Financial Advice From My 10-Year Old
Here's what our 10-year old learned about money from The Richest Man In Babylon.
As we all step into our work week, I thought it might be good to share some wisdom from a man named George S. Cleason. He wrote a wonderful parable on financial freedom titled, The Richest Man In Babylon. He lived in the early 1900′s, but the wisdom is just as powerful now as it was then. Over Christmas Break, my husband and I read this with the kids. So, I've asked my 10 year old to summarize the book, so here goes:
Seven Cures For a Lean Purse: "You have to save 10% of everything for your savings." -Isaac, 10 yrs old. (10% of all you earn is yours to keep. -GSC)
Make a plan for your money and then stick to it!" -Isaac. (Adhere to a budget to control your expenses.- GSC)
Go do something with the money that will give you more money than if you went and bought a video game." -Isaac (Invest your gold to multiply it. -GSC)
Keep your money in the bank, don't spend it or lend it to anyone. If you do lend it to someone, make sure that you get something of their's so that if they don't pay you back, then you have something to keep." -Isaac. (Protect your gold from loss. -GSC)
You should own your own home!" -Isaac (Own your home. - GSC)
"Do good things with your money, so when you're old, you'll have money to live on." -Isaac. (Insure a future income. -GSC)
Have a good job or build your own business so you can make more money." -Isaac. (Increase your ability to earn. -GSC)
Healthy living includes financial health, so get moving today on securing your financial future. Nothing causes stress, sleep deprivation, and discouragement like money worries, so take these principles and apply them! You'll be glad you did!
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