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The Seven Laws of Money

Phillips, Michael
Publisher:  Random House, Menlo Park California, USA
Year Published:  1974  
Pages:  194pp   ISBN:  0-394-70686-2
Library of Congress Number:  HG221.3.P5   Dewey:  332.024
Resource Type:  Book

A book that tells you how to live with money; how to get it, care for it, forget about it.

Abstract:  The Seven Laws of Money is a book "that tells you how to live with money; how to get it, care for it, forget about it." Phillips work discusses many of the worries and complications individuals encounter trying to balance their budget between daily life, small businesses and projects. The author, through experience working in financial institutions and with organizations, provides advice to readers about the role of money and how they can benefit from thinking differently.

Often money is a barrier preventing people from maximizing their efforts towards a particular project or organization they are working with. Sometimes the goals and objectives can be swayed by money becoming the main focal point of attention. For example, if someone has an idea or community project they wish to pursue, such as the building of a free school or community centre, money becomes a barrier and an obstacle.

One of the laws Phillips preaches believes that if the idea is right, money will follow. By separating money from the goals of the objective, he believes that the project will benefit by allowing people to focus their energy in different areas rather than only focusing on the monetary aspect. He believes that looking at money from a logical angle often discourages growth and draws attention away from the project itself. Phillips also understands that his ideas are theoretical and do not guarantee success, but understanding the philosophy behind his laws help to allow readers to focus their attention on what really matters to themselves and their ideas.

The Seven Laws of Money attempts to teach people to look beyond money and see the true impact of their ideas, socially, politically and personally. It is not money that really matters, but the idea, the objective and the overall goal. As Phillips believes, "Money itself cannot accomplish their goal; only the people themselves can accomplish it."

[Abstract by William Stevenson]

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