Years ago I read a book about becoming wealthy. I've read many books about wealth since then however, none of the other books I've read has taught me anything that the first book didn't. That first book is called The Richest Man in Babylon. The book is simple in what it teaches. On my journey to becoming a millionaire I'm going to follow that book and see if it works. I have come to believe that all of the other books I've read have tried to teach people how to become wealthy but they miss the basic points of wealth and make the process complicated.
It's been over 15 years since I've read the book so I'm going to read it again as I start the process of wealth building. Some of the basic principles I seem to remember are saving a certain percentage of your income and deciding never to spend it. Another principle is having no debt or getting out of debt. So that's where I'm starting as I read the book again. I'm saving 10% of my income and I'm paying off my debts. For me that means I'm going without a lot of things while I get out of debt. However, I'm hoping that by going without and saving while I pay off my debts that when I'm finished my debts will be gone and I'll have a nice cash reserve. In my next post I'm going to post specific financial details about my life to show where I'm beginning.
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