Saving Money

Throughout the history of American enterprise, you have heard the words, “work hard and save your money.” Work hard and save your money is the oldest rule for success in America. As a matter of fact it is so important, that W. Clement Stone once said, “if you cannot save money, then the seeds of greatness are not in you.”

Why is it that Saving Money is so important? Because saving money is a discipline and any discipline affects all other disciplines in our life. If we do not have the discipline to refrain from spending all the money we earn, then we are not qualified to become wealthy and if we do become wealthy, we will not be capable of holding on to it.

A principle with regard to saving our money is the law of attraction. The law of attraction is activated by saved money. Even one dollar saved will start to attract more money. Here is what I suggest you do. If you are really serious about your future, go down and open a savings account right now today. Put as much money into it as you can even if it is only ten dollars. And then begin to collect little bits of money, and then every week, go down and put something into that account.

You will find the more you put in the account, the more you will attract from sources you cannot now predict. But if you do not begin the savings process, if you do not begin putting something away towards your financial independence, then nothing will happen for you. The law of attraction just simply will not work.

Once you begin to accumulate money, here is another rule. Invest the money conservatively. Marvin Davis, self-made billionaire, was asked by Forbes Magazine, “How do you account for your financial success?” And he said, “Well, I have two rules for financial investing.” He said, “Rule number one is, don’t lose money.” He said, “whenever I’m tempted, whenever I see an opportunity to invest where there’s a possibility I could lose it all, I just simply refrain from putting the money in.” Rule number two is, whenever I get tempted, I refer back to rule number one. Don’t lose money.

George Classon says, in The Richest Man In Babylon, that the key is to accumulate your funds and then invest them very conservatively. One of the characteristics of self-made millionaires and one of the characteristics of old money in America today is that it is very cautiously, conservatively and prudently invested.

Do not try to get rich quickly. Concentrate rather on getting rich slowly. If all you do is save ten percent of your earnings, put it away, and let it accumulate at compound interest, that alone will make you wealthy.

Whenever you consider any investment of your savings, remember the rule, “Don’t lose money!” It is better to keep the money working at a low rate of interest than to take the chance of losing it. Be careful. A fool and his money are soon parted.

“Remember, Success is Always Within Reach”

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