I prefer reading books that have principles that I can apply in my
life for personal development. Coming across such books is far between
and having time to read them is another matter all together. When I get
time to read a good book, I tend too write the key principles that I
think are worth passing on to others or making reference to at a later
stage.
Some years back, I read the book ‘The Richest Man in Babylon’ by George Samuel Clason which dispenses financial advice through a collection of parables set in ancient Babylon. This financial self help book is a good read and provides practical advise that would guide one to good and time tested their financial management principles. The principles I gleaned from this book could be summarized as:
Some years back, I read the book ‘The Richest Man in Babylon’ by George Samuel Clason which dispenses financial advice through a collection of parables set in ancient Babylon. This financial self help book is a good read and provides practical advise that would guide one to good and time tested their financial management principles. The principles I gleaned from this book could be summarized as:
- Save at least 10% of your income
- Have a Budget to spent not more than 90% of your income
- Have diversified revenue streams
- Invest savings to earn interest
- Own a home
- Have a retirement plan & Insurance
- Ensure continuous professional or skills development
