7 Cures for a Lean Purse

After days of holiday celebrations, gift-giving, eating like there’s no tomorrow. Not to mention endless trips to the mall, I already feel like a mall rat! Side trips that are not planned, the reunion of some sorts with friends, and of course supporting our local industry by watching a movie. What a holiday it has been!  Those that received their thirteenth-month pay are happy for having a lot of moolah to use, to do all the things I enumerated above.  Oh yes! Some felt like 24-day millionaires!

I am an Entrepreneur, and a serial one at that! I have a couple of projects I juggle here and there and I have my passive income and income that I generate through my businesses. Also, I have businesses that need money in order to sustain itself.  So like most of the employees who are glad we are back to work, despite the managed chaos called Christmas and New Year’s Eve, I am more than happy to be back in business!

For those that have emptied their pockets and have exhausted their savings in order to celebrate, “instagrammable moments” and “facebook likeable feed shares”.  Let me share my go-to Financial Adviser in the name of George Clason when times like this happen.  George Clason is a 1926 author who wrote the classic book, which I read all the time when I need to focus, his book consists of 8,000 parables compiled some thousands of years ago. Until today, his work is as relevant as it was during his time.

Assuming that you have broken the bank and are ready to save again with the 52-weeks challenge, I salute you for taking the very step. I myself am doing it now, so it is time to work and tighten our belts!

In George Clason’s book “The Richest Man in Babylon “ the first chapter tells a story about  Arkad  ( Now the Richest Man in Babylon ) and how he is taught by a moneylender how to get rich when he was still working as a scribe-  by saving money, making money, and making money work for you.  Sounds interesting right?!

Are you ready? Let’s do this together in order for us to get back on track in our road to Millionairehood! Well before we get ahead of ourselves and go off-topic, let me share the 7 cures for a lean purse found in Chapter 3 of the book where Arkad is summoned by the King to teach his constituents how to handle money for 7 days.  

The first cure – Start thy purse to fattening! – yes in order to make money we need to first save money. It is advised that we keep one-tenth of what we make in order to do the things we will later want to do in life.

The second cure – Control thy Expenditures – Much as you would like to use the money you have saved up, do not ever be tempted! Think, would you rather buy all the 5 colors available of the dress on sale at Uniqlo for 799? Or would you rather pass it up for the business of your dreams?!   

The third cure – Make thy gold multiply for you – Once you have enough money and have mastered the art of saying no to spending. Find out what you are really good at and what you are passionate about, then use that knowledge in order to open a business. Word of caution, do not copy others who are doing well with their business! You are different and we all have our special skills and talent, focus on what you know and what will give you enough success or will keep you going when times are tough!

The fourth cure - Guard thy treasure against loss – Sometimes people that see you have money will tempt you to invest in what they are doing to get instant money, or in other things such as pyramid schemes or perhaps you look for other money-making opportunities.  Not that I am negative but you are encouraged to do so if you have extra, however, do not invest in businesses that you do not understand at all or have no idea how you will run it. Your chances of losing money are about 90%.

The fifth cure - Make thy dwelling a profitable investment – Once you have the habit of saving 10% of your income, have a business running, and have managed your first losses and have recovered from it because this thing happens and we need the strength to muster in order to survive losing money. You can now finally buy a place for your family in order for you to feel a sense of security and safety. Make your place one that will appreciate when you ever want to sell it.

The sixth cure -Insure a future income – Once you have a business and a house you can now invest in your families health insurance, life insurance, retirement and other things that will make life such a bliss!

The seventh cure -Increase thy ability to earn – Once you have achieved all the six or even while doing the first one, I suggest that you seek to educate yourself. Read books, take some courses, enrich yourself with what there is that will make you the best you can be! Billionaires and Millionaires read a lot!  So it is not so bad to be in good company with them! Lastly, always be positive! When you fail try again and fail forward! We do not have a deadline in life but we sure do have goals we want to achieve. And again just like what Arkad reminds us in his book “ A part of what you own is yours to keep!”. Let me help you achieve them as we do it together this 2020 with a crystal clear vision.

About the Author: Alexis is the owner and founder of Yes Tech. As an Educator, she has devoted over 20 years of her life serving students through development of quality education. Yestech was created in order to assist Educators in bridging the learning gap that technology has created.