Yesterday I was reading a book The Richest Man from Babylon and I realize that how people have a misconception of saving money. So Today I am going to share with you some very much useful insights from the Book.
In this Book The Richest Man in Babylon – Mr. Arkad shared his secret that how he became The Richest Man in Babylon? As this same question, asked by his friends also.
Because his friends were eager to know that they are doing very much hard work but earn very much less than how he became Richest in Babylon?
So Arkad shared his whole journey. First of all, he shared the Thumb Rule i.e.
“A Part of all you Earn is Yours to Keep”
In other words, You must not spend all you Earned but rather invest it. And invest it WISELY.
By this, he said Whatever you earn but if you put that all money under the mattress or in the bank then it does not going to make a longer impact on your life.
That’s why if you invest in stock market, Mutual funds, Bond markets etc but as much as where you invest have importance the same way how you are investing that is also important. Does it worth for your Future Financial Goals?
This kind of question will help you to make investments at the correct place.
So Where will you Invest? Click to Know.
Along with worthful investments, Do you ever focus on what are you working for i.e. Making Money (Work for making money only) or Attaining Wealth (Creating circumstances where money works for you)?
Like most people you definitely didn’t give enough focus on it. But This is also very much important for your investments.
For Eg, If someone goes to work daily and earn regular wages then he is definitely Making Money.
Money making is usually done only for achieving Short-term Financial Success. You only focus only on buying a new thing with next pay cheque. But your Future is still a little concern. For your Future concern, you have to invest in long-term Investments.
As If that same person saves half of the amount from his wages and invest that amount on valuable investments then you can say he is Attaining Wealth.
So Attaining Wealth is usually done for Long-term investments. which will provide you benefits in your future, not in the current face. With this Investments you can save yourself from big disasters like losing the job in future etc.
Have you ever think whatever you are earning from your investments, is that your luck by chance? Or is it your hard work?
So for Eg, If one Badminton Player wins the match then it does not mean it was by chance – by her good luck. It was her hard work and hard practice she did. She earned that luck by her hard work.
Like this, Whatever you have earned from the stock market, it is not by chance. It is your hard work which you have done before any trade. that is you have earned your luck same as that Player.
So these insights impact your life a lot as Earn Hard but Invest Wisely.
Key Take Away:
-Save Money and do Worthful Investments
-Do the Hard work and Earn Your Luck
-Make your Money Works For you
-Make Wise Investments
*Professional investors/trader on niftymillionaire platform is Bindul shah. (Sebi Registered) Sebi Registration : INH000003663 (Bindul shah Sebi Registration : INH000003663)