Save Thy Gold: Seven Foolish Expenses to Banish from Thy Kingdom

Greetings and Happy New Year, noble lords and ladies of financial fortitude! As sovereigns of our coin-filled realms, we must guard the treasury from plunder—especially by our hands. Let us journey through the seven most grievous financial follies that threaten to drain our coffers faster than a dragon's fiery breath or a gold digging consort. IN OTHER WORDS: STOP SPENDING YOUR COIN ON DUMB STUFF.

Garments of Gold (Expensive Designer Clothes)

Ah yes, the allure of silk cloaks and embroidered tunics bearing the crest of renowned artisans! Yet, methinks 'tis unwise to empty the royal vault for garments that serve but a fleeting vanity. Why, loyal peasants care not for thy Gucci greaves or Prada petticoats. Better to don modest yet sturdy attire, saving thy coin for future endeavors worthy of a king or queen.

Enchanted Devices (Overpriced Tech Upgrades)


Lo, the bards sing praises of the latest enchanted mirrors (smartphones) and alchemical scrolls (tablets), yet their charms differ little from the artifacts already in thy possession. Unless thy current gadget hath perished in battle, or fell into the royal chamber pot, resist the temptation to fill thy castle with shiny but unnecessary baubles.


Interest Paid to the Moneylenders (Credit Card Debt)


Beware the wily moneylender who doth thrive on compounding thy interest! Paying only the minimum tribute to these rogue, Iron Bank-types shall leave thee in perpetual servitude. Slay this financial dragon by repaying thy debts posthaste or avoiding their cursed cards altogether.

Ghostly Subscriptions (Unused Memberships)


The dungeon of forgotten subscriptions is a dire place indeed. Old parchments promising streaming delights, fitness access, or premium pigeon posts may silently siphon thy wealth. Conduct an inquisition of thy recurring charges and banish those that no longer serve thy noble purposes.

Tickets to the Jester's Lottery (Lottery Tickets)


The court jester's promise of untold riches is but a trick! The odds of winning gold enough to fill a treasure chest are slimmer than finding a unicorn in the royal gardens. Invest thy coins wisely, for fortune favors, not the fool.

The Convenience of the Squire (Food Delivery)


Summoning thy meals via squire (delivery apps) may seem a delightful luxury, yet the cost is steep. Dost thou truly require a roast chicken delivered posthaste at triple its worth? Methinks a trek to the marketplace or a feast prepared by thine own hands better serves thy budget and thy waistline.

Gleaming Chariots (Brand New Cars)


Why dost thou covet a chariot fresh from the blacksmith's forge when a gently-used one shall suffice? New steeds swiftly lose value, leaving thee poorer in purse and spirit. Let another noble take the first blow of depreciation while riding gallantly in a pre-loved carriage.


The Kingly Decree for Saving Thy Gold


To rule thy finances with wisdom, practice these prudent habits:

  • Track your expenses as a meticulous scribe.
  • Delay impulsive purchases with the 30-day rule.
  • Live below thy means, for thrift is the mark of a wise ruler.
  • Question every expense as though thy kingdom depended upon it.

By avoiding these seven follies, thou shalt preserve thy kingdom's riches and secure a future as grand as the bards' most glorious tales. Now go forth, my liege, and may thy treasury overflow with abundance!


May thy kingdom flourish and thy coffers overflow in the year ahead—huzzah and Happy New Year!


Omar Sanda


References

  1. Ballou, J. M. (2019). Financial literacy for the everyday knight: Building wealth and avoiding common money pitfalls. New York, NY: Crown Publishing.

    • A practical guide to managing finances with humorous analogies to medieval times.

  2. Davey, R. L. (2021). Frugality in the modern age: Lessons from the past. London, UK: Routledge.

    • Explores historical and cultural approaches to saving money, offering insight into minimalist living.

  3. Consumer Financial Protection Bureau. (2023). Credit card use and the cost of debt: A report on financial habits. Washington, DC: U.S. Government Printing Office.

  4. McCarthy, A. (2020). "The psychology of subscriptions: Why we forget to cancel." Journal of Behavioral Economics, 15(4), 456-469.

    • Examines why people maintain unused subscriptions and strategies to mitigate financial waste.

  5. National Endowment for Financial Education. (2022). Budgeting basics and avoiding impulsive purchases. Retrieved from https://www.nefe.org

    • Offers resources on budgeting, including the 30-day rule for reducing emotional spending.

  6. Statistics Canada. (2021). The lottery and low-income households: A statistical overview. Ottawa, ON: Statistics Canada.

    • Retrieved from https://www.statcan.gc.ca
    • Highlights the disproportionate participation of lower-income households in lottery spending.

  7. Goodman, R. S. (2023). Drive smarter: Financial wisdom for car purchases. Boston, MA: Beacon Press.

    • Discusses car depreciation and strategies for making financially sound vehicle purchases.

Further Reading

  • Ramsey, D. (2019). The total money makeover: A proven plan for financial fitness. Nashville, TN: Thomas Nelson.

    • Provides actionable steps to get out of debt and build wealth.

  • Siegel, J. J. (2020). Stocks for the long run: The definitive guide to financial market returns and long-term investment strategies. New York, NY: McGraw-Hill Education.

    • Focuses on long-term investment strategies to build wealth sustainably.

  • Fisher, K. L., & Statman, M. (2021). Behavioral finance: Insights for wealth building. New York, NY: Wiley.

    • Explores psychological barriers to smart financial decisions and offers strategies to overcome them.

  • Thaler, R. H., & Sunstein, C. R. (2009). Nudge: Improving decisions about health, wealth, and happiness. New York, NY: Penguin Books.

    • Examines how small changes in decision-making processes can lead to better financial outcomes.

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