The Richest Man in Babylon

I read George Clason’s classic The Richest Man in Babylon two weeks ago. I read the ebook and it was a perfect read for a holiday. The book teaches you the fundamentals of money. How to save and grow your money, following principles that have worked for ages.
The book is a must read for anybody who wants to make money! 😉 It will certainly teach you a lesson or two even if you are an investment banker! There is also a website by John Murphy that sends these lessons over email. It’s Your Money has a nice rundown on the 7 cures for a lean purse – in context of the current world.

And we even included those 7 cures in the wall poster we made for office! Here they are.

Seven Cures for a Lean Purse

1. Start thy purse to fattening: “For every ten coins thou placest within thy purse take out for use but nine. Thy purse will start to fatten at once and its increasing weight will feel good in thy hand and bring satisfaction to thy soul.”
2. Control thy expenditures: “Budget thy expenses that thou mayest have coins to pay for thy necessities, to pay for thy enjoyments and to gratify thy worthwhile desires without spending  more than nine-tenths of thy earnings.”
3. Make thy gold multiply: “Put each coin to laboring that it may reproduce its kind even as flocks of the field and help to bring to thee income, a stream of wealth that shall flow constantly into thy purse.”
4. Guard thy treasures from loss: “Guard thy treasure from loss by investing only where thy principle is safe, where it may be reclaimed if desirable, and where thou will not fail to collect a fair rental. Consult with wise men. Secure the advice of those experienced in the profitable handling of gold. Let their wisdom protect thy treasure from unsafe investments.”
5. Make of thy dwelling a profitable investment: “Own thy own home.”
6. Insure a future income: “Provide for in advance for the needs of thy growing age and the protection of thy family.”
7. Increase thy ability to earn: “Cultivate thy own powers, to study and become wiser, to become more skilful, to act as to respect thyself.”

The language of the book can be a bit difficult to understand, I had to look up many words, but I enjoyed even that 🙂

Recommended Read!