“The principle he learned and the one that you also can employ will now be stated in a very few words. In reading The Richest Man in Babylon, Mr. Osborn found that wealth could be acquired if you:
(a) Just save one dime out of every dollar you earn;
(b) Each six months, invest your savings and interest or dividend returns from these savings and investments; and
(c) When you invest, seek expert advice on safe investments and thus you won’t gamble and lose your principal.”
Excerpt From: Napoleon Hill. “Success Through A Positive Mental Attitude.” iBooks. https://itunes.apple.com/us/book/success-through-a-positive-mental-attitude/id381618319?mt=11
Oh, yes! The habit of saving, one of the best kept secrets and a principle I went over quite some time ago. Guys, it was July 3rd, 2017….my brother (as most negative stories from my childhood revolve around him) came home and was yelling at me. He said I was selfish (although I was a poor college student) because I was allowing my mother to pay for my phone bill. I remember crying and leaving to my best friend’s girlfriends’ house — Dominique. The next day we watched Transformers (the original motion picture) before going to a fourth of July party in the evening — where my brother actually greeted me with a handshake — acting as if nothing had taken place a day before.
Over the next year I stood up to him gradually….but all arguments and problems between 2005-2013 stemmed over money. Either I wasn’t giving my mom enough money, or I should get a job. From that point going forward, I was an aggressive saver.
Of course this doesn’t relate to investing, but I became self-aware that being broke, was not fun. Yes, I had $10 to my name at one point here in Thailand, but never again was I ever that broke again.
You have to be consciously aware of your spending. In my Darren Hardy blogs, I emphasized how you can curb your spending or just be aware of how much you’re spending. I always put myself on a daily budget. Thankfully I’m working hard throughout everyday; therefore, I don’t have time to buy things I crave (carbing up with pizza or pancakes). Also, I follow a routine every morning. I have a fried egg, rice, and chicken (stir-fried basil)….so I’m constantly aware of how much I spend everyday.
Guys, I can’t stress enough how important it is to save. In my podcast I give you some stories that ultimately lead me to saving.