The Richest Man In Babylon-5 min summary

THE RICHEST MAN IN BABYLON is written by GEORGE S. CLASONE in 1926. It gives financial advice through the collection of parables of 4000 years ago written in ancient Babylon. It is a self-help book. 

Let's talk about why we need to read this book:
1. To achieve financial success.

2. If you want to change your thinking about how money works, this is the book. 

3. It is a perfect guide to fulfill financial goals. 

Let's discuss the points which were really good. 

1. Babylon is one the richest cities in history. It does not have natural resources nor gold mines. So this city is basically a man-made city. Which is enormously wealthy.

2. We all work hard but some people get richer and some be in the same place. In this book, the secrets of getting wealthy are written. 

Let us discuss those secrets:

Book discusses 7 cures by which one can become wealthy and these are as follows:

1.  For every 10 coins you earn, make sure to spend nine.

2. Budget your expenses. It should not exceed 9/10th of your income. Control your expenditures.

3. To put each coin into labor. Such that coin can earn more coins for you and a stream of wealth shall constantly flow in the purse.

4. Invest coins where they are safe, where you can access them. Consult the wise man who has already good at holding coins and knows how to make coins at labor. Protect your wisdom from unsafe investments.

5. Own your own house.

6. Insure a future income. Provide in advance for the needs of the growing age and protection of the family.

7. Increase your ability to learn and earn. Learn new skills. 

In next section book tells how the Goddess of luck meet people:

Desire of getting lucky is universal. Is it there any way that we can attract luck and generous favours? Everyone wants to know.

The book tells us the LUCK will come to those who will TRY. 

THE MAN OF ACTION ARE FAVOURED BY THE GODDESS OF LUCK.

In next section, it discusses about the five laws of GOLD:

1. Success comes to those men who will put 1/10th of their earnings to create an estate for future and family.

2. Success will come to those who know profitable investments. 

3. The one who invests under the advice of wise man and invests cautiously will get gold. 

4. Success will slip away if invests in the bussiness he dont know and not skilled in.

5. The one who follow the advice of tricksters and trusts the inexperinced man will never be successful. 

Some other lessons i found really useful:

1. Lead a debt free life.

2. Lead a life which give you respect and prosperity.

3. It is better to be cautious than a Great Regret.

4. If you have the determination, you will definitely find a way.

5. Develop skills over time. 

 

REVIEW: This books provide basic insights of how to become wealthy. If you are serious about your financial growth and want to become financial independent then this is a must read book for you. This book is right combination of personal and professional advice. I found this book really helpful. The laws described in this book are really lifechanging. By adapting all the laws in the real life one can achieve enormous success as the lessons are taught from the richest man in the Babylon.