UC Microeconomics Spring 2018 discussion

The Art of Money Getting: Golden Rules for Making Money
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Boeun Han | 1 comments I have been seriously concerned about money management for a few months before I read this book. However, I do not have much money to manage, so I was worrying about what I should do first. The answers I found are maintaining good health and saving even a little money for emergencies. I was surprised when my plan matched the author’s view before I could even turn over a few pages from this book. Was it a coincidence? I would like to talk about some strategies to make money I was impressed with.
In the head of his book, he mentioned saving and spending too much to be seen. People think they seem to be doing tremendous saving while saving only a few pieces of papers and candles. They impulse shopping for themselves, saving money or wasting important time to build their knowledge. He wrote several expressions to point out it. It is best to remember for me that “they are like the man who bought a penny herring for his family’s dinner and then hired a coach and four to take it.” This is my problem why no money was collected despite the habit of saving. As he mentioned, my expenses swallow up my income.
In the chapter about avoiding debt, he explained the characteristic of money that it can be a very excellent servant but a terrible master. He commanded that “Let money work for you but do not let it work against you if you want to have chance for success in your life.” I became proud of myself a little because I had made up my mind not to be indebted and to only have a meal under a dollar when I was very poor in university.
Among the next several sections, I focused on persevere, doing whatever you do with all your might, and not scattering your powers. Persevere means go-aheaditiveness and self-reliance. He emphasized it is important not only to go ahead if you are right but also not to let the horrors or the blues take possession of you, quoting from Davy Crockett. I had never thought I was lazy, but now I realize it is laziness to not be able to take a step forward when I can do it. I will try my best without delay in what I can do right now. I laughed when I read that “A constant hammering on one nail will generally drive it home at last, so that it can be clinched” because I could easily imagine my awkward appearance, making multiple holes or hitting my thumb with a hammer. He might have been watching my mistake 150 years ago.
At the end of a book, he highlighted some points precisely. It is a matter of common interest to help others in the past and nowadays. I learn from him “The best kind of charity is to help those who are willing to help themselves.” Moreover, honesty can not be stressed too strongly in our life, but he says strict honesty brings the foundation of all success in life and honor as well.
In conclusion, a lot of advice in this book might be nothing special or surprising, but I read this book from beginning to end, admiring the fact that the book written over 150 years ago is suitable even today when science and technology is highly advanced. I would like to accumulate more knowledge based on that advice and I hope money would come with me as well.


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