The Richest Man in Babylon by George S. Clason is a classic. It’s one of those books that gets referred to over and over again as a top financial book to read. Well, after reading it, I can’t say that I disagree. It was a quick, inspiring read packed with basic sound financial advice. It’s principles are timeless.
Throughout the book there are stories of different character’s lives in Babylon, each pointing to different principles of personal finance. Not only are they sound financial principles, the tales used to to define and reinforce them are entaining, and a few captivating. This is a book that will stay on the shelf to be read again.
There are different rules throughout the book that reiterate the the same principles in different ways, such as the 7 cures for a lean purse, and the 5 laws of gold. Some of the basics principles are: work hard to earn money, live below your means, pay yourself first, and invest. It then continues with tales on the investing side with such morals as, make sure to manage risks, and if it seems too good to be true it probably is.
For such a short book (158 pages), I had a page of notes. In fact I had copied many of the rules thinking I would share them here, as a sort of cliff note version of the book. However, this book is written as such a parable, I feel as if I’d be doing a disservice to both you and the book. So I’m not. I’m just going to say read it. 🙂
Instead I leave you with a quote from The Camel Trader of Babylon, “Where determination is, the way can be found.”
Have you read The Richest Man in Babylon? What’d you think?