Hi there! No new apps to share with you guys in this post, but I’d like to drop this parable about wealth here.

The Monk & The Minister Parable:

Two close boyhood friends grow up and go their separate ways. One becomes a humble monk, the other a rich and powerful minister to the king.

Years later they meet up again.

As they catch up, the minister (in his fine robes) takes pity on the thin, shabby monk. Seeking to help, he says: “You know, if you could learn to cater to the king you wouldn’t have to live on rice and beans.”

To which the monk replies: “If you could learn to live on rice and beans you wouldn’t have to cater to the king.”

Credit to J.L. Collins, author of The Simple Path to Wealth for this one. I highly recommend checking out his blog here.

Most people fall somewhere between the minister and the monk. Now, I’m not saying we should all live on rice and beans, that’s a bit extreme. But we could all benefit if we channel a bit of the monk and spend a little less on luxuries, collectibles, memberships and other excesses here and there. It’s long been known that the real trick to long-term wealth is to simply spend less than you make.

A lot of the apps, sites, and platforms that I talk about on My Idle Income would play well into a ‘monk-lite’ lifestyle. For example, you could set Prolific earnings against a monthly expense, or household bill. My partner uses her earnings from the site to pay for her gym membership!

For luxury purchases, a couple apps that reward you with Amazon gift cards go a long way. I bought a coffee machine last year(!) using the Amazon rewards I earned from SavvyConnect, Nielsen, UpVoice, and Panel App. You could even use cashback apps like Quidco, or receipt-scanning apps like ReceiptHog to reduce your spending even further.

Anyway, it’s just something to think about. See you in the next post. Until then, happy monking!