"A lean purse is easier to cure than endure."
The famous first words within the book "The Richest Man in Babylon" written by George S. Clason.
This post will lay out the infamous 7 Cures that one of the main characters Arkad taught but applied through the modern lens of crypto! Short and sweet but a cool take nonetheless!
Let's get to it!
The First Cure: Start Thy Purse To Fattening
The very first principle teaches one to save NO less than 10% of all he earns. In the book, it mentions if one was to earn 10 coins he must save a minimum of 1 coin. This will surely fatten his purse over time and this will prove to the Gods themselves which will bestow upon him/her even more coin to be responsible for.
In our case, when you got paid you would put 10% aside for crypto!
The Second Cure: Control Thy Expenditures
Exactly what it says, control your expenses! This one is really all about curbing desires. To sum it up quickly, when you see things you want to purchase and can actually afford but manage to avoid the temptation, you are in tune with the second cure. Another move the universe notices that will grant you more responsibility.
All in all, think of all the things you at one point wanted or thought you needed. Now, how many of them are still around? Most likely, not many and you barely think of them. We often don't REALLY need things, we just want to satisfy ourselves. Next time, say no if you don't NEED it truly and wait to see how you feel moments or days later.
The Third Cure: Make Thy Gold Multiply
Your crypto can make money for you! How though? Why staking or lending it of course! While this may sound like old news to many, for newcomers this is still something that is often overlooked or not taken seriously enough. From 24-hour return bonuses in the same currency to being paid back interests in strictly BTC, different sites allow different returns for different reasons.
Nexo.io you can lend crypto out. Atomic wallet you can stake your crypto. There are way more to count and I don't want to get into specifics here, but just know that while you may be accustomed to holding money and just letting it sit there, you are hugely missing out on the aspect of content creation.
The Fourth Cure: Guard Thy Treasure From Loss
Just because you now have a few dollars to move around in the crypto market from all the time you spent HODLing and putting in your 10% doesn't mean you move it! What I mean is, it is very easy to get swept up in seemingly amazing opportunities that can end in disaster.
When you find a good investment, something you know and trust in (ehem Cardano!) then when you put investments into it, HODL. A lighter pocket through a safe investment provides a restful head at night which is much greater than the opposite!
The Fifth Cure: Make of Thy Dwelling A Profitable Investment
This one is all about putting money where it should go, so you ultimately can have more at a sooner date. For example, you have received your 10 coin or in this case how about 10 ADA so you put aside 1. You have 9 left. Let's say you owe out 5 of these each time you are paid due to debt incurred over time. If you can squeeze it, payout 6 or maybe 7 which will result in you paying down your loans/debts even quicker.
But the lesson/cure doesn't stop there, this section is also about purchasing property if possible. The reason being, this will allow you to have a sense of ownership. Again, this is all about energy and taking personal responsibility for yourself. All of these things bring in the laws of the universe which govern many things more than money.
The Sixth Cure: Insure a Future Income
This cure is all about providing for your future self, ahead of time. Meaning, if you are following the steps above, and begin to acquire larger sums of wealth, you are now recommended to pay for things in advance. Whether it would be a car note, a home payment, rent, credit cards, whatever it may be, having the money set aside in its own right brings about its own form of abundance.
The Seventh Cure: Increase Thy Ability to Earn
Study and become wiser, become more skillful, cultivate your powers. The wise words of the seventh cure. This one is all about attracting more abundance. In order to do so, you must become more. The greater we expand ourselves, the more the universe will bestow upon us and entrust us with.
Well, there you have it, folks! A modern take on a classic financial masterpiece. I hope this brief post can serve you in your future prosperity! Thanks for taking the time to read!