Seven Cures for a Lean Purse

The book which I like to share today is The Richest Man in Babylon by George S. Clason. If you have not read this book yet. Then you must pick up a copy from your local bookstore today and it might just make a different in your life forever. The Richest Man in Babylon is a story set in the ancient city of Babylon.

Through The Richest Man in Babylon, subject of thrift, financial planning and personal wealth have been beautifully put forward in different part of the book. This is truly the book that holds the secrets to acquiring money, keeping money and making money earn more money.

I would like to share with you the Seven cures for a lean purse that is found within The Richest Man in Babylon by George S. Clason.

1. Start to fatten thy purse
No matter how much you earn or make, put aside 10% and not spend it.

2. Control thy expenditure
Budget from the 90% and spend on what's necessary. Although, tough initially, but in time, your spending habit will change.

3. Make thy gold multiply
When your purse fatten, it's time to put your money to work for you.

4. Guard thy treasure from loss
Only when you're able to secure your "small" money, then you're able to secure your "big" money. Study carefully before parting with your money, be sure that it can be safely reclaimed.
Do not be misled by own desire for quick profits. When in doubt consult those who are good at handling money for profits.

5. Make of thy dwelling a profitable investment
Instead of renting a house, own it. However, in today's context, it would be to own the house and rent it out for passive income.

6. Insure a future income
Provide in advance for the needs of your old age and also for your family.

7. Increase thy ability to earn
Cultivate own power, to study and to be wiser, to become more skillful such that you'll have the confidence to achieve your carefully considered desires.