The Richest Man in Babylon is a 1926 book by George S. Clason that dispenses financial advice through a collection of parables set 4,000 years ago in ancient Babylon. The book remains in print almost a century after the parables were originally published, and is regarded as a classic of personal financial advice.
The Richest Man in Babylon Summary
Babylon was once considered the most prosperous city in the world, known for its many houses, palaces, wide and long ramparts. This place used to be a desert area. But with efforts and determination, the people here have turned the barren countryside into a fertile arable land.
The success of Babylon inspired the author to write a series of fables to demonstrate the immutable laws of finance and how to get rich. These rules are widely known among banks, insurance companies and even business owners. They take this as a lesson for employees about the benefits of thrift and hard work. The tips in the book not only help you appreciate the value of money, but also guide you to practice healthy financial principles when making, preserving, and earning more money.
Kobbi and Bansir are two poor friends, but in them there is always a perception and a desire to be rich. That prompted them to turn to the richest man in Babylon for advice and ask him for advice on ways to get rich.
From here, Clason has revealed a classic secret to success and an ancient truth that: “If you want to be rich, you must learn from successful people.”
Arkad told his story of getting rich from his days as a poor worker.
Strong will is the first thing everyone needs. Willpower is the pursuit to the end of your work goals. “As soon as I set a goal for myself, I insist on achieving it. Therefore, I am very cautious when setting goals for myself, but once I have a goal, I must definitely complete it.”
Always tell yourself that “You have to set aside one-tenth of all the money you have earned”. Think about it every morning when you wake up, every afternoon before you eat and even before you go to bed at night. The amount set aside for yourself should not be less than one-tenth of the total earnings, and other expenses must be arranged reasonably so as not to exceed the remaining amount.
By saving at least 10 percent of your earnings and leaving it unspent. Over time, the amount will increase and at that time, money will become your slave.
It doesn’t matter how much money you start with, as long as you follow the rule of paying yourself first from whatever you earn. You won’t even notice this lack of savings. Anyone who can, sooner or later, live on 80 or 90 percent of their income and enslave money, can become rich.
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About the Author
George Samuel Clason was an American author. He is most often associated with his book The Richest Man in Babylon which was first published in 1926.