Reviews for Psychology for Teachers Psychology for Teachers

The average rating for Psychology for Teachers Psychology for Teachers based on 2 reviews is 4 stars.

Review # 1 was written on 2019-04-11 00:00:00 Brian Grace What I loved about reading this is that the principles to creating wealth in the 1920s (when this was written) are still true almost 100 years later, demonstrating that prosperity isn't some magical thing only a few special talented intelligent people with a "secret" can attain. It's really just a few simple common sense practices applied consistently with diligence and discipline to achieve progression. This book is a very good introduction into good financial management and wealth building. It is very practical, simple and free of any "get rick quick" self help gimmicks which I liked. The focus is on sharing principles through a series of fables set in ancient Babylon. Here are the key things I learned from the book: * Always pay yourself first. A part of everything that you earn is yours to keep, and at minimum it should be a tenth. After that you can pay anyone you owe money to. * If you want to become wealthy, you need to learn to set aside your savings and get the "children" of those savings to earn to. Your savings should earn more savings, which in turn should also be put to use to earn more savings and so on. The source of this should be 10% of your earnings so it is consistently topped up with a small amount that multiplies itself. * Learn to live on less than you earn and then seek advice from people who have the experience and can help you make your savings work for you. * There is no such thing as luck, it is always created by people who are taking action quickly. Clason writes "Opportunity is a haughty goddess who wastes no time with those who are unprepared". So make sure you complete things you start and waste little time in executing things. You have to stay prepared - it favours the people who take action. * "Wealth grows where men exert energy." I loved this quote. By amassing and building wealth not only are you prospering, but so are the people around you. For example, if a rich man builds a big palace, has the money disappeared? No, because he has created an asset of his own that holds his wealth but also has employed brick makers, builders, architects, and so many more through exerting energy in this enterprise. * A small safe return is better than one with risk. And you should always seek to minimise those risks by getting advice from wise experienced people who have knowledge of how and where to invest. * Don't also be afraid to spend and remember it is important to live while you are still here on the planet. There is a lot to enjoy in life and a lot to explore and do. * Control your expenditures - as your income grows, so will your expenditures unless you learn to manage them continuously and seek to minimise them. Everyone has more desires than they can actually ever keep up with so a far simpler method is to reduce your wants and needs as much as possible. * Guard your investments from loss by studying very carefully the risks associated with them and work to reduce them. For example, before you lend any kind of money, make sure that the other party has the ability and the plan to be able to repay you - no matter who that might be. * This one is as true now as it was then - own the property that you live in. So instead of paying a landlord rent and it constantly being a liability, where the money never returns to you. You are paying out (via a mortgage perhaps) but in the future are not losing wealth, merely building it for the future. * Plan ahead for not just your own future but the future of the people around you that you care about so that when you are gone, they are well taken care of. You do not want to be a burden on those around you when you have passed on. * Any wealth that comes quickly leaves the same way. This is because it is normally away from knowledge and persistence - two qualities key in attaining and keeping your wealth. An idea that runs counter to what a lot of false images upheld by the media * More people want wealth than have it * Help people, but do not take on their burdens on yourself. * A little caution is better than a lot of regret * The hungrier you are for something, the more sensitive you are to the 'odors' of success and prosperity. Stay hungry

Review # 2 was written on 2019-11-07 00:00:00 Timothy Shearer An interesting classic with a blend of historic facts and financial advice.