The 7 Cures for a Lean Purse (Thin Purse): Timeless Money Lessons
How ‘The Richest Man in Babylon’, a 100 years old book still solves today’s money stress
Quick Summary
The Richest Man in Babylon - Part 2. The timeless cures are:
Save at least 10% of your income - pay yourself first.
Control expenses - don’t let lifestyle inflation eat your money.
Invest savings - make money work for you.
Avoid risky traps - protect wealth from loss.
Own your home - build an asset, not just pay rent.
Plan for future income - insurance + retirement planning.
Invest in yourself - skills are your best asset.
Bunny barged into my room after looking at his salary slip and realizing, it got vanished into rent, EMIs, online shopping, F&O Trading and food delivery apps.
“Uncle!” he cried, “Why do I work like a donkey and still feel broke? Every month I earn… but my purse is leaner always and I am left with No Money!”
I smiled, stirred my Tea, and said:
“Bunny, you are not alone. Middle-class has one common disease: ‘Lean Purse Syndrome.’ But don’t worry, I have the prescription. It’s not from me, it’s from George S. Clason. Writer of the book: The Richest Man in Babylon.”
Our Characters
Hero: Bunny (panicking about money).
Guide: Investing Uncle (me, your calm, comic guide with Tea in hand).
The Problem
“Uncle, my money disappears like water in Thar Desert. Every single Rupee just evaporates. Will I ever become rich?”
Uncle listens
“Bunny,” I said, “there was once a man in the ancient city of Babylon who asked the same question. The answer came as Seven Cures for a Lean Purse.
These cures worked in Babylon, they’ll work in Delhi, too. Let me walk you through.”
The Seven Cures for a Lean Purse
Start thy purse to fattening
“Bunny, before spending, save at least 10% of every rupee you earn. Pay yourself first.”
Bunny: “Uncle, but how will I survive?”
Me: “Bunny, you already survive on 100% of your salary. You’ll also survive on 90% or even 80%. That 10-20% is your seed for Wealth creation.”
Control thy expenditures
“Don’t confuse wants with needs. Every raise doesn’t mean a bigger phone, fancier dinner, or a car upgrade.”
Bunny: “But Uncle, I work hard… shouldn’t I enjoy?”
Me: “Enjoy, but wisely. A budget is not a jail - it’s your Prison Break Plan. Control spending today to enjoy guilt-free tomorrow.”
(Read: Needs vs Wants: Master This One Rule to Save Big)
Make thy gold multiply
“Money should not sit like a lazy son on the sofa. It should work like a hardworking migrant in Mumbai or Bangalore. Invest it.”
Bunny: “But where, Uncle?”
Me: “Good question! Remember our earlier chat on Debt Mutual Funds? That’s one calm way to start. Slowly, you’ll learn equity funds too. The point is - don’t let your savings sleep. Put them to work.”
Guard thy treasures from loss
“Don’t give your money to shady schemes or cousin’s business idea of importing flying scooters or investing in Penny Stocks or Trading.”
Bunny: “So, no get-rich-quick scheme?”
Me: “Exactly.”
Make of thy dwelling a profitable investment
“Stop paying rent forever, Bunny. Own your home someday. EMI feels heavy now, but later you’ll have a roof.”
Bunny: “But Uncle, houses are expensive!”
Me: “True. Don’t rush. But plan. Because home loan EMI at 35 is better than a rent at 65.”
Insure a future income
“Life is uncertain. You must protect your family. Get term insurance. Plan for retirement. Otherwise, Bunny will become burden Bunny.”
Bunny: “Uncle, insurance feels like an expense.”
Me: “It’s not an expense, it’s an umbrella. You complain when umbrella costs Rs.500, but you’ll bless it when the rain comes.”
(Read: Should You Buy Insurance Before Investing Your Money?)
Increase thy ability to earn
“Your biggest asset is not your mutual fund, it’s YOU. Upgrade skills, learn more, grow in your career.
More skills = more salary.”
Bunny: “Uncle, so I’m also like an investment?”
Me: “Exactly, Bunny! You are your best SIP.”
Benefits Seen
Bunny sat back, eyes wide. “So Uncle, if I do these seven things, I won’t always feel broke?”
I nodded: “Bunny, these seven cures are like medicine. Slow to act, but life-changing. The purse fattens. The heart calms. Money becomes your servant, not your master.”
Bunny’s Transformation
Bunny grinned: “From tomorrow, I’ll save 10% minimum, cut the useless spends, start investing in mutual funds, and upgrade my skills. One day, I’ll be ‘The Richest Man in Delhi’”
I smiled, “Just remember what we have discussed above throughout your life, and I am sure, You’ll do just fine.”
Dear reader, if Bunny can learn, so can you.
Start small. 10% savings, a little investing, a little control. Slowly, your purse fattens. And who knows?
You might actually become ‘The Richest Man in Your Colony / Area / Town / City / State / Country.’
“Money grows only when you start treating it like a seed in your own farm.”
Drop your thoughts in the comments below, share this with a friend who keeps complaining about salary, and don’t forget to subscribe.
See you next Sunday at 09:15 AM.
Read The Richest Man in Babylon - Part 1
Read The Richest Man in Babylon - Part 3
Hope this blog adds real value to your long-term investing journey.
If YES, maybe treat Uncle with a cup of tea?
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Any person referred to in this post is purely coincidental. The characters, names, and situations mentioned are for illustrative and educational purposes only and are not intended to represent any real individual.
‘Investing Uncle’ is NISM Series V-A Certified (Mutual Fund Distributor’s Certification Examination) conducted by National Institute of Securities Markets (NISM).
Investing Uncle is not SEBI/AMFI Registered.