"The Seven Cures of a Lean Purse" - Part 1 of 7

in #money6 years ago (edited)

An excerpt from: The Richest Man in Babylon by George S. Clason

This might be a new topic following my travel posts, but this is also my first post in relation to financial literacy and at the same time book reviews. May you find this helpful and useful.

Have you ever wondered why there are successful people and not successful people? Or why there are people who are rich and not? Cause I did wonder. And in my quest of finding out the answer, I came across with the idea that I am sure it's not accident. It's no accident to become successful and it's no accident to become rich. I am not talking about shaky success and shaky riches, I am talking about those steady and well-built wealth.


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"One may not condemn a man for succeeding because he knows how. Neither may one with justice take away from a man what he has fairly earned, to give to men of less ability."
-Arkad, The Richest Man in Babylon

You see, I realized that at some point, life is not unfair. Life will just give us in proportion to what we have given. We just need to know how to have what we wanted. How to be successful? How to be rich or wealthy? Or even, how to attract money?

In the pages of our history, Babylon is the most glamorous city in which the name itself conjures vision of wealth and splendor. But do you know what made Babylon as mentioned? It's not about the resources it possessed because it only possessed fertile soil and water in the river. Its people made Babylon the richest in the world.


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The question is, how? Well, it all started with Arkad, the richest man in Babylon who had accepted the responsibility to educate his fellow citizens with the things he knew about money. But let me clarify, he may be the richest man in Babylon but he was not born with silver spoon, all the way from being a scribe in the hall of records, he learned the ways on how to accumulate gold and became rich and prosperous. He labored for it. He sought every remedy for a lean purse and found seven.

"It is just practical. That which one man knows can be taught to others." - Arkad

Allow me to share to you the First of the SEVEN Cures of a Lean Purse:

▪️Start thy purse to fattening
For every ten coins thou placest within thy purse, take out for use but nine.


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This is where the idea of "Pay Yourself First" came from. Before paying others, like the bills which we are responsible of, we have to pay ourselves first. It can also mean the 10% that would go to either our savings/investments. Let us fatten our purse, and once it will start to fatten, it will feel good and bring satisfaction to our soul. It may be hard in the beginning, but at the long run, if we'd take it seriously... we can manage.

Disclaimer: Me sharing to you these doesn't mean that I have successfully followed it all, but I am applying it. Well, it doesn't work over night and it won't. It entails sacrifice and discipline. Believing and following these are all up to you.

Thank you so much for dropping by.
Hoping to see you on my next post!

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It's my mindset to think of my family first before spending for myself - no wonder I'm encountering so much financial difficulties now. Thank you @namranna, I'm excited to know the next cures of a lean purse. . .

Yes, I agree with you @caratzky! The mindset you have mentioned is very common in the Philippines. I had that mindset, too. But after I have learned about financial literacy, I have understood and learned that our financial stability is our responsibility. Thank you so much for dropping by. May you follow this series, it would be a great help.

Pay yourself first: One of the most underrated financial golden rules.

We should spend what is left after saving/investing, and not the other way around.
Thanks for sharing this @namranna! You have come up with a finance article which is very entertaining to read! I cant wait for the second cure!!!!

Thank you @smaeunabs! Indeed, this idea is the most underrated. If not underrated, it is misunderstood. They think paying yourself first means, buying that shoes you really wanted or eating in that fancy restaurant. I know it is not bad, but that is not paying ourselves first. It is called rewarding ourselves.
Yes shei, hope you follow this series! It would be a great help in our financial literacy campaign! Thank you!

Exactly @namranna! that's a very good point to emphasize.

Thank you sad kaayo man! I am positive this campaign will eventually enrich our fellows' mindset about finance.

Very interested to follow this series. And let me just say that there was something wrong with my eyes because I read "curse" instead of cures. LOL😄

Thank you @raquelita for reading the first of my series. Heheh yes, the first time I read the book too, I thought it was "curse" instead of cures hahahaha. Oh, I have already posted the Second cure by the way ;) Thank you so much for dropping by!

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