Rules for saving money
Studies show that out of 100 businessmen, only 4 become rich and save their money.
Most people make money and lose it. To prevent this, follow the 12 rules:
Invest only in what you know
This simple short rule of a few words could prevent a quarter of the losses in the world of FINANCE.
Never invest under pressure.
This rule applies to both business and financial activities. The essence of it is that everyone who has some money, should firmly adhere to the principle: never spend, do not lend and do not invest them under pressure.
Make money on property, not plans.
In the world of Finance, everyone makes money by speculating. Everyone risks. Everyone has his own ideas and, implementing them, he either wins or loses.
Invest only in what you can resell.
Do not mess with anything that can not be sold – says the fourth rule. If you want to know how important it is, ask any well-known businessman. Every major businessman has repeatedly suffered losses, forgetting about this rule.
Get your profit.
Often you hear: “it’s A pity that I missed the opportunity to sell it.” Very likely, you yourself have said these words himself.
Listen to your banker.
There are no maps or roads in the financial jungle. Most of the time spent here, everyone feels like a lost traveler. But there are people who have spent their entire lives in this jungle and who therefore know their laws and dangers. In this sense, you can rely on bankers most of all.
Buy during the fall and sell during the rise in prices.
The rule consists of only a few words, but if you can put it into practice, you will make a fortune. This is easy to say, but there is hardly one person in a thousand who has the courage and independence to do it.
Keep the money in circulation.
Every dollar is a small worker. We need to make sure that he worked, not slept: found a use for himself and a few weeks later returned, leading a new small coin.
Take as much as you can invest in the business.
You need to have the courage to take a loan – advice that is most needed by thousands of businessmen.
Borrow for development, not for bragging.
Many commercial firms went bankrupt because they didn’t pay attention to this rule. They did not distinguish the development from boasting.
If some writer had shared these thoughts with me 30 years ago, it would have helped me to keep a solid amount and half a dozen friends.
Bet on the whole industry and watch for price fluctuations.
This rule will mean a lot to those who can understand and use it.