Lesson learnt from The Richest Man in Babylon

George Samuel Clason began the first of the series of stories about thrift and financial success in 1926. The most famous being "The Richest Man in Babylon" and from it offers an understanding of the laws of money.

Rule 1:

A part of all you earned is yours to keep.
Keep aside 10% of your income as savings.

Rule 2:

Budget your expenses.
Do not over-spend. Live within your means, i.e. equal to or less than 90% of your income.

Rule 3:

Make your gold multiply.
Make your money work for you.

Rule 4:

Guard your treasures from loss.
Consult the wisdom of those who are competent through their experience in the profitable handling of money. Avoid unsafe investments and businesses which you are not familiar or which are not approved by those skilled. Always manage risks.

Rule 5:

Make your dwelling a profitable investment.
Own your own home. Reduce the cost of living.

Rule 6:

Insure a future income.
Make preparation for a suitable income in needs during old age. Provide protection for your family should you be no longer with them.

Rule 7:

Increase your ability to earn.
Learn to become more skillful and add value for yourself.

Rule 8:

Good luck waits to come to that man who accepts opportunity.
Procrastinate not, as man of action are favoured by Goddess of Good Luck.

Rule 9:

If you desire to help someone, do so in a way that will not bring someone's burdens upon yourself.

Rule 10

Work, some men hate it, make it their enemy. Better to treat it like a friend and make yourself like it.
Work, well done, does good to the man who does it. It makes him a better man.
Decide what you most desire to accomplish then work will aid you to achieve it.