Sunday, January 30, 2011

The Richest Man in Babylon

The Richest Man in Babylon is said to have changed many people's financial status. It was written in 1926, and it is very interesting. I plan to read it until I fall asleep this evening. It is the first step in my personal development activity. I also was listening to Jim Rohn talk about financial freedom. He said to spend no more than 70% of your pay, save 10%, invest 10%, and give 10% to charity. If you can't start with 70,10,10,10, do 97,1,1,1 until you build to 70,10,10,10.

At least I feel I have a plan. The most important statement so far is "a part of all I earn is mine to keep." I've been keeping better tabs on my money, and I've had more left over at the end of the month than before when I just spent what I thought I could afford. Now I plan to earmark 70% to my bills and 30% to invest.

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