Old money never goes out of fashion
What to get rich in the new year and beyond? You should take another look at The Richest Man in Babylon by Richard Clason. It’s a timeless book that reveals the secrets to making money and keeping it.
Here are its 12 greatest commandments of wealth:
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Pay yourself first
Save at least 10% of your income and invest it wisely for the future.
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Control your expenses
Live within your means and avoid unnecessary debt. Living within our means is about drawing the line between our needs and desires
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Make your money work for you
Invest your savings in profitable ventures to generate passive income.
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Seek advice from experts
Consult with knowledgeable individuals before making financial decisions.
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Protect your wealth
Safeguard your assets through insurance and prudent risk management.
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Diversify your investments
Spread your investments across different asset classes to minimize risk.
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Take calculated risks
Be willing to take calculated risks to achieve financial growth.
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Learn from your mistakes
Embrace failures as learning opportunities and adjust your strategies accordingly.
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Be persistent
Stay committed to your financial goals and persevere through challenges.
- Avoid get-rich-quick schemes
Focus on long-term wealth-building strategies rather than quick fixes or pyramid schemes.
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Give back to society
Share your wealth and contribute to the well-being of others.
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Continuously educate yourself
Invest in your knowledge and skills to enhance your earning potential.
Thought for the road
“Who is rich? He that is content. Who is that? Nobody.” ~ Benjamin Franklin
