Trade The Journey

Trade The Journey

Saving: Is it really my money?

“A part of what I earn is mines to Keep.” Richest Man in Babylon

If you haven’t read the Richest Man in Babylon, I strongly suggest you add it to your reading list. This book covers the story of Arkad, a wealthy member of the Babylonian society, as he shares his wealth building principles.

The King has asked Arkad to share his principles with the common man so they might to become wealthy. The principles laid forth in this book suggest that we be wise in our spending and prudent in our savings.

The messages are conveyed through a series of stories and lessons with the hopes of inspiring the reader. Arkad learned these principles from an older man who agreed to teach him the principles in return for carving tablets.

Don’t worry I won’t ruin the book for you by spoiling some of the stories. But I will tell you not to overlook the message because of its simplicity. Saving and investing have indeed existed since the beginning of time.

Its a natural for us as human beings to prepare for the future. Somewhere along the way, our preparation fell along the wayside.

One principal shared in the book I believe in wholeheartedly is, “A part of what I earn is mines to keep.” This made me think about the money earned and what I offered in return, my time. I gave up something that could never be returned to me.

The owner of the company can find another work to complete the work if needed. He can replace a resource. However, time is a resource that cannot be returned. So when I look at my paycheck I set aside a portion to pay myself.

This portion is not to be paid to the bill collector or to the merchant. Its also not be wasted on the trend of the moment. This money that I have earned is mine and no one can have it without paying a fee to use it. It can be used to earn more so that in time what is returned will be enough to cover what is earned.

I’ll be able to recover the most precious resource on earth, Time. Don’t miss the power of this concept. The power of this concept lies not in the words but in the action.

Of course, there will be times when emergencies arise or for whatever reason things just go south. This happens and its a part of life. As a teenager, I would try to save and often, I would be successful.

Then I’d make a bad purchase and it would have a snowball effect. I would make the initial bad purchase and realize that a sizeable portion was still remaining in the account. Then I’d make another bad purchase and the reasoning would continue.

I’d spend until there was little left. Then an emergency would arise and I’d be completely broke again. I wouldn’t try again for months.

Things happen and we make mistakes but if you maintain the belief that, “A part of what I earn is mines to keep”, things will fall into place.

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