Read on! You know this headline is a catchy way to grab your attention on an important subject.
Remember, I have shared with you about what it truly means to BE RICH. But if you are thinking about becoming financially rich; reflect on your life. Has your income increased in proportion to the number of years you’ve been working? Has your lifestyle done the same?
Culture baits us into having it all. Turn on the T.V. or surf the Internet and it is all “buy now, pay later”. It’s a problem we all face. How do we learn delayed gratification? How do we manage wanting to have it all now?
More and more people are not just living at the limit of their income, but are going into debt to finance a lifestyle. There are 2 ways to upgrade our lifestyle. One is slow; save and pay as you go. The other is fast; live at or beyond your means. The choice is ours but where do we turn to for guidance?
In Proverbs for we find great wisdom.
In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.
Don’t you just love that imagery! That’s a picture I can wrap my head around. But what happens if you don’t believe in God? How do we learn to take steps to become wise? Or what if you do…..and you haven’t had an opportunity to change….UNTIL NOW!
A great resource to help wrestle with this tension is called The Richest Man in Babylon. It uses a fictional story of Arkad, the richest man in Babylon. It teaches us seven timeless truths about personal finance.
Written in 1926 it is just as true today pointing out 7 secrets to becoming rich. Some versions are written in what is called “Old English.” It takes a little getting used to but it adds to the novelty of learning through a fictional tale. These seven secrets when understood and applied reap huge rewards over time. They put you on the road to becoming rich.
- Start Thy purse to fattening. Save at least 10% of your income.
- Control thy expenditures. Learn to live on less than 90% of your income.
- Make thy gold multiply. Invest your savings into projects that provide safe, steady increases of income. Take advantage of compound interest.
- Guard thy treasure from loss. Invest only in things you understand.
- Make of thy dwelling a profitable investment. Buy a modest home so that you do not waste money renting.
- Insure a future income. Have realistic insurance.
- Increase thy ability to earn. Keep working at ways of increasing your income.
Could you implement a simple seven step plan in your life? Maybe you have heard these principles before but haven’t put them into practice. Picture where you will be a year from now or five years from now if you apply these simple memorable applicable ideas to your finances.
Attitude: Humbly think if this could help you achieve your financial goals.
Action: Order this resource and let it transform your thinking and actions.
Question: What is the first step you will take in achieving your financial goals?