Password Protect a folder on OSX

I recently discovered (with the help of a few online resources) a way to actually password protect a folder on osx. Normally one might think you can’t do this, because osx only gives you the option to allow/dis-allow different accounts from accessing a folder.

But, with a pinch of wizardry (HA! You thought I forgot about that word!) you too can password protect a folder WITHOUT needing to make multiple accounts. Read on, dear reader, read on.