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Abhinit Kohar

Senior Salesforce Developer

Abhinit Kohar is a professional with over eighteen years of experience in IT, including more than ten years of specialized experience.1 He is currently employed as a Senior Salesforce Developer at News UK.1 Kohar's educational background includes studying at YMCA Institute of Engineering in Faridabad, Haryana, India.1

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Nov 22 · linkedin
Mar 11 · linkedin

Three simple steps to get out of debt

I recently read "The Richest Man in Babylon". One of the best books I have ever read. I wanted to share what I read in there. Here are the 3 simple steps that you can take to get out of debt. These are all taken from this book.

  1. The plan to provide for your future prosperity. Therefore on-tenth (10%) of all you earn shall be set aside as your own to keep.

  2. Seven-tenths (70%) of all you earn shall be used to provide a home, clothes to wear, and food to eat, with a bit extra to spend, that your lives be not lacking in pleasure and enjoyment. But, we should take extra care not to spend greater than seven-tenths of what you earn for these purposes. So, you must live upon this portion and never use more nor buy what you may not pay for out of this portion.

  3. The plan should be to pay of your debts from your earnings. Therefore each month, two-tenths (20%) of all you have earned shall be divided honorably and fairly among those who trusted you and whom you are indebted.

I hope this will help someone who is in Debt.

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Abhinit Kohar
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Location

London, England, United Kingdom