5 Laws That Govern Money

By D. J. Goodman / Blog / MoneyBased

In this article, I want to show you the universal laws that govern money. The purpose is to educate you on how to earn money and put it to a multiplication process. Poverty and lack of money is not your lot, this is why you cannot afford to gamble with money-related affairs. Having adequate knowledge in ths area is very vital; so let’s get started.

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1. Retain Instead of Spend:

The first law that governs money is that the person who wants to create wealth through self-employment must first of all learn the art of saving! For so many years, I didn’t sign up to the habit of saving for so many reasons. For one, I always thought people who save money are the stingy type, who can never be a blessing to themselves and the people around them. However, I was wrong. My problem was that I mistook “hoarding” money for “saving” money — which are two differnt things entirely!

Hoarding is a habit that is motivated by fear and greed; while saving, in the context of our discourse, is a habit motivated by vision for creating a better future. Saving is a habit of self-discipline, which helps you to pass the first law that govern money, which is: retaining instead of spending! Let me explain this further.

If the first thing that comes to your mind when you have money is to buy this or that item, then you can never really create wealth or become self-employed, because you will merely live from hand to mouth and never really be able to raise enough capital to start any worthwhile project.

With this mentality of setting some money aside deeply ingrained in you, it’s just a matter of time before you realise what you have today is enough to start your own business.