Moduers Story – The Five Laws of Gold

The Five Laws of Gold

 

Have you ever felt that you had worked so hard, but the money you have collected is only “that much”? Or you have already received some money, but there is no money left at the end of the month?

 

I think almost everyone has experienced it, or at least know some people who have experienced it. I guess I have that experience when I have not been independent and have not started working yet. Only receiving money, using it, and towards the end of the month have no money left. Try to be as frugal as possible at the beginning of the month and still have nothing left at the end of the month.

 

Recently I read the book The Richest Man in Babylon, a very inspiring and excellent book. It contains simple principles about financial management that we can apply, namely five laws about gold (in ancient times, people used gold as a medium of exchange):

 

  1. Those who are willing to set aside no less than a tenth of his income to create wealth for his future or family will eventually get the gold, with pleasure and in ever more significant quantities.
    • This principle teaches to set aside before using, at least 10%. Initially, it is not easy, but over time it can become a good habit.
  1. With zeal and joy, gold works for its wise owner, who finds a profitable work for the gold to reproduce cattle in the fields.
    • Invest in the right places. Our money will not grow if we leave it in an account, let alone only in our wallet.
  1. Gold is safe under the protection of its wise owners, who invest it based on the advice of people proven as experts in their field.
    • If you do not understand about investing, you would better ask or even leave it to an expert if necessary.
  1. Gold will run away from people who invest it in a business or purpose that (s)he does not know well or is not recommended by people who are experts in their fields.
    • Ask the right place and know our circle of competence. Only invest in instruments that we understand well.
  1. Gold will run away from those who force it to produce an impossible income, or who follow the sweet mouths of con artists and daydreamers, or who are inexperienced and grandiose in investing.
    • Start questioning the unrealistic results. I have suffered losses due to money games, which promise superb results. In the end, it brings losses. Better to look for investment returns with realistic figures.

I have no longer experienced what I experienced before since implementing those five principles and doing simple money management. You can start too.

 

_ A Journey starts with a single step _

 

Disclaimer.

Moduers Story is a column written by Moduit users. All experiences are personal to and have become the responsibility of each writer.

 

Want to start investing? Download Moduit app here.

 

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