Start thy purse to fattening.
For every ten coins thou placest within thy purse take out for use but nine. Thy purse will start to fatten at once and its increasing weight will feel good in thy hand and bring satisfaction to thy soul.
In other words, spend less than you earn.
Control thy expenditures.
Confuse not the necessary expenses with thy desires. Each of you, together with your good families, have more desires than your earnings can gratify. Therefore are thy earnings spent to gratify these desires insofar as they go. Still thou retainest many ungratified desires.
In other words, most of us will still want “more” no matter how much we earn. So at some point we will need to control our spending.
Make thy gold multiply.
I tell you, my students, a man’s wealth is not in the coins he carries in his purse; it is in the income he buildeth, the golden stream that continually floweth into his purse and keepeth it always bulging. That is what every man desireth. That is what thou, each one of thee desireth; an income that continueth to come whether thou work or travel.
In other words, work to make your money a renewable source — something that itself generates a good income. Save and invest your money.
Guard thy treasures from loss.
Guard thy treasure 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. Consult with wise men.
In other words, you want a decent return, but you don’t need to push it so much that your principal is greatly at risk. Now any investment has some sort of risk, but what they’re talking about is undue risk that could cost you a decent portion of your money. It’s just not worth the risk.
Make of thy dwelling a profitable investment.
Thus come many blessings to the man who owneth his own 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.
In other words, buy a house.
Insure a future income.
The man who, because of his understanding of the laws of wealth, acquireth a growing surplus, should give thought to those future days. He should plan certain investments or provisions that may endure safely for many years, yet will be available when the time arrives which he has so wisely anticipated.
In other words, plan for retirement, and don’t forget to update your will.
Increase thy ability to earn.
Thus the seventh and last remedy for a lean purse is to cultivate thy own powers, to study and become wiser, to become more skillful, to so act as to respect thyself.