28/02/2022
SEVEN CURES TO A LEAN PURSE
Sometime during the lockdown, I picked up George S. Clason's The Richest Man In Babylon...
Despite being written almost a century ago, the financial advice the author provides through parables is still very much valid today.
In one of the stories...
Clason outlined 7 solutions to increasing your income and attaining financial freedom.
He called them the 7 cures to a lean purse...
1) "Start Thy Purse To Fattening" : Say after me, 'A part of all I earn is mine to keep'.
It could be as little as 10%...
Save it.
2) "Control Thy Expenditures" : Basically, have a budget. Distinguish between wants and needs.
Spending more than you earn is the first step towards being broke.
3) "Make Thy Gold Multiply" : Invest! Invest! Invest!
Make your money, make more money for you.
4) "Guard Thy Treasures From Loss": Invest wisely.
Ensuring the security of your principal is a rule of thumb when it comes to investing.
5) "Make of Thy Dwelling a Profitable Investment" : Build or buy a house.
This will drastically reduce your living costs.
6) "Insure a Future Income" : Provide a sustainable source of income for your future when you get old and for your family.
7) "Increase Thy Ability to Earn" : Invest in yourself.
Read Books...
Take Courses...
Learn new skills...
Unless you're lazy, investing in yourself can never be a loss.
Times might have changed, but the principles for creating wealth hasn't.
I hope you learnt a thing or two...
Let me know in the comment section🙂