Received Richard Templar’s The Rules of Wealth (the British version as a loved one picked it up in an airport somewhere, I believe the U.S. title is The Rules of Money). Much of what he writes about is the basic save, save, save, save philosophy that a regular finance book reader has seen before but there are some gems hidden within this short book (a very fast read).
Like Rule #72: Make Your Money Work For You
Templar states “always remember that idle money is wasted money – use it or lose it.” Don’t leave cash in non-interest bearing bank accounts. Don’t leave property vacant even if capital appreciation applies. Rent it out (this applies to vacation property too)! Hang that investment art on the wall (enjoy it while the value goes up).
I make it a point to look at what I have and ask myself “can I stretch this further?” Can I wear that blazer both for work and for weekends? Can that suit I bought for my cousin’s wedding be worn for work? Can I use the celery tops for soup stock while I eat the stalks (celery actually contains negative calories – it takes more calories to digest them than they contain)? Can I receive dividends from these shares while I wait for them to appreciate?
This especially applies to information and learning. Can I use that research I have to do for business in my blogs or my novels or my investing (better yet, all three)? The time and energy savings truly add up.