I’ve read many articles about saving money.
Some people have some rules, hacks, tips, or whatever you want to call them.
But, really, it’s as simple as losing weight: Burn more calories than you take in.
It’s as simple as making money in stocks: Buy low, sell high.
Okay, I’m being a bit facetious. We know the concepts are easy. It’s the execution that’s hard.
Why did you come to this article? Did you not already know you have to spend less than you earn? Were you thinking there is an EASIER way?
Is there some hack or trick or something you haven’t already read, year after year? Will you read that one extra bullet point that will finally help you save money.
The reason you’re reading this is because you need MOTIVATION! You need to change your thinking.
Saving money is a behavioural issue.
That’s the problem with all the tips you and I have all read.
Some one liner like bring your lunch instead of buying it just doesn’t cut it. It’s not as if we haven’t thought of that already. It’s probably because we actually want to buy our lunch instead of making it! It probably tastes better!
You want to spend your money on vacation instead of your damn mortgage or credit card debt.
You want your daily $5 Starbucks latte, you want a better car, you want all sorts of things other than stashing away your cash which gives you no immediate gratification or utility whatsoever, right?
So, how can you get that MOTIVATION? How do you change your thinking?
The Richest Man in Babylon: The Success Secrets of the Ancients – The Most Inspiring Book on Wealth Ever Written
by George S. Clason
I believe this book can give you the motivation that no other article from Huffington Post, Financial Post, the Globe and Mail, and any of the big newspaper, big banks, or money bloggers can give you or that I’ve ever read.
Because everyone misses the one point in their lists which is the critical behaviour that we need changing before we can do this. And it’s MOTIVATION.
This book talks about it like no other article or book I’ve read. And it was written in 1926!
It’s a bestseller with over 2 million copies sold.
It’s written like a story, not a textbook not a non-fiction book. It’s actually a great, fun story to read.
- On Amazon, it’s got a 4.7 rating out of 3,455 reviews
- 93% gave it 4 or 5 stars
Screenshot: December 28, 2017
I bought this book many years ago myself. And while writing this article, I’ve been skimming through the book again. I will probably read it again because it’s good to be reminded of some of the lessons in the book.
Do you really want to be able to save money? Reading a few bullet points from articles isn’t going to change your thinking and behaviour. A book won’t necessarily either, but, it has a better chance. At least this one does.
There are many things that are great about this book. But, one that stands out for me is the earning lessons it teaches you. Not just about saving money.
If you make $40k per year, there is only so much you can save after all your necessary expenses.
You are then limited by how much you can save.
What I really like about this book is that it also talks about earning more which is what really increases your saving potential. Much more than those money saving tips like make your lunch, buy at a cheaper grocery store, or make automatic savings contributions, or whatever the tips are.
I’m not saying the tips are no good. You should carry those out, but, I think most of these kinds of tips we already know. We’re just not carrying it for some reason.
And this is why I found this book so amazing. It made me want to change. The book was inspiring. Even Tony Robbins read it.
“As a young man, I came across George S. Clason’s classic 1926 book The Richest Man in Babylon, which offered commonsense financial advice told through ancient parables. I recommend it to everyone.”–Tony Robbins, in Money: Master the Game
These are the main topics in the book:
1. Start Thy Purse to Fattening
2. Control Thy Expenditures
3. Make Thy Gold Multiply
4. Guard Thy Treasures From Loss
5. Make Thy Dwelling a Profitable Investment
6. Insure a Future Income
7. Increase Thy Ability to Earn
Notice this last point: It’s about earning more. That’s really the key to being able to save more and build your wealth.
So, if you’ve been having trouble saving, then try this book out.