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I have spent years studying the topic of wealth building and wealth creation.  I have read book after book after book.  Along the way I have learned some very priceless tips, tricks as well as headaches.  There are so many books that recommend doing things that are not practical to the majority of people.

We all hear the advice from wealth creation know it alls: Start a business, save more, spend less and my personal favorite – live within your means.  Well thank you Captain Obvious!  The book “The Richest Man in Babylon” puts these principles in easy to understand dialogue and changed the way I thought about wealth forever.  George S. Clason, offers a real sotution to our financial problems.

Before I share with you the “7 remedies for a lean purse” this book has taught me, I only ask that you have an open mind.  If you are close minded to the idea that you can begin creating a better life with the money you already earn, Please Stop Reading and Leave My website immediately.  If you are open and ready to change your financial life forever, than this blog post is for you.

Remedy # 1: Pay yourself first. This is the foundation to wealth creation.  The book recommends that you save 10% of all your earnings.  This advice has literally changed my personal finances.  Having money saved has a positive effect on your psyche.  It immediately changes your broke mentatlity.

Remedy # 2: Control Your Spending. While reading remedy number one, my first thought was “How can I save tem percent if I am struggling to make ends meet right now”.  Remedy #2 is the key to saving more.  This takes discipline, but is well worth it.  Think about it, just by cutting out fast food you will be able to cut the fat out of your budget and your midsection. Don’t confuse necessities and desires.  Start by making a budget today!

Remedy # 3: Invest. Start putting your money to work for you.  I always here people say the wealthy don’t work for money.  Very true, they make their money work for them.  In today’s economy investing may seem scary.  Feel the fear and do it any way.

Remedy # 4: Guard your investment from loss. Only invest where your principle will be safe.  Always seek sound advice from people who know how to make their money work.

Remedy # 5: Own your home. People are terrified about the real estate market.  But the truth is if you are renting you are paying someone else’s mortgage.  Today is the best time to buy real estate in your life time.

Remedy #6: Insure a future income. One day we all will be old.  No matter if you are a business owner or an employee; the day will come when you will no longer be able to work.  When that day arrives you will still have needs and desires.

Remedy #7: Increase your ability to earn. This is when wealth creation explodes.  There are so many ways to do this: Go back to school, learn a new trade, go to seminars, start a business.  There are countless ways you can increase your ability to earn.

These are just a few principles you will learn in this book.  I strongly recommend this book to any and everyone.  The principles in this book lead to me having my best financial year in 2009 while earning less than I did in 2008.  I can’t wait to see what 2010 brings.  I am well on my way to a bulging wallet, What about you?

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