A part of all you earn is yours to keep
A very simple quote from the first chapter of “The richest man in Babylon”. Although it is a very basic concept in acquiring wealth many people don’t realize the value it. It is as simple as keeping aside some part of your income to yourself first before spending it. Before paying for food, clothes, rent or mortgage you should pay yourself first. Most people forgot to do this and end up having no money left behind.
This is the fundamental concept in saving and part is described to be a minimum of 10% by the “Arkad” who is the richest man in Babylon. It should be possible to save at least one-tenth for each individual without affecting their current lifestyle drastically and keep living the same way as they are now, however in a year you will have saved an amount worth your income for a month. Later you can use it wisely to acquire even more income.
Book in itself is quite amazing, and one of the best we have read on Investing principles because of its simplicity as you can see in the above thought itself. Amazon link below