The Richest Man in Babylon “The Basic Principles of Money Management”
1) Save at least 10% of all that you earn for an investment for the future.
2) Learn to live on 90% or less of your income. In my case I practice to live under 50% of my earning. My goal is to live under 30% of my earning which means I need to increase my earning ability.
3) Invest your accumulated capital into projects that will provide a safe, steady income, taking advantage of compounding of the interest received.
4) Invest only in the areas in which you have expertise or with people who are experienced.
5) Buy the house in which you live so you don’t need to waste money on the rent.
6) Have a realistic insurance program.
7) Always keep working various ways and means of increasing your income.
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