Hello friends, it's yet another day and I'm always excited to jump back into my couch and continue reading the Richest Man In Babylon book.
I gain so much wisdom every single day and in every single page.
Bansir and Kobbi, the poor friends after enduring so much hardships decided to seek for a solution out of their poverty. What Kobbi said to Bansir was for them to go to the rich and try to do what they did to become wealthy.
That's one wisdom we all need to be aware of. If you want to be rich and you want advice about wealth, the best person to give you such an advice is the one that already has the wealth. Results is a proof of knowledge about something and so they decided they'll go to Arkad who was at the time the Richest Man in the city of Babylon.
But before the could go, Bansir said to Kobbi he was afraid he'll be tempted to still the purse of gold from Arkad and his friend Kobbi told him that's nonsense.
Kobbi explained the real why he said that. A man's wealth is not in his purse but streams of income that keeps filling his purse no matter how liberal the man gets.
This is the wisdom I learned today. When we start out in life, our goal should not be just about savings to create a big fat account, no. The objective should be to keep creating so many different ways Money can come to our accounts.
Rich or wealthy men have so many sources of income and no matter how much to spend on liabilities, they never go broke.
That's why when you save money, the objective of the savings should be to use that to create a new stream of income for yourself and keep creating more until there's no way you can outspend your incomes.
Yes, managing your little income is a great thing but that shouldn't be how you live your life. We should be able to buy our dream cars now matter how expensive they are and still have so much money coming in.
Some people are so wealthy they barely even know what to do with all that money. They leave behind huge estates and cash to their family when they pass away. That's the life I aim for and I'm very inspired by this wisdom.