{"id":1282,"date":"2017-03-29T09:52:27","date_gmt":"2017-03-29T07:52:27","guid":{"rendered":"https:\/\/www.namfisa.com.na\/educates\/?post_type=right_responsibility&p=1282"},"modified":"2025-07-17T14:46:57","modified_gmt":"2025-07-17T12:46:57","slug":"financial-planning-tips-a-recollection-of-ancient-wisdom","status":"publish","type":"post","link":"https:\/\/www.namfisa.com.na\/educates\/financial-planning-tips-a-recollection-of-ancient-wisdom\/","title":{"rendered":"Financial Planning Tips – A Recollection of Ancient Wisdom"},"content":{"rendered":"\t\t
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Ancient Wisdom for Modern Finances<\/h3><\/span><\/div>
Inspired by The Richest Man in Babylon by George S. Clason, this article shares timeless financial lessons that remain relevant today\u2014no matter your profession or income level.
\n\n\nThe article contains a recollection\nof ancient wisdom on the subject\nof thrift, financial planning and\npersonal wealth<\/b> based on a book by\nGeorge S. Clason, The Richest Man<\/b> in\nBabylon.
\nThe book contains lifetime wisdom\non seven cures for lean purses which\nare shared in this article, and the five\nlaws of gold, which will be shared in the\nupcoming Third Quarter 2016 bulletin.\nWhether you\u2019re a graduate trainee,\nnurse, a hairdresser or a billionaire, the\nseven cures for a lean purse, are basic\npersonal wealth fundamentals that\nno man can simply brush aside. So,\nregardless of your vocation, you have\nabout the same opportunity to make a\nfortune.\nThese seven cures for lean purses<\/b> still\napply today as they did hundreds of years\nago. Like the laws of gravity, the laws of\nmaking money in society are universal\nand do not change. Better a little caution\nthan regret<\/b>.\nStart by little savings\n

The first cure for a lean purse is to start\nthy purse to fattening. Spend, but onetenth\nof your income. That is, set aside\nnot less than one-tenth of the money you\nearn.<\/b>\nDoing this overtime, one would\nactually end up with more money than if\none had set nothing aside. If you had one\nbasket containing 10 eggs, and every day\nyou put in 10 eggs in the morning and\ntake out 9 in the evening. What would\neventually happen at the end of the week?\nIdentify your needs from wants.

\nSecondly, control thy expenditures.<\/b>\nHuman beings have unlimited desires\nfor material possessions of one kind or\nanother. One cannot satisfy all desires\nof the mind. Discipline yourself to spend\npart of your income on the things that are\nnecessary. Delay gratification. \u201cDesires\nare multitude, trying to satisfy them all is\nan invitation to poverty\u201d.

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\nChoose the right investment vehicle\nMake thy gold multiply<\/b>. Make your\nmoney grow or earn more money. One\nmay want to consider putting money\nin a Unit Trust account with local\ninvestment managers, or a savings\naccount with local banking institutions.\nThis is the lazy approach to making your\nmoney grow. Otherwise, you can create\nbusiness opportunities for investment.\nThese are simple recommendations\none may consider, instead of putting\nyour cash under a mattress, hoping\nsomething magical will happen to make\nit grow. However, the means of earning\nmore money are not limited to these\nsuggestions.\nChoose registered entities in your\nfinancial transactions\nGuard thy treasures from loss. Avoid\nputting your money into dubious acts.<\/b>\nFor example, avoid gambling or Ponzi\n\u201cget rich quick\u201d schemes. You don\u2019t want\nto put your money in the hands of people\nwho lack the experience in handling\nmoney matters.\nIt is smart to seek the advice of those\nwho are qualified or experienced to\nhandle other people\u2019s money like they\nwould handle their own. If you want\nadvice on how to grow vegetables in\nyour garden, you don\u2019t go to a pilot or a\ncomputer programmeradvice; you either\ngo to a farmer or seek the advice of a\nbotanist.\nConsider investing in property\nMake thy dwelling a profitable\ninvestment.<\/b> Simply put, consider\nthe possibility of owning a house as a\nresidence for your family; so trust your\nloved ones can have enough space to grow,\nplay, study and enjoy life. Make an effort\nto buy your house at a reasonable price.\nThis would require time and research on\nthe housing market. Investing in a home\nshould be a key priority for all.\nConsider a cover for the unexpected\nInsure a future income. We live in a\nworld full of ,uncertainty. So you want\nto always set aside some funds to meet\nany unexpected expenses.<\/b> For example,\nexpenses to cover your unplanned\nillness or other events in life that may\noccur. Putting away some money for\n\u201cemergency\u201d events would aid you and\nfree you from borrowing money to handle\nthose unexpected expenses.\nConsider making use of available\ninsurance products to avoid\ndisappointments. It is important to plan\nFinancial Planning Tips \u2013\nA Recollection of Ancient Wisdom\nfor retirement and ensure your family\nsome level of inheritance income that can\ncontinue your support for them long after\nyou are no longer able to do so.\nBe financially literate\nIncrease thy ability to earn. Everyone\nneeds some level of skills to earn money.\nA Bachelor\u2019s Degree or specific skills\ncertificate or diploma along with a\ncommensurate job might only be enough\nto earn a basic living and may not earn\nyou enough money to reach some of your\nlonger term career and earnings desires.\nEducate yourself in order to increase\nyour skills and capacity to earn more\nmoney. \u201cFormal education will earn you\na living, but self-education will earn you\na fortune\u201d.\nLastly, it is sane to seek out profitable\nprojects, business opportunities to invest\nin, or other cooperative means of earning\nextra income, because profits are better\nthan wages.<\/b>\nBased on The Richest Man in Babylon\n\u2013 The Success Secrets of the Ancients by\nGeorge S. Clason. Publisher \u2013 Signet \/\nFirst published in 1926 \/ ISBN 0-451-\n20536-7\n\n<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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  • <\/span>Start Saving - Begin by saving at least 10% of your income<\/li>
  • <\/span>Control Your Spending - Differentiate between needs and wants<\/li>
  • <\/span>Make Your Money Work for You - Invest your savings<\/li>
  • <\/span>Protect Your Wealth - Avoid risky ventures like gambling or unregulated schemes<\/li>
  • <\/span>Invest in a Home - Own your residence if possible, property is a long-term investment <\/li>
  • <\/span>Prepare for the Unexpected - Set aside money for emergencies and consider insurance to protect your future income<\/li>
  • <\/span>Increase Your Earning Potential - Continue learning and upskilling<\/li><\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    <\/h5><\/div>
    These ancient principles are simple, but powerful. Follow them consistently and you\u2019ll build a strong financial foundation\u2014one that can weather any storm.<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    <\/h3><\/span><\/div>
    \"Formal education will earn you a living, but self-education will earn you a fortune.\"\n\u2014 George S. Clason<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

    Ancient Wisdom for Modern Finances Inspired by The Richest Man in Babylon by George S. Clason, this article shares timeless financial lessons that remain relevant today\u2014no matter your profession or<\/p>\n","protected":false},"author":1,"featured_media":1286,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"footnotes":""},"categories":[425],"tags":[],"class_list":["post-1282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rights-and-responsibilities"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/comments?post=1282"}],"version-history":[{"count":12,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1282\/revisions"}],"predecessor-version":[{"id":35578,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1282\/revisions\/35578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/media\/1286"}],"wp:attachment":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/media?parent=1282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/categories?post=1282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/tags?post=1282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}