Ancient Babylonia was perhaps the single wealthiest nation during its time. It was a booming center of trade and embodied all things capitalistic. In addition it was a center of education and scientific advancement. Babylonian scholars created maps of constellations and made much advancement in mathematics and astronomy. The ancient city is now gone, but George S. Clason uses the setting of ancient Babylon to teach fundamental financial principles through parables in “The Richest Man in Babylon”.

This book was originally published all the way back in 1926, but contains some timeless information that everyone should understand to become financially successful. The book is a series of stories about citizens of ancient Babylon and the lessons they learn through their experiences in the city. Perhaps one of the reasons this book is so successful is that people can identify with the situations the people are going through even though the stories are set thousands of years ago.

Inside this book you won’t find any insider secrets to managing your money, you’ll just find practical principles that you can implement in your financial life. You may have heard such financial principals as “a part of all I earn is mine to keep” and “live on less than you make,” but Clason does an excellent job of presenting these principals in a new light that one can implement in their own lives. The book discusses a number of different topics, such as investing, being frugal, budgeting, making priorities with your money, and more.

Inside the book, Clason presents his version of a financial plan. He first suggests that you save the first 10% of your money and invest it. Clason states that you should use the next 20% of your money to pay off your debts, and then live on the remaining 70% of your income. After your debts are eliminated Clason suggests you continue to use the 20% of the money that was going toward your debts for investing.

This is a short and easy to read book that can be consumed in just a few hours. Don’t fall under the incorrect impression that the principals and lessons taught in this book are too simple. The parables taught might be easy to understand, but executing that plan takes effort and the correct mindset. It’s an excellent book to discover your first steps toward creating your personal wealth and accumulating even more. If you haven’t read this book yet, you should soon.

Buy “The Richest Man in Babylon” from Amazon.com



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