The Richest Man in Babylon: Original 1926 Edition Paperback – February 18, 2015

The richest man in BabylonWhen we speak of history, Babylon is a city that we associate with much wealth and prosperity, however it wasn't always like that. The city of Babylon is a clear example of mans ability to achieve much even though they had little at their disposal.Babylon had only two natural resources, fertile soil and river water , through this and the wisdom they possessed, they were able to build one of the greatest cities ever. They engineered dams which allowed the water to flow onto the fertile soil, encouraging the growth of crops in abundance. It is believed the trading of these crops was the stepping stone for their wealth and splendor.Unlike other well known cities in history, Babylon was that which did not require the use of raiding to increase their profits, though it happened it wasn't incidental to their success as many of their battles were on the defense against opposing forces who aimed to overcome this great city. Their defenses, the sky scraping walls they built, also considered as great as the pyramids of Egypt, were crucial in their survival, and is claimed as one of the seven wonders of the world.It is believed that the Babylonians were ahead of their time, they were skilled arts man, painters, weavers, jewelers etc, they were clever financiers and traders.Babylon though constantly besieged was never overthrown or entered by outside forces until 540 years before Christ's birth. However it wasn't because the opposing army penetrated the impregnable walls.The king at the time was advised to go forth to meet the oncoming army, in doing so, he was unfortunately defeated leaving the city open and unguarded.The city never achieved the greatness it once possessed and over time it became a desolate waste.Nonetheless though the city is no more. the wisdom of the Babylonians lives on, and we all can learn a great deal from the great city of Babylon.The book starts off with a man who desired gold, like every other human being we all want to be better and live better, to accumulate items we like and to bless ourselves with gifts. Bansir a chariot builder was discouraged at his lack of fortune, every day he did the same thing and barely got by, while others were living life ecstatically. He wanted more, and he observed the only way to increase his monetary value was to ask his good friend who done what he wanted to achieve and go where he wanted to go."It costs nothing to ask wise advice from a good friend""Thou makes me to realize the reason why we never found any measure of wealth. We never sought it."The book continues to the advice of the good friend and how he achieved his wealth and greatness and how he became the richest man in Babylon. Likewise, The richest man in Babylon, wasn't handed a silver spoon neither was he a prince with an inheritance. He as well, had to ask one more well off than him how to obtain richest and gold for himself. The grand advice he received was "a part of all you earn is yours to keep."From this the richest man in Babylon understood that he must pay himself first. From everything that he earned, one tenth was his to save, or more based on what he could afford. For "wealth, like a tree, grows from a tiny seed."The rich man than went on to include what else he had learned from his mentor, the seven cures for a lean purse. (Empty purse)They are:1.) Start they purse to fattening: which is to put aside a tenth of what you earned, over time it will accumulate.2.) Control thy expenditures: carefully consider what is necessary and what isn't. Don't throw your coin to what which isn't required.3.) Make they gold multiply: look for ways to get your gold to work for you, investments.4.) Guard thy treasure from loss: this ties in with number 2, to be careful with where we spend our money. We shouldn't be rash with spending or intrigued by get rich quick schemes.5.) Own they own home, Make of thy dwelling a profitable investment: invest in obtaining thine own land. You can't fully enjoy life unless you have something you can call your own.6.) Insure a future income: "save for a rainy day" comes to mind with this. We don't know what the future holds, therefore we must save accordingly for a day that comes upon us unexpectedly.7.) Increase thy ability to earn: "the more of wisdom we know, the more we may earn." Increase your knowledge to better hell yourself. "The man who seeks to learn more of his craft shall be richly rewarded." The more you learn the more you earn.These methods for creating wealth were in the first half of the book. The author continues to include key knowledgeable concepts within the pages, from topics to "good luck" and "working for others", there's so much one can learn. The points are fundamental and simple but without a doubt are crucial. I've begun to adapt some methods and can see the effect it will have in the future.This book isn't complicated or brain wrecking, it's simplified tremendously but the impact regardless is grand. It also goes into detail concerning the seven cures for a lean purse and many other economical situations. Most would do universities courses in economics but this read i feel is a basis for any monetary exchanges and management. This isn't just advice for the well off but for those who have little to nothing. Like the chariot builder, and the richest man in Babylon, these individuals had nothing but they made it into something.

Great Book!

Themes and Lessons:The book revolves around fundamental principles of personal finance and wealth accumulation, presented in the form of storytelling. Each chapter introduces a parable that illustrates a specific financial lesson, such as saving, investing, budgeting, and the importance of financial discipline. These principles are delivered through memorable characters and situations, making complex financial concepts accessible and practical for readers.Practical Advice:One of the strengths of "The Richest Man In Babylon" is its practical advice that remains relevant across generations. The book emphasizes timeless principles such as:Pay Yourself First: Setting aside a portion of earnings for savings and investments before spending on other expenses.Live Within Your Means: Budgeting wisely and avoiding unnecessary debt to achieve financial stability.Make Money Work for You: Investing wisely to generate passive income and build wealth over time.Clear and Engaging Writing:Clason’s writing style is straightforward and engaging, making the book accessible to readers of all backgrounds. The parables are crafted to be both instructive and entertaining, ensuring that readers stay engaged while absorbing valuable financial lessons.Applicability and Relevance:Despite being published in 1926, "The Richest Man In Babylon" remains highly relevant in today’s financial landscape. The principles it teaches are universal and can be applied by anyone seeking to improve their financial situation, regardless of income level or economic conditions.Critique:While the book provides timeless financial wisdom, some readers may find the ancient Babylonian setting and language used in the parables a bit dated. However, the core principles and lessons transcend historical context, making them adaptable to modern financial practices.Impact and Recommendation:"The Richest Man In Babylon" has had a profound impact on countless readers worldwide, empowering them with practical strategies for financial success. It is highly recommended for anyone looking to gain a better understanding of personal finance, wealth-building strategies, and the mindset required to achieve financial independence.Rating: 4.8/5Content: 5/5Readability: 4.5/5Practicality: 5/5Impact: 4.8/5

I read this book when I was a kid. It's a good book. It gives you rather easy to remember principles in regards to making money and holding on to it. The story of Babylon just adds to the interest.

The Richest man in Babylon is a great book read with insight. It one book every prospective successful person should read and reread for it offers foundational wealth generating principles that are tried and tested.

Love reading and rereading this book

This is an excellent book that I’ve been revisiting since 2017. It makes a thoughtful gift for anyone starting their journey toward financial independence. If you often find yourself with a "lean purse" and are looking for ways to "fatten" it, *The Richest Man in Babylon* offers straightforward advice presented through engaging riddles that emphasize its timeless lessons. As the foundational book on financial independence, it’s a must-read. Unlike many modern financial books filled with unnecessary fluff, this one is concise and impactful, reminding me of the wisdom found in the Book of Proverbs.Though I have other paperback copy when I saw this hardcover I had to get it, it looks great on the bookshelf.

There are some great tips to improve one’s financial state. Some of the fundamentals are the same that people use today. I heard of this book from listening to Dave Ramsey and it has not been a disappointment. I recommend this book to all.