In an Over-Communicated, Intrusive World, Simple is Better
Ed

Clason’s “The Richest Man in Babylon” Part 2 – The 7 Cures for a Lean Wallet and The 5 Laws of Money

Copyright © 2007 Ed Bagley

Part 1 of this 2 Part series ends the synopsis of George Clason’s book “The Richest Man in Babylon,” but Clason raises an important question: Why should
so few men be able to acquire so much gold?

The answer is because they know how.

One may not condemn a man for succeeding because he knows how. Neither may one with justice take away from a man what he has fairly earned, to give to men of less ability.

And so it was that the good king of Babylon sought out the richest man in Babylon to teach to others in his kingdom the secrets of his success.

This is a synopsis of what the richest man taught to the people
of Babylon:

The Seven Cures for a Lean Wallet

1) Start your wallet to fattening. Save one-tenth of all you earn. Remember that a part
of all I earn is mine to keep. Do this faithfully. Do not let the simplicity of this escape you.

When I ceased to pay out more than nine-tenths of my earnings,
I got along just as well.
I was not shorter than before, and, money came to me more easily than before.

2) Control your expenses. How is it that all do not earn the same yet all have lean wallets? Here is the truth: That which each of us calls our “necessary expenses” will always grow to equal our incomes unless we protest to
the contrary.

Confuse not necessary expenses with desires. We all have more desires than our earnings can gratify. Examine which of the accepted expenses of living can be reduced or eliminated. Let your motto be 100% of appreciated value demanded for every dollar spent.

Budget your expenses so that your actual necessities are met without spending more than nine-tenths of your earnings.

3) Make your money multiply. Protect your growing treasure by putting it to labor and increasing. Money in your wallet earns nothing. Money that we earn from our money is but a start; it is the earnings generating earnings that builds fortunes.

When the richest man in Babylon loaned money to the shield maker to buy bronze, he said this: “Each time I loaned money to the shield maker, I loaned back also the rental he had paid me. Therefore not only did my capital increase, but its earnings likewise increased.”

4) Guard your money from loss. Everyone has an idea of how to make quick money; few, however, have the evidence of making money to justify their idea, scheme or offer of quick riches. The first sound principle of investment is security for your principal.

Before you loan your money to any man assure yourself of his ability to repay your loan, and of his reputation to do so. Make no one a present of your hard-earned treasure.

Consult the wisdom of those experienced in handling money for profit. Such advice is often freely given for
the asking, and may possess more value than the amount you
are about to invest.

5) Make your home a profitable investment. When you can set aside only nine-tenths of what you earn to live, and can use a part of that nine-tenths to improve the investment in your housing, do it; owning your own home is also an investment that grows with your wealth.

Your family deserves a home they can enjoy and call their own. It builds a sense of stability and well-being.

6) Ensure a future income. Build income-producing assets that do not require you to work forever. We will all grow old and die.

You should prepare a suitable income for the days to come when you are no longer younger and cannot work as hard, and to make preparations for your family should you no longer be with them to comfort and support them. Provide in advance for the needs of your growing age, and the protection of your family.

7) Increase your
ability to earn.
Desire precedes accomplishment, and the desire must be strong and definite. When you have backed your desire for saving $1,000 with the strength and purpose to secure it, you can then save $2,000.

Desires must be simple and definite. Desires defeat their own purpose when they are too many, too confusing, or too difficult to accomplish. Cultivate your own powers to study and become wiser, more skillful, and more productive.

Here is more sage advice from Clason’s masterpiece on financial matters:

The 5 Laws of Money

If you had to choose, would you choose tons of money or wisdom? Most men would take the money, ignore the wisdom, and waste the money. Here is the wisdom:

1) Money comes gladly and in increasing quantities to any man who will put aside not less than one-tenth of his earnings to create an estate for his future and the future of his family.

2) Money labors diligently and contently for the wise owner who finds for it profitable employment, multiplying unto itself in infinity if kept working diligently. Money multiplies itself in surprising fashion.

3) Money clings to
the protection of the cautious owner who invests it with the advice of men wise
in its handling.

4) Money slips away from the man who invests it in businesses or purposes that he is not familiar with, or which are not approved by those skilled in its keep. The inexperienced handler of money who trusts his own judgment, and puts his money in investments which he is not familiar, always pays with his money for his experience.

5) Money flees the man who would force it to impossible earnings, or who follows the alluring advice of tricksters and schemers, or who
trusts it to his own inexperience and romantic desires in investment.

