I was reading an article by Dennis Ng on "The Richest Man in Babylon" and some of his thoughts and while I thought some of the strategies were pretty obvious to everyone, it is still a good refresher even for myself from time to time.The richest man in Babylon
I was reading an article by Dennis Ng on "The Richest Man in Babylon" and some of his thoughts and while I thought some of the strategies were pretty obvious to everyone, it is still a good refresher even for myself from time to time.
1st Strategy —Save at least 10% of your income
In the book The Richest Man in Babylon, Arkad shared that when an individual's income increases, his or her expenses would also typically increase. As a result, this individual would fail to accumulate any savings or wealth. In light of this, Arkad says that the first step to riches is to cultivate the good habit of saving. And by this, I suggest that the simplest way is to save at least 10% of your income.
Such is the importance of cultivating this habit that when I started working in 1993, I have been following Arkad's recommendation ......
I was reading an article by Dennis Ng on "The Richest Man in Babylon" and some of his thoughts and while I thought some of the strategies were pretty obvious to everyone, it is still a good refresher even for myself from time to time.
