The Buddha's Guide to Peace and Happiness
1. Basic Morality
2. Building and
    Managing Wealth
3. Protecting Assets
    and Wealth
4. False Friends
    and True Friends
5. Protecting
6. Qualities for

How to Accumulate Wealth
1. Material Wealth
    and Progress
2. Spiritual Wealth
    and Progress

How to Avoid Downfall
1. Material Downfall
2. Moral Downfall
3. Spiritual Downfall

A Life of Blessings
1. The Essential
2. The Supporting
3. The Personal
4. The Higher
5. The Supreme


The Buddha’s Guide to Peace and Happiness

The Sigalovada Sutta

3. Protecting Assets and Wealth 

Six Ways of squandering wealth to avoid

Indulging in alcohol and drugs which cause loss of self-control
Overspending and immediate loss of wealth
Increased quarrelling and hostilities
Susceptibility to illness and disease  

Unsavoury and bad reputation
Shameless behaviour and indecent exposure
Foolishness and weakened intellect

Roaming the streets, staying out late at night
Being vulnerable to danger
Spouse and children are exposed to risk
The home is unprotected and insecure
Being suspected of crimes
Being subject to rumours and gossip
Meeting with many troubles           

Frequent partying and always looking for entertainment
Leisure and having a good time are fine in moderation.  However, an individual used to frequent partying and entertainment will always be thinking in the following manner, to the detriment of family and work :

“Where’s the dancing?”
“Where’s the singing?”
“Where’s the music?”
“What’s on the movies?”
“Who’s in the shows?”

Compulsive gambling
Winners are resented and even hated
Losers grieve over losses and regret their actions
Savings, hard earned wealth and inheritances are lost
One’s word is considered less reliable in public or in court
One is held in disdain and contempt by friends and relatives
One is not sought after as a marriage partner

Associating with bad company
Befriending and associating with rogues
Befriending and associating with drunkards
Befriending and associating with drug addicts
Befriending and associating with cheats and swindlers
Befriending and associating with thugs and ruffians

Being idle and lazy
Having lots of excuses for not working :
It is too cold
It is too hot
It is too late
It is too early
Being too hungry
Being too full
Duties and responsibilities are neglected.  One is unable to accumulate wealth, and is incapable of supporting self and family.  Any fortune and savings will soon dwindle away.


Most of these points are self-explanatory but a special mention should be made about intoxicants.  The Buddha advised very strongly against such substances many times in this discourse and in other important teachings too.  This is especially relevant nowadays as we see so many people, rich and poor, famous and obscure, causing themselves and others such enormous harm by abusing alcohol and illegal drugs. 

Furthermore, frequent and excessive drinking is usually accompanied by a host of other expensive, and usually immoral and unhealthy activities which lead to many other personal, health and financial problems.  Also, drink-driving and drug trafficking are these days, among society’s most dangerous and destructive crimes. 

These are the six sure ways of losing our wealth and savings.  Engaging in these activities will have many other harmful consequences for both the individual and society too.  A rational person would surely wish to protect what he or she has worked so hard to build up.  Financial stability will be assured by simply avoiding these six activities.  Peace and happiness will follow, and so too will prosperity.


In summary :
Although there may be many ‘good-time’ friends, and people who outwardly proclaim their friendship, a true friend is one who remains close-by in times of hardship. 

One will be ruined by these six things : sleeping late, adultery, hatred, aimlessness, harmful friends, extreme stinginess.

One will suffer not only in this life, but also in the next, if he or she has evil friends and companions, and spends time doing evil.

One will be destroyed if he or she indulges in the following six things : gambling and promiscuity, drinking and being obsessed with singing and dancing, sleeping by day, aimless wandering at unseemly hours, keeping harmful friends, utter stinginess.

One who takes delight in gambling, drinking, adultery, associating with low-life and avoiding the wise, will surely go to waste.

One who goes from place to place drinking and becoming a drunkard will sink quickly into debt, become poor, homeless, and bring disrepute to his or her family.

One cannot maintain a proper home life and family by always sleeping till late, rising when it is night, and always being intoxicated.

One who continually gives excuses not to work and leaves things undone, will miss out on opportunities to do well.

One who is not greatly affected by difficulties in work, who does not look for excuses to avoid work, who fulfills his or her responsibilities, will always enjoy happiness.