This concept is still crazy to me yet makes so much sense. The principles from “the richest man in Babylon” still reign true today. Please allow me to be straightforward before I begin.

I read this book years ago, but I am just now applying the principles. It takes a conscious effort to undo bad habits.

I believe that every entrepreneur especially should apply this principle. If you are of the Christian faith, then you understand giving 10% of your income to God. If we are honest and unaware of that, most people will begin to pay their bills. 

I believe in giving back to God for allowing us to create wealth. I personally give to my church because I know where the finances are going and what they do for kingdom work. We also give in other ways that do the same. I didn’t always do this, but God began to make my heart tender. 

I was on a trip to Ohio, and I started reading this book. I was like, “Wow, I should be paying myself, huh?” It made perfect sense and I knew that I should try to apply it right then. I honestly tried it and used the money almost weeks after I applied the principle. I begin to realize that this is a healthy habit that I was not used to. 

I recently started paying myself again. It is not an easy principle because it is foreign, but it is necessary. This money can be used for so many things, including eventually investing in stocks and bonds, and buying real estate, just to name a few.

Generational wealth is simply assets, stocks and bonds, real estate (and so forth) that can be passed down to children or grandchildren. Who would argue that this isn’t an amazing thing? I wholeheartedly believe in generational wealth. There is an astonishing 91% of self-made millionaires who have passed down generational wealth. This is good news. The challenge is how do we pass down the information for our families, without squandering generational wealth? 

My grandfather left my father with nothing. My father was determined to have a different outlook on money. He disciplined himself and saved over $100,000 and taught himself how to do stocks.  My dad had discipline at an early age that I am just adopting later in age. I wish I would have grasped this when I was younger, but I was hardheaded. 

God has given me the ability to create and sell. I have made a lot of money and lost a lot of money. The main reason I lost a lot of money is because I didn’t ground myself in key financial areas. Discipline and knowledge is important; currently, I am in the season of grounding myself in financial literacy. What would be the point of making $10 million and losing it all because of lack of discipline and knowledge? My dad was key in certain seasons when I needed $10,000 here and there. I appreciate those moments more than he knows, even though I hated asking.

I have one granddaughter, named Arie. When she was born, I was already an entrepreneur. I created an Unapologetic for Kids apparel line so that she could have something when she gets older. My goal is to immerse her in financial literacy. I would do her more harm than good if I was able to pass down a million dollars without her being ready for it. We have to make sure we are training up the next generation to be financially responsible.