The 7 cures for a lean purse according to Arkad in the audio book “The Richest Man

in Babylon”

1. Start thy purse to fatten

This is one of the statements or techniques that Arkad stated in the audio book. The
first cure literally means that we people need to pay for ourselves first. This means
that we need to mindful on the way how we save a percentage of our salary. For it is
important to use and spend it in a proper and decent way. Likewise, doing so will
surely make all of us rich in the future as time passes.

The first cure is centered on savings. It shows or educate the people about the
importance of saving a bit of amount from all your sources of income and how it can
help your life as time passes by. In the audio book, it was stated that we people
should save at least 10% of our salaries every month, for compounding indeed takes
time, and the more savings you have, the higher amount you’ll get in the future.
Likewise, this first cure also means that the more time a person save, the better will
be the growth of his/her savings. And for me personally, I can say that this particular
thing indeed is true.

Overall, the first cure in the audio book “The Richest Man in Babylon” is all about
saving a bit of amount from ones’ saving or salaries every month. This thing is
something that can really all of us to become a more successful individual in the
future. By applying this cure in our daily lives, surely we will notice a huge progress
in our lives, especially with regards on how we handle or manage our money. This
cure can really change a persons’ life just by simply applying it daily. And for me, we
should consider practicing this in our day to day living, for this really can help our and
can be our stepping stone in order for us to attain success in the future.

2. Control thy expenditures

This is also one of the statements or techniques that Arkad stated in the audio book.
This cure literally means that we people don’t need to spend our money in things that
we don’t necessarily need. This means that we need to smart and practical on how
we use or spend our salaries. For it is important tfor us to know the things we need
to have and the things we desire to have. Likewise, doing so will surely make all of
us rich in the future as time passes.

The second of the seven cures is a kind of cure that focuses more on education the
people how to control or limit a persons’ expenses. It likewise educates all the
people the difference of the things we want to have over the things we need to have.
In addition, we need to understand that one can only save a part of their income if
and only if they start to limit their daily expenses. We need to spend our money
wisely. Spend it on something that we benefit the most, and not vice-versa.
Overall, I can say that this also is something that we people need to apply in our day
to day lives. The second cure in the audio book “The Richest Man in Babylon” is all
about the importance of spending our money only on the things we really need and
not on the things that we just want to have, the importance of knowing the difference
between the terms “need” and “wants” and so on. By applying this cure in our daily
lives, surely we will notice a huge progress in our lives, especially with regards on
how we handle or manage our money. This cure can really change a persons’ life
just by simply applying it daily. And for me, we should consider practicing this in our
day to day living, for this really can help our and can be our stepping stone in order
for us to attain success in the future.

3. Make thy gold multiply

This is also one of the statements or techniques that Arkad stated in the audio book.
This cure literally means that we people need to invest in it, for a money that is just
being kept is no use at all, and the only thing for it grow is by simply investing in it.
This means that we need to make our money move or invest it in order for it to grow
rather than just keeping it. For it is important for us because this thing really is
something that misleads almost everyone. Likewise, doing so or having this kind of
knowledge will surely make all of us rich in the future as time passes.

The third cure is centered on the importance of investing our money rather than
saving it. For investing our money will make our money grow, and will give us more
and more money, compared if we just let our money stay on our bank account or
simply if we just save it literally. This is the kind of information that all of us should
understand. Because this is something that misleads almost everyone. The kind of
thinking that money will grow if we only save it and not invest it or use it in an
investment.

Overall, I can say that this also is something that we people need to apply in our day
to day lives. The third cure in the audio book “The Richest Man in Babylon” is all
about the importance of knowing the fact that the only way for us to make our money
grow is by way of investing in it rather than just saving it. By applying this cure in our
daily lives, surely we will notice a huge progress in our lives, especially with regards
on how we handle or manage our money. This cure can really change a persons’ life
just by simply applying it daily. And for me, we should consider practicing this in our
day to day living, for this really can help our and can be our stepping stone in order
for us to attain success in the future.
4. Guard thy treasures from loss

Similar to the first 3 cures, this is also one of the statements or techniques that Arkad
stated in the audio book. This cure literally means we need to how to look wisely on
all the possibilities that might affect both our friends and family. This means that we
need to be patient for success and wealth cannot be generated rapidly, in order to
get it, one must have a tremendous amount of patience. For it is important for us
because this thing really is something that misleads almost everyone. Likewise,
doing so or having this kind of knowledge will surely make all of us rich in the future
as time passes.

