Friday, April 15, 2011

Emmanuel f.kumah: The Third Cure for A LEAN PURSE


Hi,for the past  few days I have been sharing with you tips on how to be the richest man in  your country,hope you have been enjoying the conversation ? Well, Just to keep you on track,this is a post on personal financial management culled from one of the greatest book of all time, “The Richest Man in Babylon”. If you have read any of my post on this subject, I am on the third cure for a lean purse as prescribed by George S.Classon.

Arkad said,” I tell you ,my students, a man’s wealth is not in the coins he carries in his purse; it is the income he buildeth, the gold stream  that continually flows into his purse and keep is always bulging”
The third cure for a lean purse as proposed by George S. Classon in his book, “The richest man in Babylon “ is  to multiply or increase the amount of money you have saved.
Money begets money, if you have been following my post  on the seven cures for the lean purse I recommended saving one-tenth of all money you earn , this one –tenth should be accumulated until it becomes a substantial amount of money , you then channel this money into an investment that would cause the money you have birthed  to give birth to other moneys which would intend give birth to more money, in this case you are multiplying the gold you have.
I would quickly have  to add that before you channel  this money into any  financial instruments be very careful you know the return of your investment and are convinced the financial institution can multiply  your hard earned currency. No that money flows- no wonder it is called currency, it  would either flow from you or flow to you , money also rises,no wonder is called dough so be vigilant what ingredient you mix with it or else it shrinks, the choice is always yours.
Making thy gold to multiply is to generate an income that flows to you whether you travel or work , an income that would not necessarily require your presence. Do you think this is possible ?
In 2010 a friend and I devised a brilliant plan that would cause our gold to multiply, we channeled our little financial resources in to a food joint which is run by a successful operator and we have been receiving dividends from the business ever since. One interesting thing is, as long as the business still operates our gold would always multiply.
This then , is the third cure for a lean purse, to put each coin to laboring that it may reproduce its kind even as the flocks of the field and help bring to you income, a stream of wealth that shall flow constantly into your purse.
What Next?
You see information is what you read but transformation is what you do with the information you have received. How have this article been helpful to you? Would someone else benefit from this article? Then feel free to share this on facebook and other social media, and don’t forget to drop me your comment , I would be really grateful to  hear from you. Thanks