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The Cures for a Lean Purse - Episode 304

Feb 15, 2024

Today, we're diving into some timeless financial wisdom from "The Richest Man in Babylon." These are the Seven Cures for a Lean Purse, principles that are just as relevant today as they were in ancient Babylon.

  1. Start Thy Purse to Fattening: Alright, let's kick it off with a simple but powerful idea: pay yourself first. Before you go splurging on the latest gadgets or trendy clothes, set aside a portion of your earnings. Think of it as feeding your financial future. Even if it's just a small amount, consistency is the key.
  2. control your expenditures Put Each Coin to Labour: Every coin should have a job! Don't let your money sit idly. Whether it's through investments or creating multiple streams of income, make sure your hard-earned cash is out there working for you and not just collecting dust.
  3. Make Thy Gold Multiply: Now, we're talking about investing. Take those savings and make them work for you. Explore different investment options, whether it's stocks, real estate, or starting a side hustle. The goal here is to grow your money and let it multiply over time.
  4. Guard Thy Treasures from Loss: We're living in a world with endless opportunities, but not every opportunity is a good one. Be cautious with your investments, do your research, and avoid risky ventures. Protect your treasures from unnecessary losses.
  5. Make of Thy Dwelling a Profitable Investment: Your home can be more than just a place to live; it can be an asset. Consider ways to make your dwelling work for you – maybe it's renting out a room or leveraging your property to generate additional income.
  6. Ensure a Future Income: Time to think about the future. Plan for the future by consistently setting aside a portion of your income. Whether through a retirement account or other investments, make sure you're creating a financial cushion for the days when you decide to kick back and relax. Make sure you buy assets the can provide income for when cannot or no longer want to work
  7. Increase The Ability to Earn: Last but not least, invest in yourself. Focus on enhancing your skills, education, and knowledge. The more you can bring to the table, the more you'll be able to earn. It's an investment that always pays off.Conclusion: So, there you have it – the Seven Cures for a Lean Purse, revamped for the modern age. Take these principles to heart, apply them consistently, and watch how your financial life transforms. Don't just watch your purse grow, make it thrive!

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Highlights

  • How this program can help individuals expand their business, protect their capital, and set up their infinite banking
  • Announcement of an upcoming mini course about the book and the principles it conveys
  • The need to aim for a full bank account as part of financial success
  • The second principle: Control your expenditures
  • Choosing a profitable investment for your home
  • Importance of ensuring future income
  • How to increase your ability to earn
  • Tips to continuously increase your earning capability by providing service and solving problems


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