If I had read this book 10 years ago, maybe we would not have made some of the financial mistakes we’ve made.
The Richest Man in Babylon by George S. Clason is a simple book with very sound principles for financial management. Lessons are illustrated through engaging fictional stories set in old time Babylon written in old style English like the King James Bible. (But a lot easier to read the the King James Bible!) The stories about how the rich men of Babylon came to their place of wealth are filled with good morals and financial principles as much as they are entertaining.
Many of the principles we already know and practice, such as not spending beyond your means, saving a portion of your income regularly, and investing. There is more in the book such as principles for where to put your investment, perspectives about wealth, and attitudes towards borrowing and spending were very insightful.
The first half of the book is a bit repetitive. It gets better towards the end, so make sure you finish reading the entire book. I highly recommend this book to everyone over 17 years old. My son read it, and my daughter should read it next.
Here are a few quotes in the book I made me think:
Have I the soul of a slave or the soul of a free man? Then with clearness I realized that if I had the soul of a slave, I should give up, lie down in th desert and die. But if I had a soul of a free man, what then?
[you have to read the book to understand the context of the quote]Where the determination is, the way can be found.
I like to work, and I like to do good work, for work is the best friend I’ve ever known. It has brought me all the good things I’ve had…