Published by Argonautica on 12 Jun 2007 at 11:45 am
The Golden Rules for Making Money
The Art of Money Getting or Golden Rules for Making Money by P.T. Barnum (1880) is a classic that shows how solid business and personal finance advice remains timeless.
P.T. Barnum was a bona fide character. Even though he was one of the most successful showmen in history, a shameless self-promoter, and even an occasional politician, Barnum scorned deception and fraud. His The Art of Money Getting outlines his personal rules for running a successful and ethical business as well his tips to succeed in personal finance. I’ve outlined the main precepts below, but that’s like summarizing the Bible by listing the 10 Commandments because it is the anecdotes that make this an enjoyable read.
- Start saving
- Do the type of work most natural to you
- Location, location, location
- Avoid debt
- Don’t give up
- Do it to the best of your ability
- Make mistakes, learn from them, and thereby master your business
- Hire smart and experienced employees
- Learn a useful trade or profession
- Don’t jump from project to project
- Be systematic but not rigid

- Read the news
- Be moderate in investment/speculation outside your field
- Don’t lend without security
- Advertise with traditional methods
- Advertise creatively
- Be civil to your customers
- Be charitable
- Keep your integrity
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