The Richest Man in Babylon

That what each of us calls our 'necessary expenses' will always grow to equal our incomes unless we protest to the contrary.

AQ's take: My 'needs' ballooned with every raise. Parkinson's law robbed me blind.

Apr 30, 2024

"This, then, is the second cure for a lean purse. Budget thy 43expenses that thou mayest have coins to pay for thy necessities, to pay for thy enjoyments and to gratify thy worthwhile desires without spending more than nine-tenths of thy earnings."

AQ's take: Budgeting curbed my splurges. 9/10ths forced discipline I lacked before.

Apr 30, 2024

"This, then, is the third cure for a lean purse: to put each coin to laboring that it may reproduce its kind even as the flocks of the field and help bring to thee income, a stream of wealth that shall flow constantly into thy purse."

AQ's take: Investing woke my idle cash. Now it breeds more. Started too late.

Apr 30, 2024

"This, then, is the fourth cure for a lean purse, and of great importance if it prevent thy purse from being emptied once it has become well filled. Guard thy treasure from loss by investing only where thy principal is safe, where it may be reclaimed if desirable, and where thou will not fail to collect a fair rental. Consult with wise men. Secure the advice of those experienced in the profitable handling of gold. Let their wisdom protect thy treasure from unsafe 47investments."

AQ's take: Lost shirt on dumb deals sans wise heads. Now grill pros first.

Apr 30, 2024

"Thus come many blessings to the man who owneth his own house. And greatly will it reduce his cost of living, making available more of his earnings for pleasures and the gratification of his desires. This, then, is the fifth cure for a lean purse: Own thy own home"

AQ's take: Renting drained me dry. Bought home, costs plunged, wealth grew.

Apr 30, 2024

"This, then, is the sixth cure for a lean purse. Provide in advance for the needs of thy growing age and the protection of thy family."

AQ's take: Skipped family safety net. Panic hit later. Insure future self now.

Apr 30, 2024

"This, my students, was the first cure I did discover for my lean purse: 'For each ten coins I put in, to spend but nine.'

AQ's take: Nailed my first broke years. Forced 10% savings rule. Purse finally fattened.

Apr 15, 2024

But too often does youth think that age knows only the wisdom of days that are gone, and therefore profits not. But remember this, the sun that shines today is the sun that shone when thy father was born, and will still be shining when thy last grandchild shall pass into the darkness.

AQ's take: Hit me cuz I ignored dad's timeless saving tips as a kid. Stayed broke forever.

Apr 13, 2024

Advice is one thing that is freely given away, but watch that you take only what is worth having. He who takes advice about his savings from one who is inexperienced in such matters, shall pay with his savings for proving the falsity of their opinions.'

AQ's take: Ouch. Took broke friend's investing advice once. Wallet still cries about it.

Apr 13, 2024