LEARNERS ARE EARNERS
You must learn to save first and spend afterwards.
-John Poole
We are all born learners. We learn to open our eyes, control our neck, talk, walk until we learn other complicated systems of the
educational system and the skills of livelihood. We keep learning for as long
as we live. Similarly, we are born earners.
Our income may come daily,
weekly, monthly, regularly or irregularly, but we do get money. It may arrive
in the form of salary, wages, gifts, tips, commission or allowance but it’s
earning nevertheless. The money may come from parents, order adults, school,
friends, employers, customers or the government. In the game of paying yourself
first, in order to kick-start a saving scheme, money or income is needed.
Let us now look at the income that derives from the
services you render. There is a law, promulgated by Earl Nightingale that:
“the income you get depends on the demand for what you
do, how well you do it, and the difficulty of
replacing you.”
This means that you can
increase your income by a proper use of imagination. You can choose a trade or
a career you consider to be in high demand or lucrative and you perform such it
an excellent manner in a way no other person can match. This being said, the
general rule remains the same: the more you learn, the more you earn.
In the game of earning,
one of the most insightful of all secrets is this: it is not how much you earn
that matters, it is how much you keep.
Whatever your income turns
out to be in any given month, the entire income is, in simple mathematics, 100%
of your entire earning for that month. It is suggested that you apportion such
into 10%, 10% and 80%. You then disburse each portion into different channels.
1.The First 10%
This is the portion you
will save. The teaching is for you to put this saving away before you touch the
remaining two portions. It is also recommended that you allow this first 10% to
move into a separate saving account automatically; it no longer remains in the
same account as the other two portions. Further transfer should then be made
automatic. You give the bank a standing order. It is moved by direct debit
before you get the chance to see it. This is the process described as paying
yourself first.
2.The Second 10%
Franklin Delanore Roosevelt once said that;
“The test of our progress is not whether we add more
to the
abundance of those who have much, it is whether we
provide enough for those who have too little.”
We make progress, tangible
advancement, as we learn to share. It is on this premise that a tenth, the
second 10% of our earning, is devoted to caring for the poor.
Giving away this tithe is
beneficial. The more you give, as it is said, the more you get. The important
thing to note is this; the giving should also be made automatic. You do this
either by a series of post dated cheques or by direct debit mandate. This is as
much as we can accommodate about this portion. Our chief concern, in this book,
is the first 10%.
KEY LESSONS
1.
A major
component of growth and development is knowledge.
2.
We
started off in life by learning to breath. We matriculated from laboured
breathing to reflect automatic breathing. Here is the rule: we must keep
learning until we stop breathing.
3.
As we
learn, we earn.
4.
The first
income is called “love money.” Such love money should be saved by the parents.
5.
As we go
through life into adulthood, we learn to progressively refuse further love
money. We then learn to earn every income. We take total responsibility for the
flow of money into our lives. Love money is harmful to adults.
6.
Only
honest earning, the types you have worked for, endures.
7.
To earn
more money, take these three steps simultaneously.
i.
Create
and improve the demand for what you do.
ii.
Conduct
your services in an excellent manner.
iii.
Let your
product or service be second to none.
8.
The first
portion, 10% of your income, is put away consistently and relentlessly.
9.
The
portion that makes you wealthy, from all the money you receive, is the part you
put away, and never spend.
10.The second 10% is shared. This portion is donated
to charity. The more you show fidelity to this structured benevolence, the more
money, happiness and healthy you will attract into your life.
This Article is take from PAY YOURSELF FIRST.
Life Related Problem's here is link :- How to live Longer and Better byFinding your Purpose
Written by Arshad. A
