Yesterday I talked about “The Richest Man in Babylon,” a book by George S. Clayson. It’s a great fable about personal finance.
The first idea is this – “Ten percent of all you earn is yours to keep”. You might be thinking, “What do you mean, all the money I earn is mine”. But is it? You have to pay for rent or your mortgage, food, for your car, etc. That money is not yours to keep. The idea is you should save at least 10% of your income in a permanent savings/investment account.
10% – not too much to ask? Try it.
Oh, and read the book – the audio version is great.
Good morning, Larry!
Happy September, Larry! I’ve heard the saying “Pay yourself first” and it makes a lot of sense. (cents – haha)
Good Morning! I look forward to your posts every morning when I get to work.
Every employee in my company has access to our Audio book list. That is always the first book recommended!
Good morning Larry!
My uncle had a saying, “It is not about what you make, it is about what you spend”, as a teenager I understood the idea.