DISCLAIMER

*The following notes are no substitute for reading the actual book. If an idea truly grabs your attention, please read the book. *

Summary: In order to give back to this community I will be posting notes on some of the books I have read.

First up - The Richest Man in Babylon by George S. Clason

It cost nothing to ask advice from a good friend.

A part of all I earn is mine to keep. (Pay myself first!)

Would you go to the bread maker and inquire about the stars? NO! You would go to the astrologist!

Re-invest my earnings!!!

Live upon less than what I earn!

Seek advice from those who are competent through their own experiences to give it.

Learn to make gold work for me!

When I set a task for myself, I complete it!

Therefore I am careful not to start difficult and impractical tasks. Because I love leisure!!!

Invest with the greatest caution so that it is not lost.

Counsel with wise men. Seek advice from men whose daily work is handling money.

A small return and a safe one are more desirable than risk.

7 steps to fatten my purse!

1: Start thy purse to fattening. (Start Saving immediately)

2: Control thy expenditures (What we may call our "Necessary" Expenses will always grow to equal our income. Unless we protest) do not confuse "Necessary” expenses with my desires.

  1. Make thy gold multiply. Invest money into things that appreciate!

  2. Guard thy treasures from lost! Slow and steady wins the race. Rarely loan money. Do my research before I invest in any field. Consult with wise men.

5 - Make of thy dwelling a profitable investment. Every man should own the place where he resides. It will give him confidence and more effort.

6 - Ensure a future income.

Invest in houses or lands.

Invest to loaners.

7 - Increase thy ability to earn by: Cultivating my own powers, to study and become wiser, to become more skillful, and respect myself = self-confidence.

Desire must be strong, simple, and definite!

Increase my skill and I shall increase my ability to earn.

Is there a way to attract good luck?

FUCK CASINOS!

Take opportunities immediately! My first judgement is my best!!!!!!

Good luck flees from procrastination.

Procrastination Is my enemy!

A habit of needless delaying when action is required. Action prompt and decisive!

No man lets a thief willingly steal from him, nor does he allow his enemy to drive away his customers and rob him of his profits!

To attract good luck, one must take advantage of opportunities.

The 5 laws of gold

  1. Save 1/10 of all my earnings.
  2. Find profitable employment for my money.
  3. Seek counsel from wise men on how to invest. (Invest my savings under the guidance of wise men,)
  4. Gold slippeth away from the man who invest in things he has no knowledge of (Businesses or purposes. wise is he who invest his treasure under the advice of men skilled in the ways of gold). 5, gold flees the man who is too greedy and falls for traps. (Fanciful propositions, extreme rates of return. advice with the wise men first.)

Wise men talk over each plan presented with great care before action, they take no chance of losing their principle or tying it up in unprofitable investments.

2:27:35

If I am going to help a friend, do so in such a way that I do not burden myself with their problems.

Emotional people are not good for loans.

Before I loan money - for what purpose shall you use it? What knowledge do you have in that business? Do you know where you can buy at lowest cost? And sell for profit?

I need security before I loan!!! I need a way to secure this loan. Come with a plan, and I might go along with it.

I will not lend unless I am confident I will be repaid, and I will not lend if I do not believe I will gain from it.

2:59:54

Better a little caution than a great regret.

The soul of a free man looks at life as a series of problems, to be solved. And solves them. The soul of a slave whines.

Living expense shall never exceed 70%

4:30:00

Hard-work is the key to success.