Don’t Lose Money!

Written By | Financial Success | June 24th, 2013 | 8 Comments »

get rich

Throughout the history of American enterprise, you’ve heard the words, “work hard and save your money.”  Work hard and save your money.  It is the oldest rule for success in America, don’t lose money!  It’s so important, as a matter of fact, that W. Clement Stone once said, “if you cannot save money, then the seeds of greatness are not in you.” If you cannot save money, then the seeds of greatness are not in you.

Saving is a Discipline

Why is it that saving money is so important?  Because saving money is a discipline and any discipline affects all other disciplines in your life.

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If you do not have the discipline to refrain from spending all the money that you earn, then you are not qualified to become wealthy and if you do become wealthy, you’ll not be capable of holding on to it.

The Law of Attraction

A principle with regard to saving your money is the law of attraction.  The law of attraction is activated by saved money.  Even one dollar saved will start to attract more money. Here’s what I suggest that you do.  If you’re really serious about your future, go down and open a savings account.  Put as much money as you can into it, even if it’s only ten dollars.  And then begin to collect little bits of money, and every week go down and put something into that account.

Attract More Money Into Your Life

You will find that the more you put in that account, the more you will attract from sources that you cannot now predict.  But if you do not begin the savings process, if you don’t begin putting something away towards your financial independence, then nothing will happen to you.  The law of attraction just simply won’t work.

Invest Your Money Conservatively

Once you begin to accumulate money, here’s another rule.  Invest the money conservatively.  Marvin Davis, self-made billionaire, was asked by Forbes Magazine, “How do you account for your financial success?”  And he said, “Well, I have two rules for financial investing.”  He said, “Rule number one is, don’t lose money.”  He said, whenever I’m tempted, whenever I see an opportunity to invest where there’s a possibility I could lose it all, I just simply refrain from putting the money in.  Rule number two is, whenever I get tempted, I refer back to rule number one.  Don’t lose money.

Get Rich Slowly: Don’t Lose Money

George Classon says, in The Richest Man In Babylon, that the key is to accumulate your funds and then invest them very conservatively.  One of the characteristics of self-made millionaires, one of the characteristics of old money in America is that it’s very cautiously, conservatively and prudently invested.  Don’t try to get rich quickly.  Concentrate rather on getting rich slowly.  If all you do is save ten percent of your income, put it away, and let it accumulate at compound interest, that alone will make you wealthy.

Action Steps

Here are two things you can do to apply these lessons to your financial life:

First, open a separate savings and investing account today. From this day forward, put every single dollar you can spare into this account and resolve to never touch it or spend it for any reason.

Second, whenever you consider any investment of your savings, remember the rule, “Don’t lose money!” It is better to keep the money working at a low rate of interest than to take the chance of losing it. Be careful. A fool and his money are soon parted.

Thank you for reading this article about how you can get rich and avoid losing your money. Please share and comment below!

Topics included in this article are

Lose Money

Your Money

More Money

Get Rich

About Brian Tracy – Brian Tracy is recognized as the top sales training and personal success authority in the world today. He has authored more than 60 books and has produced more than 500 audio and video learning programs on sales, management, business success and personal development, including worldwide bestseller The Psychology of Achievement. Brian’s goal is to help you achieve your personal and business goals faster and easier than you ever imagined. You can follow him on google+, facebook, and twitter.

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8 Comments

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  1. Ngunenpaitutu says on July 25, 2013 at 3:53 am:

    Thank you very much!
    i will never lose money

  2. Mike Donald says on July 6, 2013 at 3:37 pm:

    Is said than done. It take a lot of practice not to lose money, and more to start making. :)

  3. zamir matia says on July 5, 2013 at 1:59 pm:

    halo

  4. Damien Morgan says on July 1, 2013 at 9:55 pm:

    Hello,

    My name is Damien Morgan. I am a Professional Financial Writer and I want to contribute an article for your blog “briantracy . com” on Finance topic. I have contributed many financial articles for numerous reputed websites. My article will be more than 500 words, informative, unique and it will only publish on your blog.

    I am pretty sure that you will gleefully accept my proposal to write an article for your website.

    Hope you would like my proposal and will give me an opportunity.

    Shall I send my Article?

    Best Wishes,
    Damien Morgan

  5. KEn says on July 1, 2013 at 9:11 am:

    Thanyou Brian! :)

  6. Timothy Ngugah says on June 28, 2013 at 8:43 am:

    You are a great blessings to my life, thank you sir.

  7. Pham Van Hieu says on June 25, 2013 at 5:27 pm:

    Thank for share,that greatttttt :)

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