This novel is great ... but there is no editor or he is incompetent . . . . . And I need to write 140 characters to post this review... so I’ll copy paste quotes from *Arkad of Babylon:* 1/ Save 10% of Your Income: Every full moon day, Arkad first kept aside 10% of his total income as savings. Then he budgeted the remaining 90% for other expenditure. Instead of using the monthly income to first pay for bills and sundry expenses, one must first save at least 10% of income; what can also be called as "pay-yourself-first". This must be done regularly, no matter what. 2/ Control Your Expenditure: Arkad, after first saving 10% of his income, he managed his expenses within the remaining 90%, even though income in some months was lesser. He strictly controlled his expenses and spent for what is worthy & reasonable. He never ever spent more than he could afford and thus avoided the trap of debt. In case, one has a debt (i.e. bank loan) for the purpose of acquiring an asset (e.g. house), after 10% is set aside for savings, certain percentage of income must be set aside to regularly pay the debt. 3/ Multiply the Money: The 10% that Arkad saved, he invested it so that the money starts earning for him and gets multiplied. While multiplying the money, he followed the following two basic principles : Safety First: Ensuring the safety of the capital is the first priority. There are many ponzy schemes promising to multiply money at a faster rate than normally possible. Never fall prey to such bogus gimmicks. Deep Domain Understanding: Arkard, gave the first ever instalment of his 10% savings to a friend, who was brick-mortar mason. He asked his friend to buy some exquisite jewellery from a foreign market, so that these can be sold in Babylon for a good profit. His friend with no knowledge and understanding of jewels got cheated and Arkad lost all the money. Afterwards, he invested only in the domain he had deep understanding and some experts advice was available to guide him. If you want to lend money to a friend or relative who wants to start a business, first check the soundness of his business plan, his expertise, experience and ability to execute the plan to really generate profits; so that, your capital is safe and generates reasonable returns. 4/ Insure Future Income: Arkad invested his savings wisely and the money started multiplying itself. The capital was safe and guaranteed a certain rate of returns. Even at leisure, when he was not working, there was recurring source of income coming to him like a ever-flowing fountain stream. One must have a plan for social security and retirement and aim at achieving financial security for the old days when one's earning ability will be reduced significantly. 5/ Enhance Your Earning Ability: Arkad started observing how other potters earned more than him. He noticed that they were more skilled and more devoted to their work. He continuously improved his skills so that his output can be enhanced significantly, leading to more income. The more he earned, the more he saved and the money got multiplied big time. These simple yet sound financial secrets to wealth are relevant for any individual or an enterprise. For an enterprise, if innovation is the key to its success, it must first keep aside 10% of its gross revenue for research and development (R&D). Because this investment of 10% shall pay off big time in the long term. Also, it must control its operational cost and adopt of a culture of frugality across the board. Finally, it must focus to continuously improve its earning ability and keep adding to its top line, quarter after quarter. Then, the enterprise can stand the test of time.
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