Author: George Samuel Clason
Pages: 155
Introduction
A short read that helps you begin your journey toward Financial Freedom.
George Samuel Clason provides effective financial lessons through fun Babylonian parables.
When you flip through the first few pages, you are greeted with Financial Commandments that read:
Lo, Money is plentiful for those who understand the simple rules of it’s acquisition
1. Start thy purse to fattening
2. Control thy expenditures
3. Make thy gold multiply
4. Guard thy treasures from loss
5. Make of thy dwelling a profitable investment
6. Insure a future income
7. Increase thy ability to earn
Lets elaborate each of these lessons/commandments.
1. Start thy purse to fattening
The author suggests saving 1/10th of all that you earn.
2. Control thy expenditures
All of your daily needs and worldly desires must be satisfied with the other 9/10th.
3. Make thy gold multiply
Let the money that is saved be invested and let it earn for you. Compound Interest works wonders in the long-term, so be patient!
4. Guard thy treasures from loss
Be cautious of the risks that come when investing in any financial instruments!
Remember Warren Buffet's Rules of Investing:
1. The 1st rule of investing is to never lose money.
2. Don't forget rule #1
5. Make of thy dwelling a profitable investment
As counter-intuitive as it may seem, the author suggests owning a home instead of renting.
6. Insure a future income
Think of securing income for the future when you may not have regular or definitive periods of income.
7. Increase thy ability to earn
Improve your ability to earn. Explore different avenues of interest and passion which are also rewarding. Remember, knowledge brings wealth! Always be at the forefront of innovation and learning or perish into dust!
Conclusion
Now that we know the Commandments, we must all strive to be like Arkad!