Step 10 - The First 10% of All I Make Is Mine To Keep

One of the oldest, simplest and most powerful principles of wealth building is the habit of Saving the First 10% of all new income.

This is something that almost everyone has heard, but very few actually do it regularly.

Then from those who actually do it the majority will dip into the savings account and spend it.

When I first heard this principle from the Richest Man in Babylon I could only start saving €10 per month and it almost felt pointless. After 3 months I only had €30 in my prosperity account and it certainly wasn’t enough to excite me, as now I spend more than that for lunch when I go out for friends.

But when my mind accepted that I was committed to the principle of saving and I wasn’t going to touch it then I started to keep my eyes open for any new opportunity to add extra money to it.

Very soon I was able to double it, and then double it again. Within 2 years I was saving €1,500 per month and my prosperity account was growing rapidly. The faster it grew I got more excited and kept finding new ways to make more money.

If we are not making saving a regular habit then it feels like every year is just flying past us without getting richer.

The money from this account is not to be spent. The reason we never touch it is because if we know we have access to it then something will always happen that makes it necessary to dip into it.

You may be thinking… …if I am not going to spend it then why would I even save the money? Wouldn’t it be better to just enjoy it and have a good time?

….Well, as our wealth increases so does our confidence and feeling of certainty. This feeling will transfer into every other area of our life and make it easier to make more wealth.

Just as a full wallet attracts money, so does a full bank account.

If you have ever seen someone trying to sell products when they are desperate for money you can see the desperation on their face.

The more you need money, the harder it is to get more. The less you need money the easier it is to get more.

When we have 6-12 months or more of living expenses in an account then we cannot easily be controlled by anyone.

An employee who only has enough money to live for 1-2 weeks will always be living in fear and have to do whatever the boss tells them to do.

When you have 6-12 months of living expenses in savings then if a boss or client is rude or asking you to do something that goes against your values then you can easily refuse and find a new source of income.

Most of us are looking for the big exciting ways to make a lot of money without applying the basics.

The habit of saving is the most basic and important step towards building long term sustainable wealth.

And I know that you, Adrian, can be one of the few who actually take action on the most important wealth habits and become richer and richer every year.

:) :) :) € £ $ EXERCISE € £ $ :) :) :)

Get A New Prosperity Bank Account

Go to the bank and set up a new account and use it to put the first 10% of your income into and commit to let it build up without ever spending it.

or

Use a bank account that will not be used for any purpose other than saving the 10% and commit to let it build up without ever spending it.

For example if you make €1,000 per month then transfer €100 automatically into your new prosperity account, before you pay any bills or spend any of it.

You may have many reasons why you cannot start saving now and why it would be better to wait. But what I have found is that we can always think of a reason why “now” is never the best time?

If 10% is too much for you now then start with whatever you can afford and then gradually build up to 10%.

Even if it is 10 lei per month then please just start the habit of saving every month. As every year passes this is the most consistent and easiest way to build wealth.

The most consistent way to make this happen is to set up an automatic transfer payment so that it goes into your savings before you ever get to touch it.

Most of us will spend the money if we get it so it is important that we don’t have access to it.

And this process will be much more powerful if you do not have a debit card so that you can spend the savings.

W. Clement Stone, formerly the Richest Man in America said that…..

“If You Cannot Save Money Then The Seeds Of Greatness Are Not In You”

But we know that the seeds of greatness are in you and you can take action. By joining Wealth Club Romania you do have what it takes to be Rich.

I just ask that you prove it to yourself, get the account and start building real wealth.

This could be the greatest financial decision that you ever make.

Important!

To receive the Wealth Philosophy on Thursday please click the “Check!” button below.

In order to get access to further emails and newsletters from Wealth-Club Romania you need to confirm the completion of Step #10. So once your homework is done, please make sure you reopen this email and hit the confirmation button below.

PS: Remember that if you want to have your friends and family join you in wealth then we would love for you to send them this link and they can go through the process with you. People who grow together stay together!

Have a great week.

Best Wishes,

David