1. Save at least 10% of all your earnings.
Laugh not at what I say because of its simplicity, “Truth is always simple.”
2. Control your expenditures.
The simple truth about men and the sons of men is this: That what each of us calls our necessary expenses’ will always grow to equal our incomes unless we protest to the contrary. All men are burdened with more desires than they can gratify. Budget your expenses that you may have coins to pay for necessities, to pay for enjoyments and to gratify worthwhile desires without spending more than nine-tenths of your earnings.
3. Make your gold multiply.
The money you save must make a lot more money; as the snowball rolls down hill it gets bigger and bigger.
4. Guard your treasure from loss.
If it sounds too good to be true, it probably is. Consult with wise men. Secure the advice of those experienced in the profitable handling of wealth. Let their wisdom protect your treasure from unsafe investments.
5. Make your dwelling a profit center.
If you pay rent to a landlord all your life, at the end of your life you’ll have nothing to show for it. Priorities are simple; 1) buy not rent, 2) have an adequate emergency fund, 3) have no debt.
6. Insure a future income.
Prepare for retirement by saving and wise investments and buy insurance so that your family will be provided for if you die. No man can afford not to insure a treasure for his old age and the protection of his family.
7. Increase your ability to earn.
A man must set concrete goals and work to achieve them. These goals should not only be to advance in one’s career or one’s position, but also to become wiser and more knowledgeable.
Further, if a man respects himself, he must do the following:
• Pay his debts promptly and not stay in debt.
• Take care of his family.
• Make a will.
• Have compassion upon those who are injured and smitten by misfortune and aid them within reasonable limits; do deeds of thoughtfulness to those dear to him.