What You Will Learn from The Richest Man in Babylon

Hailed as the ultimate guidance through your financial problems, The Richest Man in Babylon reveals important financial principles that hold the key to personal wealth.

The Richest Man in Babylon teaches us seven financial rules, using parables set 8,000 years ago in ancient Babylonia with a protagonist named Arkad. Arkad started his journey as a poor scribe but became the Richest Man in Babylon in the end. Told in simple language and engaging stories, The Richest Man in Babylon will set you on a sure path to prosperity and its accompanying joys.

The 7 Important Rules

Money typically filters through the hands of the neediest as quickly as goat’s milk goes through the strainer. When the stream ceases to flow, most people have nothing to show for their earnings. Why can’t everyone learn to accumulate gold and become rich and prosperous?

The Seven Cures of a Lean Purse illustrates the ways to achieve prosperity

1. Start thy purse to fattening

You need to get a bigger purse to put more money in than you spend. Only spend money on the things you can afford. This seems simple but it isn’t easy when you’re looking to keep up with the Joneses.

2. Control Thy Expenditures

Most people don’t earn the same nor have the same sized family to support. Yet most purses are equally lean. What each of us calls necessary expenses will always grow to equal our incomes unless we protest to the contrary.

3. Make Thy Gold Multiply

If your money sits in a bank account, your wealth will be eroded by inflation. Make sure that the money you do spend will increase both income and capital in time. Let your earnings start working for you by investing in businesses that will return dividends in years to come.

4. Guard thy treasures from loss

We must learn to protect small treasures before the gods trust us with more blessings. Without proper care, you may lose your money to bad investments or conmen. Don’t be misled by the desire to make wealth rapidly. Consult with wise men on where your money should go.

5. Make of thy dwelling a profitable investment

Blessings come to the man who owns his house. Owning this will be of great help in achieving your aims easily. Instead of paying rent to your landlord, you can use this money instead to support one of your business investments.

6. Ensure a future income

No one can predict what is coming around the corner. It is essential that you put concrete plans around unexpected deaths or accidents that may limit your ability to work. With good future plans, your family and those who depend on you will be fine.

7. Increase thy ability to earn

No matter what age you are, you should always be learning. Your ability to earn is directly tied to what you learn. There is a limit on how much you can save, but no limit on how much you can earn.