The Seven Cures for A Lean Purse

These are very simple and no-brainer steps. Some of you may even laugh at the naivety of these seven steps by today's standards. But ask ourselves, how seriously do we take these seven steps? How consistently do we practice these seven steps in real life before labelling them as being "naive"?

These are my favourite quotes from this chapter. Read and decide for yourselves.

The First Cure - Start Thy Purse to Fattening

"For every ten coins thou placest within thy purse take out for use but nine. Thy purse will start to fatten at once and its increasing weight will feel good in thy hand and bring satisfaction to thy soul."

"Which desirest thou the most? Is it the gratification of thy desires of each day, a jewel, a bit of finery, better raiment, more food; things quickly gone and forgotten? Or is it substantial belongings, gold, lands, herds, merchandise, income-bringing investments? The coins thou takest from thy purse bring the first. The coins thou leavest within it will bring the latter."

The Second Cure - Control Thy Expenditures

"Yet, thou do not all earn the same. Some earn much more than others. Some have much larger families to support. Yet, all purses were equally lean. Now I will tell thee an unusual truth about men and sons of men. It is this: That what each of us calls our 'necessary expenses' will always grow to equal our incomes unless we protest to the contrary."

"The purpose of a budget is to help thy purse to fatten. It is to assist thee to have thy necessities and, insofar as attainable, thy other desires. It is to enable thee to realize thy most cherished desires by defending them from thy casual wishes. Like a bright light in a dark cave thy budget shows up the leaks from thy purse and enables thee to stop them and control thy expenditures for definite and gratifying purposes."

"Budget thy expenses that thou mayest have coins to pay for thy necessities, to pay for thy enjoyments and to gratify thy worthwhile desires without spending more than nine-tenth of thy earnings."

The Third Cure - Make Thy Gold Multiply

"A man's wealth is not in the coins he carries in his purse; it is the income he buildeth, the golden stream that continually floweth into his purse and keepeth it always bulging. That is what every man desireth. That is what thou, each one of thee desireth; an income that continueth to come whether thou work or travel."

The Fourth Cure - Guard Thy Treasures from Loss

"The first sound principle of investment is security for thy principle. Is it wise to be intrigued by larger earnings when thy principal may be lost? I say not. The penalty of risk is probable loss. Study carefully, before parting with thy treasure, each assurance that it may be safely reclaimed. Be not misled by thine own romantic desires to make wealth rapidly."

"Guard thy treasure from loss by investing only where thy principal is safe, where it may be reclaimed if desirable and where thou will not fail to collect a fair rental. Consult with wise men. Secure the advice of those experienced in the profitable handling of gold. Let their wisdom protect thy treasure from unsafe investments."

The Fifth Cure - Make of Thy Dwelling a Profitable Investment

"Then will thy heart be glad because thou wilt own in thy own right a valuable property and thy only cost will be the king's taxes."

"Also wilt thy good wife go more often to the river to wash thy robes, that each time returning she may bring a goatskin of water to pour upon the growing things."

"Thus come many blessings to the man who owneth his own house. And greatly will it reduce his cost of living, making available more of his earnings for pleasures and the gratification of his desires."

The Sixth Cure - Insure a Future Income

"The life of every man proceedeth from his childhood to his old age. This is the path of life and no man may deviate from it unless God call him prematurely to the world beyond. Therefore do I say that it behooves a man to make preparation for a suitable income in the days to come, when he is no longer young, and to make preparations for his family should he be no longer with them to comfort and support them."

The Seventh Cure - Increase Thy Ability to Earn

"Preceeding accomplishment must be desire. Thy desires must be strong and definite. General desires are but weak longings. For a man to wish to be rich is of little purpose. For a man to desire five pieces of gold is a tangible desire which he can press to fulfillment."

"Desires must be simple and definite. They defeat their own purpose should they be too many, too confusing or beyond a man's training to accomplish."

"As a man perfecteth himself in his calling even so doth his ability to earn increase."

"The more of wisdom we know, the more we may earn. That man who seeks to learn more of his craft shall be richly rewarded."

"...to cultivate thy own powers, to study and become wiser, to become more skillful, to so act as to respect thyself. Thereby shalt thou acquire confidence in thyself to achieve thy carefully cosidered desires."

There is more gold in Babylon, my students, than thou dreamest of. There is abundance for all.