Sunday, March 11, 2012

Book Review: The Richest Man In Babylon

Continuing with my goal to read one book a month (or more) I have completed the finance book called, "The Richest Man in Babylon," by George S. Clason.

I am already starting to learn a pattern between each of the three books that I have read so far. They all require life style changes in order to accomplish your financial goals, and not just "spend less money here-" fill in the blank. The setting of this book takes place in ancient Babylon when it was once one of the richest locations. The Richest Man was a man named Arkad, and through a group of tales the book takes you through different stories of men earning a living and becoming wealthy while following several principals for spending and making money.

Some of my favorite quotes from this book were:

"In those things toward which we exert our best endeavors we succeed."

"He who takes advice about his savings from one who is inexperienced in such matters, shall pay with his savings for proving the falsity of their opinions."

"Opportunity is a haughty goddess who wastes no time with those who are unprepared."

"Better a little caution, than a large regret." In terms of poor investing/loans.

"Where the determination is, the will can be found." This is a really great chapter about having hope and getting out of debt. This chapter is called, "The Camel Trader." It reminded me a lot about our situation- lots of debt, but working our way out of it.

Each chapter gave different principals (some more similar than others) on how to make and save money.

For example, one chapter had three guidelines:
1. Live on less than you earn.(Delayed gratification)
2. Seek advice from those competent.
3. Make gold (money) work for you.

There is a chapter that talks about Seven cures for a lean purse. Which then explains how to earn money, even if you don't make a lot. Another chapter discusses the five laws of Gold, following these will make you wiser (yeah, read the book to learn more). Another chapter talks about the rewards of hard work and blessings.

This was a much shorter book than my previous book, but I really enjoyed reading it. There is a little bit of Babylon history in the back of the book as well, pretty fascinating stuff. I highly recommend this book to anyone interested in seeking out financial (and living) wisdom!

Financial Blessings and Health to you all!

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