Book Review: The Richest man in Babylon
The book the richest man in Babylon was written in the 1920s by George S. Classon.
The book talks about ways of acquiring wealth from the scratch. The writer describes how to make money from the scratch using first principles.
I have read a few books and I must say that the book is one of the best motivational books I have read so far. Shockingly, the book was written over a hundred years ago and the principles are still applicable today.
The book has a lot of lessons. The most important lessons I took from the book were lessons from the following.
- The 7 cures to a lean purse
- The 5 Laws of Gold
- The camel trader of Babylon
The seven cures to a lean purse talks about paying yourself by keeping one-tenth of what is earned. it also emphasizes controlling expenses and being disciplined about spending. It talks about investing and knowing what to invest in. It goes on to talks about being guided when investing. . The cure also points out the importance of increasing the capacity to earn. The alarming thing is that these cures are so easy to follow.
Another part of the book that really got my attention was the story of the camel trader who was sold into slavery and then became a camel trader. In the book, he narrated how he escaped slavery and fought to be a free man. The book also speaks on the importance of having proper work ethics and its benefits. The latter story made me change my views concerning work and my approach to work.
Here are some excerpts from the books;
A man’s wealth is not in the coins in his purse. It is in his income.
A man’s wealth is not in the coins in his purse. It is in his income.
The wise lender always has a guarantee of repayment should the investment go poorly.
Above all you should desire safety for your money. Better a little caution than a great regret.
On a final note, if you want a book that talks about finances in the most relatable way this book is for you. The book is short and concise. If you like stories, you will definitely enjoy this book.
Rating: I think I will give this book a 4.5/5. It was a wonderful read.
Thank you for reading.