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Increase your wealth :Seven Cures for a Lean Purse

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By Arun Dahal Khatri

"The richest man in Babylon" is one of the greatest classical financial books ever written. Georges. Clason mentions the greatest secrets of the financial success of ancient Babylon. From the book, we can get numerous knowledge about personal finance.
If you want financial success and to achieve your financial goal then this book is your perfect choice. It has a great story and logical strategies about the saving, investment, and expenditure rules. The author has made a strong foundation for financial success and makes magnificent ideas about becoming wealthy.

Here are 7  lessons that will be useful to become financially independent and wealthy

1- start thy purse to fattening
The first idea from the book is the “rule of saving”.If you save 10% of your income continuously then that will make a great change and help you to bring financial success in the future. Here, consistency is one of the most important ideas. Each time you are saving your porting (10%)you will continuously welcome prosperity. The leading idea of the start thy purse to fattening is “for every ten coins I put in, to spend but 9”

2-control thy expenditures
One of the greatest challenges in finance is controlling expenditure. It's okay to expense but you have to choose the needy sector. The second theme of “Seven Cures for a Lean Purse” is to control expenditure. If you continuously control the expenditure then obviously that will change the pattern of your expenses and help you to become rich. In the Story of Arkad, the richest man in Babylon clearly stated that controlling expenditures makes a huge difference in becoming prosperous.

3-make the gold multiply
The third idea of “Seven Cures for a Lean purse “ is to multiply the gold that you own. Only saving is not enough to achieve financial success. To become wealthy and financially independent building sustainable wealth and multiplying also play a significant role. The ideal quote from this idea is “ the man wealth is not in the coins he carries in his purse; it is the income he buildeth, the golden stream that continually floweth into his purse and keep it always bulging”

4-guard thy treasures from loss
Risk is one of the most appearing items in investment and overcoming it is one of the significantly important tasks to increase and get financial success. From the loss of Arakd, we have to learn that we have to invest if our principal amount is safe. It is more relevant in today's time that most of the investments made by people are getting at risk because of our different factors. Therefore, if we want to become wealthy like Arkad then we have to follow this principle and guard our treasures against loss.

5-make of thy dwelling a profitable investment
The fifth idea of “seven cures for a lean purse” is to make thy dwelling a profitable investment. Arkad suggested that buying idea is wiser than renting the property and everyone should own thy own home to become wealthy. The idea is that buying a home can reduce the cost of living and make available some wealth for different life purposes.           

6- insure a future income
Uncertainties are unknown and they can happen anytime anywhere. We cannot eradicate the uncertainties but we can overcome and decrease them. Investment risk can appear anywhere but we have to be ready to control the risk and secure our income. Insurance is one of the most important parts of our life because it gives us relief from the financial burden and protects us from different types of uncertainties. Insurance not only protects us from risk and danger but also makes us financially strong without losing huge wealth.

7- increase the ability to earn
The seventh purse is to increase the ability to earn. To become wealthy and financially independent, increasing the source of income also plays an important role. It helps to cover the overall financial statement and also overcome financial obstacles. Book clearly states that the people who want precious financial gold must increase their source of income and the ability to earn. Knowing and identifying the new skills play a role to increment the overall income level. The more we know the more we get the chance to earn. Therefore, a person seeking to live a prosperous life must have a great enthusiasm to learn and earn more.