The Richest Man in Babylon Summary: A collection of 10 ancient fables, which help inspire financial freedom and explain the money basics.
Title: The Richest Man in Babylon
Author: George S. Clason
Publisher: Penguin Books
Date Published: 1926
Subject: Financial Self Help
About the author: George S. Clason is an American author who was born in 1874 in Louisiana Missouri. George wrote a number of informational pamphlets, which were distributed by large banks on how financial freedom can be obtained. The most popular pamphlets were collated and now form The Richest Man in Babylon.
The Richest Man in Babylon PDF: No this book is not available for free download, you will be required to purchase the book.
The Man Who Desired Gold
The Richest Man in Babylon
Seven Cures for a Lean Purse
Meet the Goddess of Good Luck
The Five Laws of Gold
The Gold Lender of Babylon
The Walls of Babylon
The Camel Trader of Babylon
The Clay Tablets of Babylon
The Luckiest Man in Babylon
An Historical Sketch of Babylon
The Richest Man in Babylon Review: The storyline is based in Babylon, an ancient kingdom in Mesopotamia, which ranged from 18thto 6thcenturies BC. The story follows several characters with some links evident between the characters. Throughout the story line are some very important financial lessons, which will remain valid for several lifetimes.
The financial lessons follow the following 7 cures for a lean purse:
1. Start thy purse to fattening
2. Control thy expenditures
3. Make the gold multiply
4. Guard the treasures from loss
5. Make of thy dwelling a profitable investment
6. Insure a future income
7. Increase thy ability to earn
Originally the Richest Man in Babylon book was first published in 1926 and has stood the test of time, it still remains a popular book today and will continue to remain popular into the future, as the advice is incredibly useful.
The lessons are very simple and are easy to follow, however some of the Old Testament style language with phrases like “thou hast” and “thy” could throw some readers off. The chapters are very short and succinct with each chapter somewhat related but different.
I think the most important take away from this book is the following: you have to pay yourself first. What does this mean? It means whatever you earn, as soon as you receive the money you need to take away 10% of this and put it somewhere where you will never spend it. Eventually you will have enough money to get working for you to create even more money. The example used in the book is based around the use of ancient gold coins. You have to be thrifty and don’t just waste away money. You need to look after yourself first.
The next most important lesson I learned is to choose your investments wisely. Don’t just throw money around being misinformed – you will lose it. The example they used in the book is giving money to a bricklayer in order for him to buy diamonds to sell. The bricklayer took the money and was ripped off and lost everything. Instead get a jeweler to buy the diamonds, as he is the one who is well informed not the bricklayer.
Overall the book changes perspective of money management, and many people wish they had read this book earlier in their life.
Make sure you grab a copy and check out the The Richest Man in Babylon George S. Clason.