"Unlocking Wealth: Key Takeaways from 'The Richest Man in Babylon'"

basics

 1.Pay 1/10 of e basic verything you earned, and live with the rest of the part of your earn money.

2.take advice only from those who are experienced in that matter,take advantage of the compounding of return. 

3.there are 2 Ways desire to accumulate wealth -

Time:

Time is money, taking a good decision on Good time will be beneficial for you.all people got enough time but they don't put it on constructive or useful stuffs.they only use it on that type of activities which are only passes the time.only a few bunches of people put their time on good stuff,they use it to educate themselves and which topic?the topic which is usable in real life,in finance.

Study:

 There are 2 kinds of learning that are useful to general wealth.

1.Learning about a specific subject 

2.Find out what is not commonly known about any topic.

Several basic principles which apply to the aqua- situation of wealth.

- dont spend all of your money

- A lot of Money passes through our hand over the year ,We just need to keep a small portion of it.

- all we have to do is remove 10- 20% of your budget and save it.when a person does that he will adjust his lifestyle according to the rest money.what will happen is - day by day the saving money will grow.

7 secrets to filling your bag

1.save at least 10%of your income,you'll see your purse is gonna be fatted.

2.control expenditure 

Know your needs and wants,spend on needs not on wants.

3.make money work for you,only saving is not enough if you want to become rich.multiply your gold,invest your gold on loans, opportunities and gold multiply.

4.guard treasures from loss

Protect your gold from any loss,ask the wise people about what they know and also from them who are experienced in those fields.

5.make of the dwelling a profitable investment 

Make your property a rental investment 

Buy your own Home 

6.insure a future income 

For your old age & your family,buy land , properties 

Provide in advance for your own and family.

7.increase the ability of earning 

Increase the ability to learn 

Increase your ability to acquire good and valuable knowledge,the more knowledge you have the more money you earn.seek to learn more and become wiser.

How to attract good luck?

good luck comes to those who don't procrastinate & accept opportunities.hesitate, procrastinate &fail to take opportunity don't. attract good luck.

To attract good luck A person should take advantage of every opportunity it is better than those who sit back & wait for everything to be presented on a plate.good opportunity seen with our mind not with our eyes.life gives us life time opportunity,we need to just find it and work upon it.there is no body who has become rich by gambling.

If you are good at earning but not in how to protect them then it will become a trouble for you cause responsibility comes after that.you should be having knowledge about how to keep it up to you.if you have assets then make sure all that available on your name legal papers and proof. 

Next is security 

Security is something that must be planned in advance to fit the needs of the situation.you could take health,life,property insurance.there is no body who becomes rich by won a game.but,ya! if they know how to protect it,where to spend it,how to make money from them and have good financial knowledge then there is it.

wealth is like a tree,seeds are your savings & your returns are the fruits.

The clay table from Babylon 

• you can never be rich if you spend everything.

• take advice from experienced and experts.

• don't cut the tree

• reach the point where 

spending doesn't make difference.