According to Buddha’s guide to wealth creation, wealth building should be done patiently and gradually. How appropriate this advice is, especially in these modern times where we frequently see wealth builders make and lose very quickly in risky financial ventures, and many other people being duped and swindled of their savings by shady get-rich-quick schemes!
One who is wise and morally upright,
Shines like a fire on a hilltop,
He or she builds wealth patiently bit by bit,
Like the way bees gather honey.
In this way riches will be steadily accumulated,
Like an ant-hill that grows high.
Buddha’s guide to wealth creation should be done in accordance with Right Livelihood in Noble Eight-Fold Path. This simply means that occupations involving killing, the sale of animal flesh, and trading in humans, weapons, poisons and intoxicants should be avoided.
Wealth builders who build up his or her assets slowly and patiently is usually more stable and last longer. The wealth accumulated should be divided into four parts and used as follow:
One part should be spent on ourselves and our family, with a portion for charitable purposes.
Two parts should be used for continuous wealth building, such as by investing in our business so that it will remain viable and continue to provide a constant and ample flow of income. In the modern text, these two parts may perhaps be used in stable long-term wealth creation.
The last part should be set aside as savings for rainy day. Misfortune may strike at any time, and wealth builders should always be well prepared for it.
These are all particularly good reminders as we are nowadays constantly bombarded by the media fueling our greed for easy and fast wealth building methods, and making us crave for frivolous, expensive and ultimately useless possessions. Because of this, many people spend unwisely and get into excessive debt which results in financial difficulties. This of course will likely lead to domestic and marital problems, bankruptcy and even crime.
Thus while the Buddha’s guide on wealth creation may appear simple and conservative, it can be a constant reminder which if followed, will have a significant and positive impact on the financial well-being of most people, eventually leading to lasting prosperity and a happier life for yourself and your family too.