Acquiring wealth through making money is the desire of every man and woman. Apart from the desire to satisfy your daily need it gives power and honor to those that have mastered the art of acquiring it. 7 ancient ways about making money and acquiring wealth.
Since the days of Abraham. money has separated men from other men. While the successful ones lead a happy and fulfilling life. the poor man is faced with a life of hardship and misery.
History has taught us that there exist some secrets of how some men were able to liberate themselves from the darkness of poverty. and penury into the limelight of success and recognition.
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Today. I am going to share seven top secrets that is behind the wealth of some successful men of old. These secrets were part of the wisdom shared by King Solomon – the wisest. and the wealthiest king that ever lived. And these were the reasons why many noble men from far kingdoms come to listen to this ancient wisdom. These secrets were shared in the ancient city of Babylon. SHOP ON JUMIA NIGERIA
Follow me as I share part of these ancient wisdom that will transform the way you see money. and how you deal with it.
- Start thy purse to fattening: This ancient wisdom teaches about the value of savings. Saving at least one tenth of your income is a principle that has worked for centuries. While some people do not realize this power is due to lack of financial discipline. They find it difficult to set aside a part of their income with the thought that what they earn is not enough to take care of their needs. The principle teaches that for every ten thousand that comes into our hand. we should save one thousand out of it. The logic is that the one thousand is a negligible amount that will not affect significantly. the way we live if we can spend our money on only what are necessary.
- Control thy expenditure: Here, we are taught that we should only spend money on only the things that are necessary. This principle helps to do away with impulse buying or buying this that are not planned for. A young lady walking down the street corner might see a nice bag and shoe that she craves for. and decides to buy it without thinking twice about it. But if this young lady has saved part of her income and what she is left with can only take care of her necessities. she would never indulge in impulse buying.
- Make thy Gold multiply: Now, this is the heart of the matter. While saving part of our income is very important. but this is not the goal. The ultimate goal of saving is to multiply the savings through meaningful investment. These investments must be properly planned. After you have saved for a while, take the money saved and investing it. Through this, you are making the money work for you through profitable investment.
These are some of the things that you can invest in:
- Stocks and shares
- Treasury bills, bonds, and other mutual funds
- Trade (buying and selling)
- By expanding your existing business
Any of this business can be ventured into after a careful plan and study of the business.
- Guard thy treasure against loss: The first sound principle of investment is security for the principal. The principal is the start up capital or the money that is used to start a business. This aspect is very important and can never be over-emphasized. The pain of losing one’s investment is better imagined than experienced. Therefore, do everything possible to know the kind of busines you are investing on. Ponzi schemes and other business that promises unimaginable returns on investment should be avoided. to this business is dangerous and they attract only the greedy minds who want to reap where they have not sow.
- Make of thy dwelling a profitable investment: This is yet another insight into how to live a happy life. The principle talks about the need to own the roof over your head. Why this is important is because of the way landed property appreciates. and if you do not own your own property, it means that you will continue to pay rent on your house. Investment in landed property is a very lucrative one that could bring in a high level of return.
- Ensure a future income: Future income is about your income after retirement. Everyone must as a matter of urgency plan for his or her retirement. It is like saving for the raining days when you will not have the energy to be involve in any physical activity. At that point, only your investment and what they are generating will be all that is available. Care must be taken to ensure that one is not left without anything to fall back on during retirement.
Finally. here is the last principle that have existed for so long and passed down from generation to generations.
- Increase your capacity to earn: one of the greatest investment one can make is investment in one capacity or capability to earn even more. Investment in your capacity also includes expanding on your existing assets like land and buildings. plant and machinery and other assets that could help generate more and better income.
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I hope you have read and digested the principles of wealth that I have shared today. These seven principles have helped changed many lives and they will continue to profit anyone that is financially disciplined. enough to abide by them.