the richest man in atherstone

Earlier today, I was looking back at the origins of my journal and I discovered this post. Written just over two years ago, it describes my financial situation before I started my quest to achieve financial security.

Back then I had £4607.69 to my name (discounting my house and mortgage) from ten years of labour. Actually, this would have been more like £3'500 due to the fact I'd just been paid and the following months expenses would take a big chunk of that cash. I didn't have a clue when it came to my finances and up until then I didn't care much either.

Looking over this post, I had the opportunity to reflect upon the previous two years of my life and how far I had come in that time.

My assets (excluding house and mortgage) now stand at £9'700 - more than double what I had two years ago - and should reach over £11'000 by the end of the year.

This achievement, has come primarily by following Clason's primary tenet in his book 'The Richest Man in Babylon' - namely saving at least 10% of my income. Of course, his other principles have gone a long way to maximising my profits - finding good investments, safeguarding capital and increasing income to name but a few.

I originally created this website to document my progress as I devoted five years of my financial life according to the rules set down in Clason's fables and now I am approaching the half-way point I can look back at the last couple of years with pride.

These days I am a lot more financially-savvy. I enjoy looking after my money and still get a buzz when I see interest deposited in my accounts or earn a little extra income from an idea I've had. Granted, the nine-and-a-half grand I have accumulated is not a lot - I think I'd struggle to survive longer than six months with that - but the knowledge I've accumulated along this path is priceless.

I feel I have a sound foundation to support me as I move on to bigger and better things. The next phase is to create an income for myself and my family without relying on a job. Not a few quid extra spending money but a proper income from multiple streams that will not reduce our standing of living. This phase is imminent.

The birth of our third child has made my 9 to 5 job incompatible with my life. Despite a good remuneration, I am no longer enjoying my full-time job and am frustrated by the inflexibility of the hours. I frequently find that I don't have as much time as I'd like with my wife and each of my children. I can't be the father and husband I want to be and so something more flexible is now a necessity. The only way I can choose my own hours is to work for myself.

So that is what I am going to do.