Making Money: P T Barnum’s Advice

P T Barnum was one of America's first millionaires, one of the most famous and recognizable men of his time.

He made himself famous globally through his business empire. He also helped his employees and partners become rich, and did it all during difficult times - war, slavery, famine, political upheaval, and economic panics.

His advice on money:

• If you desire to attain independence, you have to set your mind on it, adopt the proper means, as you would do in regard to any other object you wish to accomplish, and you will achieve your desire.

• True wealth consists in always making sure your income exceeds your outgoings (expenses and liabilities).

• You don’t have to be mean and thrifty to be wealthy, saving a half penny where you ought to spend a pound.

• More cases of failure arise from the mistake of spending more than you earn.

• There is more satisfaction in rational saving than in irrational spending; do away with the extravagant lifestyle.

• The real comforts of life cost but a small portion of what you can earn.

• It is the eyes of others and not your own eyes that ruin you. The desire to keep up "appearances" is what keeps your nose to the grindstone.

• It is true that we are born "free and equal", but we are not all born equally rich, and we never shall be.

• You will keep yourself poor by endeavouring to rise to a false standard of perfection set by a handful of people; you cannot get ahead in the world, if your vanity and envy takes the lead.

• It is wise to be a law unto yourself, to live within your means, and lay up something for a rainy day.

• You ought to be as sensible on the subject of making money as on any other subject.

• Like causes produces like effects. You cannot accumulate a fortune by taking the road that leads to poverty.

• The foundation of success in life is good health; that is the substratum fortune; it is also the basis of happiness. You cannot accumulate a fortune very well when you are sick.

• You ought to know that the "sin of ignorance" is never winked at concerning the violation of nature's laws; their breach always brings a penalty.

• To make money, requires a clear brain; it is impossible for you to carry on business successfully with a muddled brain.

That’s all for now from Make Money by Thinking, do call again soon.