Money saving rules
Studies show that out of 100 businessmen, only 4 become rich and save their money.
Most make money and lose it. To prevent this, follow the 12 rules:
Invest only in what you know.
This simple, quick, multi-word rule could prevent a quarter of the loss in the world of FINANCE.
Never invest money under pressure.
This rule applies to both business and financial activities. Its essence is that everyone who has some money must firmly adhere to the principle: never spend, not lend and not invest under pressure.
Make money on property, not on plans.
In the world of finance, everyone makes money speculating. Risks everyone. Everyone has his own plans and, implementing them, he either wins or loses.
Invest only in what you can resell.
Do not mess with anything that cannot be sold – the fourth rule says. If you want to know how important it is, ask any well-known businessman. Every major businessman repeatedly suffered losses, forgetting about this rule.
Get your profit.
Often you hear: “How sorry that I missed the opportunity to sell it.” It may well be that you yourself have already said such words to yourself.
Listen to your banker.
In the financial jungle there are no maps, no roads. Most of the time spent here, everyone feels like a stray 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 most rely on bankers.
Buy during a decline, and sell during a price increase.
The rule consists of just a few words, but if you can put it into practice, you will make a fortune. It is easy to talk about this, but there is hardly one out of a thousand people who have the courage and independence to do it.
Keep money in circulation.
Every dollar is a small worker. It is necessary to make it work, not sleep: it found its use for itself and returned a few weeks later, leading a new small coin.
Borrow as much as you can into your business.
It takes courage and a loan — advice that is most needed by thousands of businessmen.
Borrow for development, not for bragging.
Many commercial firms have sunk into bankruptcy because they did not attach importance to this rule. They did not distinguish development from boasting.
Do not lend.
If any writer shared these thoughts with me about 30 years ago, it would help me to save a substantial amount and half a dozen friends.
Put on the whole industry and watch for price fluctuations.
This rule will mean a lot to those who can understand and use it.