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How to pay off debt?
I was reading "The Richest Man in Babylon" recently. I bought this book after being introduced to it by teacher Zian. I am really in debt after starting this business. I read this book simply to learn how to pay off my debt. He is an unfit businessman who keeps flipping things over every time the repayment date comes.
From the time I graduated until now, I have been in debt, not because of my business. It's a personal financial issue.
I won’t complain about myself anymore. Tell me about the benefits I gained from reading this book and my actions.
1. The simplest and easiest thing to do is to save one-tenth of your income to make your wallet fuller. This is the most basic of the 7 principles of getting rich.
I took action immediately when I saw this. One-tenth of the income from each business transaction is allocated to the idle savings card.
2. Let money reproduce. Find people with experience in making money and ask them how to make money reproduce. Don't trust someone who has no results, he will lose his principal.
The author uses a story to illustrate the point. The protagonist and his wife in Babylon two thousand years ago over-consumed things they could not afford. He once became a robber in order to quickly pay off his debts, and was later captured and sold into slavery.
The protagonist is helped and given the wisdom of the Babylonian clay tablets. Escaped from the slave life, returned to his hometown, found his creditors one by one, made a commitment to the debt, and paid two-tenths of his income back to the creditors on average. At the beginning, the creditors also complained. After 12 full moons and waning moons, he paid off all the debts. paid off all debts. I also used the first principle to save a small amount of money.
Now that I feel more relaxed about debt, it’s time to talk to the bank about my own repayment plan. I haven't found anyone with experience yet.
A lesson for young people who have just entered society: do not borrow money for consumption and make investments beyond your ability. Save one tenth of your income.
If you have debt, face it bravely. The more you avoid it, the more tired you will be. Make a repayment plan, two-tenths of your income.
The things I am learning and practicing can be written down.
My dream remains unchanged, to be a rich, wealthy and loving person. Come on
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