Tokkummaa Jabeessaa Oromoo

23/06/2023

The Richest Man in Babylon is a 1926 book by George S. Clason that dispenses financial advice through a collection of parables set 4,097 years ago in ancient Babylon. The book remains in print almost a century after the parables were originally published, and is regarded as a classic of personal financial advice.

The parables are told by a fictional Babylonian character called Arkad, a poor scribe who became the "richest man in Babylon". Included in Arkad's advice are the "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 "home ownership".

The seven cures are:
1. Start thy purse to fattening. Save money. Put aside 10% of your income every month.
2. Control thy expenditures. Don't spend more than you earn.
3. Make thy gold multiply. Invest your money wisely.
4. Guard thy treasures from loss. Protect your money from risk.
5. Make of thy dwelling a profitable investment. Own your home.
6. Insure thy life. Protect your family from financial hardship.
7. Increase thy earning power. Learn new skills and increase your earning potential.

The five laws of gold are:

1. Avoid debt. Debt is a financial trap.
2. Invest for the long term. Don't try to get rich quick.
3. Diversify your investments. Don't put all your eggs in one basket.
4. Reinvest your earnings. Let your money make more money.
5. Pay yourself first. Put aside money for your future before you spend anything else.

The Richest Man in Babylon is a timeless classic that offers practical advice on how to build wealth and achieve financial security. The parables are easy to understand and the advice is sound. If you're looking for a way to improve your financial situation, I highly recommend reading The Richest Man in Babylon.

Here are some of the key lessons from the book:

• Start saving early. The earlier you start saving, the more time your money has to grow.
• Live within your means. Don't spend more money than you earn.
• Invest wisely. Do your research and invest in assets that have the potential to grow over time.
• Protect your assets. Insure your home and belongings, and have a plan in place in case of an emergency.
• Increase your earning power. Learn new skills and take on new challenges to increase your income.

The Richest Man in Babylon is a valuable resource for anyone who wants to improve their financial situation. The lessons in the book are timeless and can help you achieve financial security and success.

BOOK: https://amzn.to/3pip6Qg

23/06/2023

Worth Reading & Sharing
Here are 10 lessons from the book “The Power of Habit” by Charles Duhigg:

1. Habits are powerful forces that shape our lives. They can help us achieve our goals or hold us back from success.

2. Habits are formed by a three-step loop: cue, routine, and reward. The cue is a trigger that tells our brains to go into automatic mode. The routine is the behavior we perform. The reward is what we get out of the behavior.

3. Once a habit is formed, it can be very difficult to change. This is because the brain creates a neural pathway for the habit. The more we repeat the habit, the stronger the neural pathway becomes.

4. However, it is possible to change habits. The key is to identify the cue and reward for the habit you want to change. Once you know what triggers the habit and what you get out of it, you can start to create a new habit loop.

5. **One way to change a habit is to ** insert a new routine into the habit loop. This can be done by making small changes to the cue or reward. For example, if you want to stop eating junk food, you could start by putting it out of sight. This will make it less likely that you will be triggered to eat it.

6. **Another way to change a habit is to ** make the new routine more attractive. This can be done by making it more rewarding or by making it easier to do. For example, if you want to start exercising, you could make a deal with a friend to go to the gym together. This will make it more likely that you will actually go.

7. It is important to be patient when trying to change a habit. It can take weeks or even months to break a bad habit and form a new one. Don't give up if you don't see results immediately.

8. It is also important to be kind to yourself. Changing habits is hard work. Don't beat yourself up if you slip up. Just pick yourself up and start again.

9. Finally, remember that you are not alone. Everyone struggles with habits. There are many resources available to help you change your habits.

10. **The most important thing is to ** never give up. If you keep trying, you will eventually succeed.

I hope these lessons help you on your journey to creating better habits.



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29/05/2023

8 Lessons From the Book “The 48 Laws of Power”

1⃣ Alive Time or Dead Time?
Dead time where we are just waiting

Alive time where we are learning and active and leveraging.

👉 There’s no third option. You have to choose!

2⃣ Be Amoral in Your Assessments, Be Ethical In Your Actions
🤓 Books explain what various species do.

👉 But as humans we’re free to make our own choices in our own lives, and we should choose well (as he has done).

3⃣ Objectivity Is Everything
😉 It’s not about seeing the world negatively, it’s about removing that impartiality we project on it.

4⃣ Be Better Than People Expect
❗️When you create public work, people naturally make assumptions about you.

👉 You should be nicer, funnier, smarter, more open-minded, cooler, more informed.

5⃣ Make Your Way to the Inside
🤠 When we approach a field we haven’t yet studied, we are on the outside of.

💭 But as we put in the work, as we familiarize ourselves with every component, as we develop our intuitive field, we eventually make our way to this inside.

6⃣ Make Time for Strenuous Exercise
Swimming is a great productivity tool. Why?

🤓 Because it requires total isolation: no music, no phone, no possible interruptions. Just quiet, strenuous exercise.

👉 I’ve had some of my most productive brainstorming sessions in the pool.

7⃣ Learn The Art of Patience
💭 It’s easier to be patient when nothing is happening though.

😉 Let the time does its best. Let it grow.

8⃣ OK Is Not Good Enough
💭 It’s that sense of perfectionism that is the difference between a mediocre book and a timeless one.

👉 Ask yourself: Did I throw away some pretty good stuff? If I didn’t, it means I’ve settled.

BOOK: https://amzn.to/3N0OxPF

08/07/2022