‘When youth comes to age for advice, he receives the wisdom of years. But too often does youth think that age knows only the wisdom of days that are gone, and therefore profits not. But remember this, the sun that shines today is the sun that shone when thy father was born and will still be shinning when thy last grandchild shall pass into the darkness’. This is a short excerpt from the most inspiring book on wealth ever written, “The RICHEST MAN in BABYLON”. Every single sentence in this book is one to run with. The excerpt is just one among too many others.
- A Part of All You Earn is Yours to Keep: A great desire for wealth is the first journey to the cure for a lean purse.We pay to everyone but ourselves, (supermarkets, markets, garage, churches, food, tailor, clothing etc.) We labour for others but never for ourselves. Instead, keep a tenth of all you earn. Wealth grows from a tiny seed. The first coin you save is the seed from which your tree of wealth shall grow and the sooner you plant that seed, the sooner it shall grow. Faithfully, if you nourish and water that tree with consistent savings, you will bask in contentment beneath its shade sooner. Opportunity is a haughty goddess who wastes no time with those who are unprepared.
- Control Your Expenditures: What we refer to as ‘necessary expenses’ will always grow to equal incomes unless we protest to the contrary. Therefore, it’s important to budget your expenses so that you may have coins to pay for your necessities, to pay for your enjoyments and to gratify your worthwhile desires without spending more than nine-tenths of your earnings.
- Make your Savings Multiply: Saving is gratifying but more rewarding is the earnings the savings will make, building yourself a fortune. Wealth will not be in the savings put in the wallet but in the income you build, the golden stream that continually flows into your purse and keeps it bulging. Invest your savings so that it reproduces more wealth that will flow constantly into your wallet.
- Guard Your Treasures From Loss: ‘Misfortunes love a shining mark’. The penalty for risk is a probable loss. Before parting with your savings, have as much knowledge on where you are investing. Do not be misled by the ‘get rich quick’ schemes. Before you loan it to anyone, be assured of his ability and reputation to repay for in doing so, you will not unwittingly make him a present of your hard-earned savings. More so, consulting the wisdom of those experienced in handling money for profit is always recommended. Guard your savings from loss by investing only where your principal is safe. Consult those experienced in the profitable handling of savings. Let their wisdom protect your savings from unsafe investments.
- Make of Your Dwelling A Profitable Investment: You pay to landlords liberal rentals for rooms where space is limited and children have no place to play. It is not beyond the ability of any well intentioned man to own his home. The money lenders gladly consider the desires of men who seek homes and land for their families. If you can show a reasonable portion of the necessary sum which you yourself has provided for the purpose, ready too are the lending institutions for this worthy course. When the house is built, you then pay the money lender with the same regularity as you did pay the landlord. Each payment will reduce your debt to the money lender and in a few years will complete his loan. Your heart will be glad because you will own in your own right a valuable property whose only demand will be annual land rates. Therefore, the fifth cure for a lean purse is to own your own home.
- Insure a future income: It behooves a man to make preparation for a suitable income in the days to come, when he is no longer young, and to make preparations for his family should he be no longer with them to comfort and support them. There are diverse ways by which you may provide with safety for your future. You may buy houses or lands for this purpose. If wisely chosen as to their usefulness and value in the future, they are permanent in their value and their earnings or their sale will provide well for your purpose. Therefore, provide in advance for the needs of your growing age and the protection of your family.
- Increase Your Ability to Earn: The more of wisdom you have, the more you may earn. Seek to learn more of your craft to be richly rewarded. If you are an artisan, you may seek to learn the methods and the tools of those most skillful in the same line. If you are a merchant, continually seek better goods that can be purchased at lower prices. Therefore, cultivate your own powers to study and become wiser in order to be more skillful, to climb on that .
Next, I shall write about meeting the GODDESS OF GOOD LUCK. Let’s all tune in find out about her existence.