The Richest Man in Babylon by George S. Classon
One of my favourite, if not my favourite book of all time.
I have a tendency to like the Old English writing style, and found many of the parables and lessons taught to be profound. These principles will be around for another two thousand years – no question.
Here’s some notes I highlighted whilst reading the book you may find of value:
—
The Richest Man in Babylon Tells His System
I found the road to wealth when I decided that a part of all I earned was mine to keep
A PART OF ALL YOU EARN IS YOURS TO KEEP. It should not be less than a tenth no matter how little you earn. It can be as much as you can afford. Pay yourself first.
Advice is one thing that is freely given away, but watch that you take only what is worth having
A part of all you earn is yours to keep
The Tale of 7 Remedies for a Lean Purse
The 1st Remedy – Start Thy Purse to Fattening
The 2nd Remedy – Control Thy Expenses
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
The 3rd Remedy – Make Thy Gold Multiply
Put each coin to labouring that it may reproduce its kind even as the flocks of the field and help bring to thee income, a stream of wealth that shall follow constantly into thy purse
The 4th Remedy – Guard Thy Treasures from Loss
Guard thy treasures from loss by investing only where thy principal 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 men experienced in the profitable handling of gold. Let their wisdom protect thy from unsafe investment.
The 5th Remedy – Make of Thy Dwelling a Profitable Investment
Thus come many blessings to the man who owneth his own house. And greatly it will reduce his cost of living, making available more of his earning for pleasures and the gratification of his desires. This then is the fifth remedy for a lean purse. Own they own home.
The 6th Remedy – Insure a Future Income
Provide in advance for the needs of thy growing age and the protection of thy family
The 7th Remedy – Increase Thy Ability to Earn
Cultivate thy own powers, to study and become wiser, to become more skilful, to so act as to repeat thyself. Thereby shalt thou acquire confidence in thyself to achieve they carefully considered desires.
The Debate of Good Luck
Opportunity waits for no man
To attract good luck to oneself, it is necessary to take advantage of opportunities
ACTION will lead thee forward to the successes thou dost desire
Men of Action are favoured by Good Luck
The 5 Laws of Gold
1. Gold cometh gladly and in increasing quantity to any man whosoever will put by not less than one-tenth of his earnings to create an estate for his future and that of his family
2. Gold laboureth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field
3. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling
4. Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep
5. Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment
The Tale of the Gold Lender of Babylon
If thou desire to help thy friend, do so in a way that will not bring thy friend’s burdens upon thyself
Better a little caution than a great regret
The Tale of the Walls of Babylon
We cannot afford to be without adequate protection
The Tale of the Camel Trader of Babylon
Where the determination is, the way can be found
—
I read this sitting at the Ayia Napa marina’s furthest point out to sea. Wonderful just sitting there, soaking up the sun and some very valuable knowledge.
Hoping you enjoy this one as much as I did,
Sam