Here is the hard lesson of the 5 Laws of Money: You cannot measure the value of wisdom in bags of money. Without wisdom, those who have it quickly lose money, but with wisdom, money can be secured by those who have it not.

This ends the condensation.

My Big Fat Greek Wedding – 4 Stars (Excellent)

My Big Fat Greek Wedding is simply one of the best movies ever made about close families and their traditions.

This film is on par with Fiddler on the Roof (winner of 3 Oscars among 8 nominations) and A Christmas Story (winner of no major awards and no Oscar nominations), proving that the biggest award-winners are not the only great movies.

A Christmas Story and My Big Fat Greek Wedding were matched bookends in that both films were not thought to be worthy of financing by typical Hollywood backers and ended up as independent films with limited distribution before becoming huge successes.

A Christmas Story, a low budget film that was not expected to do well, was released just before Thanksgiving in 1983. By Christmas the film had been pulled from theaters because it was thought to have been “played out.” It was only because of complaints from moviegoers that it was brought back to life and has since developed a loyal following of fans that will not let it die.

My Big Fat Greek Wedding was filmed because a gutsy Greek girl named Nia Vardalos believed in herself and in her one-woman stage show to keep performing until Rita Wilson saw the play. She persuaded her husband Tom Hanks to produce a movie version.

Wilson, like Vardalos, is Greek. Wilson’s reward as one of the producers with her husband and Gary Goetzman was to see the project completed. The PGA Golden Laurel Awards remembered Rita Wilson by giving her the Visionary Award in 2003. The three producers also won the Golden Laurel Award for Producer of the Year.

So we have in My Big Fat Greek Wedding a low budget, independent film that was about to make Hollywood history.

To show you how dumb the Hollywood financial backers were and how smart Tom Hanks was the estimated $5 million budget for My Big Fat Greek Wedding generated worldwide revenue of $368 million.

The Hollywood backers thought America filmgoers would not accept an ethnic film. I wonder how many of the same backers recognized that Fiddler on the Roof, produced 31 years earlier in 1971, was an ethnic film about a Jewish family which broke with the tradition of arranged marriages.

My Big Fat Greek Wedding (2002) became the highest-grossing independent film of all time, surpassing The Blair Witch Project (1999). It also became the highest grossing movie never to have hit number one at the box office, surpassing Dances of the Wolves (1990). Incredibly , the film was still running in several theaters even after its initial video release.

This film is essentially the story of Toula (Nia Vardalos), a 30-year-old Greek woman who falls in love with John (Ian Miller), a non-Greek man, and struggles to get her family to accept him while both of them come to terms with their heritage, cultural identity and mutual compatibility.

As Toula says, “Nice Greek girls are supposed to do three things in life: marry Greek boys, make Greek babies, and feed everyone . . . until the day we die.”

Her father, Gus Portokalos (Michael Constantine) says: “You better get married soon. You’re starting to look old!” Gus also says, “There are only two kinds of people, Greeks and people who wish they were Greek.” He believes any ailment can be cured with Windex.

My Big Fat Greek Wedding is the Greek community at its most accurate and best, all of the suffocating love, demanded tradition, motivation by guilt, male ego, female influence, pride of race, sibling ties, extended family, romance and sacrifice for those we love.

This film is not heavy and dripping with drama, this is a romantic comedy mixed with strong family traditions that proves Shakespeare’s sage observation that “all’s well that ends well.”

The cast is not star-studded and proves that you do not need to be a headliner to deliver a headliner’s performance and then some. Joining Nia Vardalos, Michael Constantine and Ian Miller with significant and meaningful contributions were Lainie Kazan as Toula’s mother Maria, Louis Mandylor as Toula’s brother Nick, Andrea Martin as Aunt Voula, and Gia Carides as Cousin Nikki.

Vardalos, Constantine, Mandylor and Carides were the only true Greeks in the cast.

There is a point in the film when Toula feels she is losing the battle and laments that “the man is the head of the house.” Her mother Maria tells her that “the man is the head, but the woman is the neck, and she can turn the head any way she wants.” Maria does so in a confrontation with her husband that should make women proud.

This film will warm you heart, entertain your soul and cause you to walk away a better person for having seen this superb effort in moviemaking. Toula’s personal growth as a young woman freeing herself from forced expectations against insufferable odds is so precious that you want to take her home and adopt her.

I once went to a Polish funeral and was amazed that when the funeral was over and the reception began, the whiskey flowed and all of the immediate family and friends had a heck of great party drinking, dancing and singing. I learned more about family traditions in different cultures at that Polish funeral. Some cultures celebrate the life of a loved one after the funeral.