Sometimes there comes an opportunities which makes a huge profits over a short
span of time. If we think about it, we can get a lot of benefit from it. But this kind of
things might cause us everything if we let ourselves be involve in such things
unconsciously. And from this comes the important of acquiring knowledge towards
this kind of things. For this really can save us during critical situations with regards to
this matter.

Overall, I can say that this also is something that we people need to apply in our day
to day lives. The fourth cure in the audio book “The Richest Man in Babylon” is all
about the importance of having a knowledge in creating good decision towards all
the possibilities that might affect ourselves, our friends and our family. By applying
this cure in our daily lives, surely we will notice a huge progress in our lives,
especially with regards on how we handle or manage our money. This cure can
really change a persons’ life just by simply applying it daily. And for me, we should
consider practicing this in our day to day living, for this really can help our and can
be our stepping stone in order for us to attain success in the future.

5. Make thy dwelling a profitable investment

Similar to the previous cures, this cure is also one of the statements or techniques
that Arkad stated in the audio book. This cure literally means we need to have a kind
of investment that increases its value over a period of time, for having this kind of
investment is indeed is important. This also means that we need to stop renting or
spending our money on some things that is too passive, or something that doesn’t
increase its value as time passes. Having this kind of knowledge really is important
for us because this thing really is something that misleads almost everyone.
Likewise, doing so or having this kind of knowledge will surely make all of us rich in
the future as time passes.

We need to spend our money in a wiser kind of way. It is indeed a good idea to buy
something as a whole and avoid renting. If we can afford to pay the price of that
particular thing, then we should do it, as long as it is the kind of things that increases
its value as time passes, then we should do the thing that we should do, which is to
bought it totally. For renting something it one of the many reason why there are lots
of people who are currently struggling with their financially freedom, this is because
the total amount of money that they have will be eventually budgeted, and some
percentage from this will be used to pay some bills, specifically the bills related to the
rental of that particular thing.

Overall, I can say that this also is something that we people need to apply in our day
to day lives. The fifth cure in the audio book “The Richest Man in Babylon” is all
about the importance of having a knowledge in the benefits of purchasing a certain
thing in a fully paid way rather that in a rental kind of way. By applying this cure in
our daily lives, surely we will notice a huge progress in our lives, especially with our
decision making with regards on how we handle or manage our own money in
transactions. This cure can really change a persons’ life just by simply applying it
daily. And for me, we should consider practicing this in our day to day living, for this
really can help our and can be our stepping stone in order for us to attain success in
the future.

6. Insure a future income

Similar to the previous cures, this cure is also one of the statements or techniques
that Arkad stated in the audio book. This cure literally means that we need to have a
solid job or anything which we can get our income that supports all our need in order
for us to survive day by day. This also means that we need to find any kind of job
that can make ourselves and our family to be financially stable. Having this kind of
knowledge really is important for us because this thing really is something that
misleads almost everyone. Likewise, doing so or having this kind of knowledge will
surely make all of us rich in the future as time passes.

This cure talks mainly about saving money for future expenses. It makes the people
realize that being capable of doing so is not permanent. And since it is not
permanent, we need to save a decent amount from our salary as early as possible
so that when we retire from our service, we won’t be entertaining financial problems
anymore, or if we, then we can handle it easily. This is necessary for us so that we
can enjoy our lives even after we retire from our service or profession. This cure also
puts emphasis to the fact that diversification is an important factor which one should
consider while allocating their respective savings.

Overall, I can say that this also is something that we people need to apply in our day
to day lives. The sixth cure in the audio book “The Richest Man in Babylon” is all
about educating the people to save as early as possible, by applying this cure in our
daily lives, surely we will notice a huge progress in our lives, especially on our
mindset, this will help us answer the question why we need to work hard today, and
the other to this question is the main point of the sixth cure. In addition, this cure can
really change a persons’ life just by simply applying it daily. And for me, we should
consider practicing this in our day to day living, for this really can help our and can
be our stepping stone in order for us to attain success in the future.