THE RICHEST MAN IN BABYLON

The basic principles of effective Money Management.

  1. Save at least 10% of all that you earn for an investment fund for the future.
  2. Learn to live on 90% or less your income.
  3. Invest your accumulated capital into project that will provide a safe, steady income, taking full advantage of compounding of the interest received.
  4. Invest only in areas in which you have expertise or with people who are experienced.
  5. Buy the house in which you live so you don’t waste any money on rent.
  6. Have a realistic insurance (takaful) program.
  7. Always keep working at various ways and means of increasing your income.
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