7 Cures to a Lean Purse - 4

Today we will start off our fourth cure to a lean purse with the assurance that you have put into practice the first three cures which are these: 1. Start thy purse to fattening; 2. Control thy expenditure and 3. Make thy gold multiply. For those of you who are joining us for the very first time, I recommend that you read our previous blog post to have a feel of what we are discussing.

So, let’s get to the forth cure to a lean purse.

No. 4: Guard Thy Treasures from Loss:

Misfortune loves a shinning mark. Gold in a man’s purse must be guarded with firmness, else it be lost. The first sound principle of investment is SECURITY FOR THY PRINCIPAL. Study carefully before parting with thy treasure, each assurance that it may be safely reclaimed.

Most often people rush to join the crowd in purchasing an investment policy which they themselves have no idea about and since they lack the financial IQ that goes with that investment, they tend to neglect their investment and most often they lose their money. Nobody seeks advice from a herdsman when he wants to make bread or advice from a cobbler when he wants to make a farm. Therefore to guard your investment from loss, seek advice from those who are well vest in that investment so that you can make an informed choice before parting with your gold.

Ask the right questions to open your understanding. Ask about the risk associated with the investment. Ask about how easy or difficult it will be to liquidate your shares. Ask about the factors that have an impact on the given security’s potential to yield returns. Seek investment research to help bridge your knowledge gap on the current status and future prospects of a given security in an asset class. Ask about the portfolio that scheme managers invest in. Explore all avenues to inform your choice.

The bottom line therefore is this: “Guard thy treasures 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. Secure the advice of those experienced in the profitable handling of gold. Let thy wisdom protect thy treasures from unsafe investments.”

That said and done, let me just say your ability to guard thy treasure from loss will secure your investment and help to free your purse. Stay blessed and practice the lessons espoused here.