- Do not overstrain or try to save too much
- Be content with what you keep
- Enjoy Life
ACTION2008:I shall save $500/month into my investment account for which I would not touch for any expenses. Target: $10K in my investment account.
CONTROL YOUR EXPENDITURES
- Live below your means
ACTION2008:I shall not spend on unnecessary things.
LET MONEY WORK FOR YOU
ACTION2008:I shall use my investment account to invest in stocks.
GUARD YOUR MONEY FROM LOSS
- "Risk comes from not knowing what you are doing" by Warren Buffett
- Understand an investment before trying it
- Seek advice from expertise of each field
ACTION2008:I shall do in-depth research on stocks before buying it. Long-term investment is ideal. No harsh movement! Give reasons why I am buying this stocks.
INSURE A FUTURE INCOME
- Save for the rainy days
ACTION2008:My insurance with monthly premium of $90 has insured me. I need at least a month's pay in my expense account for any emergency use.
INCREASE YOUR ABILITY TO EARN
- Desires must be SIMPLE and DEFINITE
- The more of wisdom we know, the more we may earn
ACTION2008:I shall continue to increase my knowledge on finance. I shall give tuitions, 4hrs/week to increase my income, hence my savings.
reflection of The Richest Man in the Babylon
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