How to acquire money, How to keep money and How to use money

In The Richest Man in Babylon by George S. Clason he talks about 3 simple rules of money.

This Post will teach you those rules. Here we go.

You must first learn to live upon less than you can earn. Wait! I know what you are thinking, live below your means and cut up your credit cards, I do not believe that, but to live in abundance you must first learn to pay yourself first. You pay the bank, you pay for the clothes you wear, you pay for the things you eat and on and on, you pay to everyone but yourself. Maybe you put some money away for a while, but eventually that thing you always wanted catches your eye and you get it. You must pay yourself first before you pay for anything else at least 10% of your income, no less or as much more as you can afford.

Then you must seek advice from those who are competent through their own experiences to give it. Would you go to the mechanic to ask about real estate, of course not you would go to the realtor. People take advice every day from well meaning friends and relatives who mostly are fearful of losing money, but don’t really know what to do with it. Advice is freely given to the one seeking it, but it is your responsibility to decide what to do with that info. To seek money you must surround yourself with people who know its laws.

Lastly you must learn to make money work for you. Money in a wallet or bank account is quickly gone if there is no casflow to refill it. You can work for money, but your physical efforts have limits. You only have so many hours in every day and there is no leverage in that approach. In my opinion it is smarter to have money work for you through assets like a business, real estate, and investing in gold & silver or dividend producing stocks.

Remember that 10% is yours to be used for growing your wealth. Then find someone who knows its rules, but you make the decision. Finally, make money your slave and its children your slave. Do not be a slave to money.

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