Despite the complications presented in My Big Fat Greek Wedding you come away wanting to be Greek because you see the love and the fun that they have much more than any disagreements or disappointments.

The interaction between Toula and her brother Nick is really sweet, touching and funny.

At one point, Nick is impressed with Toula’s ability to break with tradition (he secretly wants to study art) and says, “Don’t let your past dictate who you are, but let it be part of who you will become.” “Nick, that’s beautiful,” replies Toula, to which Nick adds, “Yeah, that dear Abby really knows what she’s talking about.”

Nia Vardalos wrote the script and earned an Academy Award nomination for Best Screenplay, was nominated for 6 other lesser screenwriting awards and won 2. My Big Fat Greek Wedding is directed by Joel Zwick who won two minor awards for his effort. I feel he deserved more recognition.

The film garnered little attention among the big award givers but did appropriately win the People’s Choice Award for Favorite Comedy. Almost as an afterthought, My Big Fat Greek Wedding won the Best Independent Comedy Film Award from the U. S. Comedy Arts Festival. It would be my pleasure if some of the Comedy Film Award judges were Greek.

There is Greek love throughout this film, from Rita Wilson’s vision to the thousands of Greek Americans who said, hey, this is Greek, this is good. The Greek community really made the film become a box office record-setter while we non-Greeks came on board later and enjoyed the film just as much.

When I left the theater, I went looking for ouzo, the Greek anise-flavored liqueur so celebrated in the film at Greek gatherings. They would down a shot of ouzo and shout “oumpa.”

I married a girl from a very traditional Italian Catholic family. Every Christmas my wife makes Italian cookies with anise-flavored frosting, no wonder I loved My Big Fat Greek Wedding.

Anyone who wants a job watching My Big Fat Greek Wedding should be Greek, love ouzo and love having fun. Others need not apply unless, of course, they might want to be Greek, want to try ouzo, and have fun!

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Sid Miller Wants to Know: What are you voting for?

 

That moment when someone says, “I can’t believe you would vote for Trump”

I simply reply “I’m not voting for Trump.”

I’m voting for the First Amendment and Freedom of Speech.

I’m voting for the Second Amendment and my right to defend my life and my family.

I’m voting for the next Supreme Court Justice(s) to protect the Constitution and the Bill of Rights.

I’m voting for the continued growth of my retirement investments and the stock market.

I’m voting for an end to America’s involvement in foreign conflicts.

I’m voting for the Electoral College & the Republic we live in.

I’m voting for the Police to be respected once again and to ensure Law & Order.

I’m voting for the continued appointment of Federal Judges who respect the Constitution and the Bill of Rights.

I’m voting for our jobs to remain in America and not be outsourced all over again to China, Mexico and other foreign countries.

I’m voting for secure borders and legal immigration.

I’m voting for the Military & the Veterans who fought for this Country to give the American people their freedoms.

I’m voting for the unborn babies that have a right to live.

I’m voting for continued peace progress in the Middle East.

I’m voting to fight against human/child trafficking.

I’m voting for Freedom of Religion.

I’m voting for the American Flag that is disrespected by the “mob.”

I’m voting for the right to speak my opinion & not be censored.

I’m not just voting for one person, I’m voting for the future of my Country.

I’m voting for my children and my grandchildren to ensure their freedoms and their future.

What are you voting for?

About the Source: Sid Miller is the Commissioner of Agriculture in the Great State of Texas.

(Ed’s Note: The current 2020 Presidential Election has been reduced to a choice between our “constitutional republic” form of government and creeping into a “socialist” form of government in America. We should not allow any political party in America to bring advancing socialism—example: The Green New Deal—under the guise of improving our constitutional republic. Every form of socialism as a government in history has failed to advance the welfare of the citizens therein. Smart people know that socialism does not secure our rights as citizens but rather reduces our personal rights to the point where we have none and ultimately end up as a dictatorship.)

Financial Thoughts
on Investing
by Warren Buffett

(Ed’s Note: The following condensation is from The Tao of Warren Buffett, written by Mary Buffett and David Clark and available for sale at Amazon and bookstores nationwide. I am always impressed by what Warren Buffett has to say and am doing this condensation to help promote their book.)

On Investing: Never be afraid to ask too much when selling offer too little when buying.
(Ed’s Note: How much you get from a sale or how much you have to pay when making a purchase determines whether you make or lose money and how rich you ultimately become.)

(Ed’s Note: For more of Warren Buffett’s advice go to the menu bar above and click on Financial Thoughts.)