The Fifth Cure For A LEAN PURSE

FIFTH CURE FOR  LEAN PURSE:MAKE THY DWELLING A PROFITABLE INVESTMENT.

If I must recommend one book for you to read, just to be financial free and not to  worry about how much money you spend on what your heart desire, then I would definitely recommend, George S. Classon’s  Richest Man in Babylon.

Definitely , The richest man in Babylon dispense very good financial advice to anyone who has the dream of becoming financial free in later years, this may involve denying instant gratification but it is worth spending your life in abject poverty.

If you have been following this post, I am written a series of post on the Seven cures for a lean purse culled from the Richest man in Babylon and today I would be dealing with the fifth cure  for a lean purse prescribed by  George S. Clason’s book, The Richest man in Babylon. Get ready for a transformation.

“If a man set aside nine parts of his earnings upon which to live and enjoy life, and if part of this nine parts he can turn into profitable investment without detriment to his wellbeing, then so much faster will his treasures grow.” So spoke Arkad to his class at their fifth lesson.

In this lesson , Arkad is telling us to save enough money to build our own home in the future, this is important because if you continue to stay in a rented apartment all your life, it would drain the  amount of money in your purse all your life and you  would not become financially free, in other words, it is the one who has built the house that you are making rich  each and every year.

If you are able to channel an amount of money into building your own home, the return on the investment would be beyond imagination as you would not be directing your hard earned money to your landlord year after year and the house would definitely be available for generations to come if managed properly. If you make your home a profitable investment , it  becomes a source of collateral for you to secure a good loan for other profitable ventures.

Do you know that, it is also possible to hire a part of your dwelling place so you can make money from it and build another asset?

It therefore mean that, if you are planning of increasing the size of your purse,plan to stop the leakages by building your own home.

Now let’s  read what Arkad says,” Thus come  many blessings to the man who owns  his house. And greatly will it reduce his cost of living, making available more of his earnings for pleasures and the gratification of his desires. This then is the fifth cure for a lean purse: Own thy own home”

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

Emmanuel F.Kumah : Guard thy Money from Loss

FOURTH CURE FOR A LEAN PURSE: GUARD THY TREASURES FROM LOSS.

I must thank you for your enthusiasm and patient in reading my series of post on the seven cures for the lean purse as culled from the book, “The richest man in Babylon”. For those who are new to this book,”The richest man in Babylon”  is a must read for anyone who would like to take charge of his financial life as it provides  ancient financial wisdom which are  very relevant today.

Most times everyone that makes enough money is tempted by opportunities that promise greater reward if only they would but channel a few of their earned money into such opportunities. In this post we look at the fourth cure for the lean purse, and don’t forget the book we are reading is ” The richest man in Babylon”

Before  entering into any investment  be it in a financial instrument or partnership , study carefully before parting with your money and be safely assured that at least  your principal can be reclaimed in case the investment go the wrong way. Before entrusting your money to any investment deal ,you need to perform a due diligence on the person or company you are parting your money with. Look at their track record, have they been able to generate a higher return on other people’s investment, what are they going to invest in and what knowledge or experience do they have in their proposed investment sector. It would be unwise to give your hard earned money to a shoe maker to buy you jewels in another country, if the shoemaker has never succeeded in buying jewels for other people which has generated a higher return. You should not give your money  to school teacher to trade in clothing for you if he has not gotten  the skill and the  experience , just because you wanted to make more money and he promised you of a higher return.All  I am saying is if someone ask for money from you to perform a trade, make sure the person has  the relevant experience in that trade.

I would suggest that before, you part with any hard money or decides to start a new business ask for advice , from people  well equipped in that field and pay the cost if you have to ,since it would say you years or regret.

The fourth cure for a lean purse is to : Guard  thy reassure 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.

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 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

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

THE RICHEST MAN IN BABYLON

THIRD CURE: MAKE THY GOLD TO MULTIPLY

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.

THE STORY CONTINUES

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

Emmanuel F.Kumah:Control their Expenditure

  The Richest Man in Babylon

SECOND CURE FOR A LEAN PURSE: CONTROL THEIR EXPENDITURE

Hi , thank you for reading my article and I must recommend that your comments on such issues is very enlightening and give me the impetus  to do more.

