7- Money Rules That Separate Rich From Poor 💫|Practical Money Saving Tips 💫|Motivational video 💫

7- Money Rules That Separate Rich From Poor 💫|Practical Money Saving Tips 💫|Motivational video 💫 What if the difference between being rich and staying broke came down to just 7 simple money rules? In the book- the Richest Man in Babylon (one of the best personal finance books) popularly called as as "the Bible of financial freedom," George Clason shares a timeless set of principles in The Richest Man I Babylon. His goal, to provide insight to those who are ambitious for financial independent and success," is achieved through simple storytelling. The primary lesson comes from Arkad, the proclaimed richest man in Babylon. At the bequestof the King, Arkad shares his "seven cures to a lean purse" so that both individuals and society as a whole can reap the benefits of fiscal growth. Start thy purse to fattening. This point is actually the crux of the book: the classic principle of paying yourself first. Clason recommends saving at least 1 0% of all first. Clason recommends saving at least 10% of all arned. Even in his example of those who are paying off debt, he still advocates setting aside this one-tenth. Ifyou want to save money for your future, you must begin by consistently setting aside part of your earnings today. Control thy expenditures. Essentially, this is learning to live within your means and avoiding lifestyle inflation. Clason deems lifestyle inflation to be an 'unusual truth of humanity and states, "what each of us calls our necessary expenses' will always grow to equal our incomes unless we protest to the contrary." Make thy gold multiply. Your wealth should extend beyond your income. Put your money to work by making smart investments and taking advantage of time and compounding interest. Guard thy treasures from loss. Here, the book encourages the protection of principle from loss. It is easy to criticize this idea, as most of us feel that investment vehicles that have the potential to lose value, such as stocks, are essentials partof a balanced portfolio. If you take a bigger picture view, however, the lesson becomes more palatable. The penalty of risk is the potential of loss. Know your risk aversion and understand the risks in your portfolio. Make of thy dwelling a profitable investment. This is yet another debatable principle. Clason's argument is that it makes more sense to make payments that will eventually become equity rather than giving money to a landlord. Rather than getting sucked into renting owning debate, I will defer to a Scrooge Strategy tip and say"run the damn numbers" and see which method makes sense for you at this particular point in your life. Insure a future income. This boils down to retirement planning and insurance. Due to the fact that i didnt exist in ancient Babylon, Clason really doesn't dive into this point much at all. Increase thy ability to earn. Position yourself to make more money by improving your skills and making yourself more emplovable. Train yourself, go to #middleclasshousewife classes, take jobs on the side; whatever you chose, set specific and measurable performance goals and start working to earn more money now. The books other main lesson is the five laws of gold" that Arkad teaches his son. The first three laws list ways to get rich and are fairly repetitious with the above principles. Namely, the laws mandate paying yourself first, investing your money well, and making informed investment decisions. In this video, you'll discover the timeless financial lessons from The Richest Man in Babylon, one of the most powerful personal finance books ever written. These wealth-building principles have helped millions of people save money, grow their income, and achieve financial freedom. If you're struggling with money, living paycheck to paycheck, or want to build long-term wealth, these 7 rules can completely change the way you think about monev #middleclasshousewife s In this video you'll learn: VHow rich people manage money differently VThe first step to building wealth VWhymost people stay poor for life VHow to make your money work for you V The ancient secrets of financial success Watch tillthe end because each rule builds upon the previous one, and missing even one can keep you stuck financially. BR Book: The Richest Man in Babylon by George S. Clason #MoneyRules #RichestManin Babylon #WealthBuilding #FinancialFreedom #PersonalFinance #MoneyMindset #SuccessHabits #Selfimprovement #WealthCreation #FinancialEducation 7 Money Rules That Separate the Rich from the Poor| #middleclasshousewife #sanaansarivlogs #tarabkhanvlog #learnkurooji #wordsofwisdom