several basic principles which apply to the acquisition
1. Live on less than you earn.
Most people labour 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. Yet, at best, this is just
treading water from the perspective of building wealth.
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.
2. Seek advice from those who are competent to give it through
their own experiences.
Once capital starts to build up, a vast array of investment
opportunities will present themselves. Some of these will be
genuine, some sinister, but the bulk will be doomed to failure
with only a marginal chance of succeeding.
The key factor in looking at any proposal is to examine the
background of the people making the proposal. Have they
actual experience in that field of business, or are they simply
giving you an opportunity to use your capital in pursuit of their
Seven Cures for a Lean Purse
1. Start thy purse to fattening
2. Control thy expenditure
3. Make thy gold multiply
4. Guard thy treasures from loss
5. Make of thy dwelling a profitable investment
6. Insure a future income
7. Increase thy ability to earn
The Seven Ways of Filling Your Bag
1. 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 arreange anyway with this income and you will be earning money quickly.
2. 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.
3. Make your gold fructify
Make your gold work for you, then its sons and the sons of this sons.
Investing your gold: Loans, oportunities. Gold multiplies fast.
4. Protect your gold from any lost
If you have got gold, you will be tempted to invest in any atracctive proyect.
Asure your capital. Its not true romantics make a fast fortune. Ask the wise people about what they know.
5. Make your property a rental investment
If you can eat grapes from your vineyard and have a nice house its inspires you to finish your duties.
6. Asure future incomes
Foresee some incomes for your old age and your family. For this porpuse you can buy lands and houses.
7. Increase your hability to adquire goods
More knowledge we have, more money we earn.
The Five Laws of Gold
1.Gold comes easy and in greater cuantites to the man who safes the tenth part of his income for his future and family.
2.Gold works with speed and diligence for the wise owner that finds for it a productive use.
3.Gold mantains itself under the protection of prudent persons who invests with the counsils of wise people.
4.Gold scapes from people who invest without a pourpose in places that are not familiar.
5.Gold runs away from people who force gold to imposible profits and follows the seductive counsils of impostors.
Meet the Goddess of Good Luck
Good luck comes to the person who accepts opportunity.
Everyone hopes to attract good life in their business careers. In fact, the desire to be lucky is absolutely universal. Some people believe luck is entirely in the lap of the Gods, and that nothing
one does can possibly influence the amount of luck one enjoys. In reality, however, many people have impressive opportunities presented to them which they fail to take full advantage of
because of procrastination.
To attract good luck, a person must take advantage of every opportunity that presents itself. The person of action, who is able to jump at whatever business propositions are presented, is in a stronger position to attract good luck than the type of person who sits back and waits for everything to be presented on a plate.