So did you save the one-tenth of your earning or you planning to do so? You see my friends,although riches begins with the state of the mind, the best time to begin an important journey is now , so take action now. Today, we would still be drawing useful lessons from George S.Classon, “ Richest man in Babylon’ and we would be looking at the next cure for a lean purse. Hope you are ready to learn from this all time classic book, ‘ The richest man in Babylon”

LET’S CONTINUE FROM WHERE WE LEFT OF:

“Some of your members, my students, have asked me this: how can a man keep one-tenth of all he earns in his purse when all the coins he earns are not enough  for his necessary expenses? So did Arkad address his students upon the second day.

George S. Classon’s Richest man in Babylon suggest that after you have channeled one-tenth of your money into savings or after you have paid yourself first , you need to control your expenditure. It is true that each of us have desires that our current earning cannot afford , however if you want to cure your lean purse so that you can fatten it later, you should learn the “Am budgeting” or ‘doing economics” phrase, as we say here in Ghana?

This where the issue of budgeting comes in , after paying yourself  first, write out all that you would desire to have for the month, select those that are necessary   and others that are possible  through the expenditure of nine-tenths of thy income.Cross out the rest and consider them but a part of that great multitude of desires that must go unsatisfied and regret them not,please restrain yourself from touching the one –tenth that is fattening your purse.

This is then the second cure for a lean purse: Budget thy expenses that thou mayst 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.

 What Next?

Do you have any questions to ask, feel free to drop me your comment and don't forget to share this on facebook you would change someones life.

Emmanuel F.Kumah:The Richest Man in Babylon

The Richest Man in Babylon:Seven Cures for a lean Purse.

Do you want to be the Richest Man in your Country?Then you need to read the Richest Man in Babylon. Undoubtedly, George S. Clason ” Richest man in Babylon” is the foundation of personal finance and a must read book for anyone who is planning of becoming financial literate in a few years to come.

WHY SHOULD YOU READ THIS POST?

In the Richest man in Babylon, George S.Clason dispense a worth of financial tablets to many a people who were willing to take control of their financial issues using ancient wisdom from Babylon,what this post tends to do is to present this ancient wisdom to you in a modern format so you too can take control of your finances. Personally, I think the next greatest thing after a person’s salvation is financial freedom, freedom from the worry of money and freedom to buy all that your soul desires to have and this is definitely what this post from excepts of The Richest man in Babylon ,would seek to do.

I would like to thank you for the strong desire to read this material and obtain a great source of financial knowledge. We would be studying the Seven Cures for a lean purse from his book “ The richest man in Babylon” and I hope you would take step in applying all that is shared here.

LET’S BEGIN WITH THIS STORYLINE.

Arkad, who was considered to be the richest man in Babylon at that time was called upon by the King so he can teach his countrymen how he has been able to acquire such great wealth so they can have some coins dancing in their pockets as they walk along. This he decide to do by proposing seven things which Arkad believe can cure everyone that carries a lean purse. Now, let’s get studying

THE FIRST CURE FOR A LEAN PURSE:START THY PURSE TO FATTENING

“ Now my students ,ye can see that there are many trades and labors at which men may earn coins. Each of the ways of earning is a stream of gold from which the worker does divert by his labors a portion to his own purse… If thou select one of thy baskets and put into it each morning ten eggs and take out form it each evening nine eggs, what will eventually happen?”, “One student answered that; it would be overflowing in time, since that person put in one more egg than he takes out.”
In the first cure, Arkad is recommending that, “For every ten coins that thou place within thy purse take for use but nine” meaning you should divide the earnings from your labor in 10 equal parts and save one –tenth of income whilst you effectively use the remain ninth that is left.
Truth they say is simple, but not all people apply that truth. Here George S. Clason is recommending you to divide your savings or earnings into 10 equal parts spend nine of it and put aside the remaining one of the 10. This means no matter how small your earnings may be you should be able to channel one –tenth of that money into a savings then if this action is done repeatedly would becomes a habit and once those habits develop enough muscles, your purse or wallet would begin to fatten(Increase in size, isn’t that sweet!).
The joy is not in the fattening of the purse in that instant but lies in the development of a lifelong habit of wealth creation. Although the first cure for a lean purse seems very simple, the real issue is,would you do it,? Would you be daring enough to put one tenth of your savings in an account and would you do it consistently till you see a massive growth in your savings? If your answer to such question is yes, you are definitely on your way of becoming the richest man in ‘ Babylon’

What Next?

Well , you have just started off on a journey that would change your state of being and increase your ability to earn and use money effectively, so how has the first cure for a lean purse being? Informative? I would love to read what you thoughts are about this post, just drop me your comment, ok! Feel free to share this on facebook and other social networks it would change someone's life  you can also add me as friend on facebook. See you in the Our next class.