|Finding solutions to your lean purse – Image credit: Minority Eye|
“Money make possible the enjoyment of the best the earth affords”
These seven principles are the easiest to follow for those who desire real wealth. Great men wouldn’t show you shortcut to success, they will only show you easy and steady paths to thread in order to attain great wealth. These principles are extracted from a book ‘The Richest Man in Babylon’ written in the 1920s by George S. Clason and still relevant till tomorrow.
The seven cures to a lean purse
These were the 7 lessons Arkad who was said to be the richest man in ancient Babylon taught the Babylonians, historians believed these lessons well learnt transmuted into great wealth the citizens of the great city enjoyed during their existence. This story containing the seven cures for a lean purse and other stories were excavated from the ruins of the great city Babylon.
The author of the book “The Richest Man in Babylon” believed that if these principles worked for the Babylonians then, surely will it work for people during the 1920s and I believe these principles will work for me and others who wants to climb the ladder to great success.
1. First Cure: Pay yourself first
2. Second Cure: Control your expenditure
The second cure lays emphases on how you spend your income, cut down your spending. Do a very feasible scale of preference, prioritize your needs according to their importance or usefulness. It is better to deprive yourself of little things now than deprive yourself of a blossom future. Let the amount you spend be within the remaining 80% left (10% for your payment, 10% for tithe) till another amount comes in. This may be difficult at first, but as time goes on you will fit in pretty good. For family men or women, discuss this with your better halves and embark on the journey to greatness together.
(In case you forget: Adaptation is still one of the characteristics of all living things – that hasn’t changed in Biology)
3. Third Cure: Multiply your savings
4. Fourth Cure: Guard your investment from loss
5. Fifth Cure: Own your own home
The fifth cure teaches us who desired golds in large quantity to acquire our own houses. These will be of great help in helping us to achieve our aims easily. Instead of paying the landlord huge amount every year or every six months, that amount can be used to support one business or investment.
(There is great joy in owning thy own house.)
6. Sixth cure: Secure the future
The sixth cure teaches us to put plans in place for unforeseen circumstances, no one knows what may befall him or her the next few minutes. It is essential that one puts concrete plans in place to cater for unexpected situations such as sudden death or accidents that may limit one ability to work or terminal illnesses – with good future plans in place, wife or husband will be able to move on pretty fine. Old age is another thing should plan ahead for.