How to multiply your money?

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Hey guys, We all want to become rich but most of us don’t know how to multiply our money. But don’t worry I am here to help you out.

This one is a short summary of the book “The Richest Man in Babylon.Today I will be covering only 7 easy but effective steps from the book which can help you to increase your wealth.

In the book, the author tells us “Arkad”, a poor scribe who became the richest man in the city of Babylon. One day his friends came to visit him and asked him how he got that rich? So then “Arkad ” told them about  “Seven Cures” (or how to generate money and wealth), and the “Five Laws of Gold” (or how to protect and invest wealth). A core part of Arkad’s advice is around “paying yourself first”, “living within your means”, “investing in what you know”, the importance of “long-term saving”, and “homeownership”.

 Seven Cures (or how to generate money and wealth) 

1. Save 10 % of your annual income to start building up      

   Wealth.

2. Don’t waste money for buying unnecessary and luxury 

  Products.

3. Invest and compound the investment return from these 

    Savings.

4. Don’t take risk of loss and don’t invest in get-rich-quick 

    Schemes.

5. Buy your principal residence and use it to establish a 

    Business.

6. It is important to have a pension and future retirement 

    Income.

7.  Increase your ability to earn by keeping developing your 

     Skills and knowledge.

 

So these are the 7 steps you can follow to increase your wealth without any risk according to the book “The richest man in Babylon” by Samuel Clason. Don’t forget to give feedback after following these steps.

Check the book out: https://amzn.to/2V8dr3E

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Shafaet

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