The Richest Man in Babylon is a classic, it is a book that has become a best seller In short, the book is an important learning experience about personal finance, as it contains important lessons on how to save and earn money.

If you ask anyone who has achieved financial success, they have possibly read this book, because in it are the most important steps on how to make money multiply, so that you will never lack money in your pocket.

After all, those who achieve freedom live more peacefully, because they no longer have to worry about economic crises, nor whether they will have money when they are no longer able to work in their old age.

Table of Contents

• Richest Man in Babylon by George Clason
• Book Summary Richest Man in Babylon
• 7 lessons from the book The Richest Man in Babylon
  • 1. start making your money grow
  • 2. control your expenses
  • 3. multiply your income
  • 4. protect your treasure against loss
  • 5. make the home a profitable investment
  • 6. secure an income for the future
  • 7. increase your capacity to win

Richest Man in Babylon by George Clason

The Richest Man in Babylon is the oldest and most popular book on personal finance, written by George Samuel Clason and released in 1926. The author attended the University of Nebraska in the United States and served in the U.S. Army during the Spanish-American War.

George Clason first became known for writing several pamphlets that taught how to save money and achieve financial success through parables. The author also created the "Clason Map Company" and the "Clason Publishing Company".

However, the author became famous with the publication of his first book, The Richest Man in Babylon, a book that, to this day, brings together lessons on how to achieve the much-dreamed-of wealth.

Book Summary Richest Man in Babylon

The story takes place in the city of Babylon, then known as the richest city in the world. However, this wealth was in the hands of only the minority, while the people lived in poverty and misery.

So, to change the situation of his people, the king asks the richest man in Babylon, Arkad, to give him lessons on how to accumulate wealth. 100 people were selected by the king, so that they could learn from Arkad how to become rich.

7 lessons from the book The Richest Man in Babylon

In this sense, Arkad, has summarized his teachings in 7 precious steps for making money, saving, and multiplying wealth.

If you are having financial difficulties, or want to learn how to multiply your money, this book will surely help you. Learn these 7 lessons on personal finance from the book The Richest Man in Babylon, they may change your plans for your money.

1. start making your money grow

The first step to being rich is to start saving. Arkad, the richest man in Babylon, teaches that one should pay first. First of all, as soon as you receive your money, such as your salary, you should set aside 10%.

In this sense, the first lesson shows that before you pay for anything, you should set aside your share. The book exemplifies with gold coins, if you receive 10 coins, count as if you had only 9 and set aside one per month.

So reflect on your reality, is your salary not even enough for your bills or will it not last until the end of the month? Possibly you will find it impossible to make this reserve. Now you must learn lesson 2.

2. control your expenses

Soon after Lesson 1 the questions began. The people who attended Arkad's lessons, inquired that it would not be possible to set aside a coin, because it was already difficult to live on the little they had.

As a result, Arkad teaches that one should restructure all spending, including that which one uses for leisure. In other words, everything should be within this 90% and the 10% should be seen as a life purpose.

3. multiply your income

In short, this means that better than having money is to make it work for you. It is commonly heard from investment experts that you must make money while you sleep to actually become rich.

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The richest man in Babylon emphasizes that one must invest the gold (like today's money) in order to use it profitably. Only then is it possible for it to multiply.

If you know nothing about the world of finance, seek help from experts. This is the most prudent way to start investing, especially in investments that are riskier, such as buying stocks in the stock market.

4. protect your treasure against loss

In continuity with the previous teaching, you must know how to protect your money and, to do so, you must seek knowledge. Otherwise, all your efforts to conquer your patrimony will be in vain and may even lead you to ruin.

Therefore, look for specialized professionals, who have already found the path to wealth. This will shorten your path and make your risks immensely smaller.

5. make the home a profitable investment

Arkad teaches that life is only fully happy when your family has a ground to live on. It is worth saying that in ancient Babylon people consumed what they planted, it was a totally different way than today.

However, for reality, we need to go back to lesson 3. That is, by gaining knowledge about the investment world, you will know what the best decision will be, such as whether to live with your family in a rented house or to own your own home.

6. secure an income for the future

In short, the richest man in Babylon explains that from a young age one must work in order to be able to have an income in the future.

In other words, you must have plans for what your needs and those of your family will be when you reach your old age.

7. increase your capacity to win

Finally, in order to achieve wealth, you must increase your knowledge so that you can make more money. In finance, for example, there is no point in simply putting your money into an application, without even delving into the subject.

You may have heard the saying that knowledge opens doors. Above all, try to get to know the most diverse forms of investments; know that, nowadays, the possibilities are immense.

So here's the tip, invest in your financial education, so you can develop new skills during your life. As a result, you will find ways to earn money and have many sources of income.

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