“A bag heavy with gold or a clay tablet carved with words of wisdom; if thou hadst thy choice, which wouldst thou choose?” ― George S. Clason, The Richest Man in Babylon

The Richest Man in Babylon is one of those rare books that has a well-regarded status for personal finance. It quickly climbed up my reading list and I finally got around to reading.

Overall, it was a quick, interesting, thought provoking read, that was extremely inspiring.

The book opens up with story about a chariot builder named Bansir and Kobbi who was a musician. The two were the best at their craft but yet had no money and were poor. They then sought out advice from one of their childhood friend name Arkad who had grown rich and amassed great fortunes.

Using lots of parables and stories, the lessons Arkad provided on wealth building and managing finances are the basis of the book. While some of the ideas are archaically written, they remain timeless.

If you don’t want to accumulate wealth. If you don’t want to have lots of money. If you don’t want to be finacially free, sufficiently taking care of yourself and potentially leaving some for future generations. Then this book is NOT for you. Otherwise, if you are like most of us who live on a budget and are looking to live a financially sufficient life, then the book is for you.

As I read, only a few pages in and I’m hit with a key message. A person’s wealth rises, so do their expenses.

This is a simple yet powerful takeaway lesson because discipline is at the key of any financial success. People who can make money and keep are the people who have mastered how to be disciplined. A lot of people want to be rich, but will never get there because of lack of discipline with the little money they have at hand.

Countless real life stories remind us of the fact that most lottery winners end up going bankrupt within a few years and mostly because they lacked self discipline. Therefore, the problem is not the lack of money but how it is managed.

At the core, this book is intended to teach the values of saving, discipline, overcoming poor habits such as procrastination & being able to take advantage of opportunities.

“MEN OF ACTION ARE FAVORED BY THE GODDESS OF GOOD LUCK”― George S. Clason, The Richest Man in Babylon

A few key financial principles to be learned.

=> No matter what size your income is, 10% of it is yours to keep.
=> Debt is an enemy to conquer, not a necessary evil.
=> The desire to be lucky is Universal…and, Good luck can be enticed by accepting opportunity.

Within the book, we also see the “Seven Cures for a Lean Purse”.

1. Start thy purse to fattening
2. Control thy expenditures
3. Make thy gold multiply
4. Guard thy treasures from loss
5. Make of thy dwelling a profitable investment
6. Insure a future income
7. Increase thy ability to earn

A Few powerful quotes.

“Advice is one thing that is freely given away, but watch that you only take what is worth having.”
― George S. Clason, The Richest Man in Babylon

“It costs nothing to ask wise advice from a good friend.”
― George S. Clason, The Richest Man in Babylon

“Learning was of two kinds: the one being the things we learned and knew, and the other being the training that taught us how to find out what we did not know?”
― George S. Clason, The Richest Man in Babylon

“If you desire to help thy friend, do so in a way that will not bring thy friend’s burdens upon thyself.”
― George S. Clason, The Richest Man in Babylon

“The hungrier one becomes, the clearer one’s mind works— also the more sensitive one becomes to the odors of food.”
― George S. Clason, The Richest Man in Babylon

“We found water. We passed into a more fertile country where were grass and fruit. We found the trail to Babylon because the soul of a free man looks at life as a series of problems to be solved and solves them, while the soul of a slave whines, ‘What can I do who am but a slave?”
― George S. Clason, The Richest Man in Babylon

“Wealth, like a tree, grows from a tiny seed. The first copper you save is the seed from which your tree of wealth shall grow. The sooner you plant that seed the sooner shall the tree grow. And the more faithfully you nourish and water that tree with consistent savings, the sooner may you bask in contentment beneath its shade.”
― George S. Clason, The Richest Man in Babylon

“Opportunity is a haughty goddess who wastes no time with those who are unprepared.”
― George S. Clason, The Richest Man in Babylon

This book was highly motivating for me, and I recommend it to anyone who ever uses money. I’ve read it once, and will definitely be coming back to read over and over again as needed.

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