The First Cure — Start Saving from Your Current Income
from The Richest Man in Babylon by George S. Clason
You will recognize how you earn and spend money. By identifying what type of spending truly brings you happiness, you will be more motivated to start and continue saving.
How to Apply This
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Identify all the sources of income which you already have.
See which streams of cash you already have and make an account of them. -
For every ten coins you earn, spend only nine.
Aim to save 10% of your income. Your wealth will start to accumulate when you use less money than what you earn. -
Identify and assess which belongings and assets bring you the greatest joy.
Pay attention to what type of spending habits make you happy. Many purchases will be gone and forgotten quickly. However, more substantial belongings will bring joy for a longer time.
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