The Richest Man in Babylon

Thousands of years old teachings about money, still relevant today.



book-notes

Buy the book

The Richest Man in Babylon

My rating: 5/5
by George S Clason
Amazon US
Amazon UK

Backstory

My brother initially got this book as a Christmas present for me a couple of years back, but I didn’t got around reading it for a while. He actually borrowed it and it’s still with him till this very day. (my brother lives in the UK, while I live in Romania, so the book had quite a travel adventure)

So, I actually read it electronically. I bought it because I it was very cheap on Google Books and I can never let a bargain go to waste.

My notes

These are all the notes/quotes I’ve gathered from The Richest man in Babylon. Mainly quotes, but I’ve let some personal comments slip through there.

Money is plentiful for those who understand the simple laws which govern its acquisition. (~pg 21)

Having knowledge of money vs having money

A man’s wealth is not in the purse he carries. A fat purse quickly empties if there be no golden stream to refill it. Arkad (the actual richest man in Babylon) has an income that constantly keeps his purse full, no matter how liberally he spends. (~pg 27)

Money comes and goes, but knowledge stays. That’s why the best and most secure investment is acquiring wisdom. Will it be through books, online-courses or school, your skills & knowledge can always use a polish.

It’s going to take time and effort

I decided that if I was to achieve what I desired, time and study would be required. (~pg 32)

You’re not going to build your wealth or your knowledge base overnight. Compound interest is at play here.

Growing expenses

That what each of us calls our ‘necessary expenses’ will always grow to equal our incomes unless we protest to the contrary. (~pg 51)

Control your desires

All men are burdened with more desires than they can gratify. (~pg 51)

Learn to control your desires, or else they’ll end up controlling you.

You make your own luck

Men of Action are favored by the goddess of Good Luck. (~pg 81)

Yes, luck probably plays a role in the creation of wealth. But there will certainly be no luck coming towards the person that takes no action in the attempt to create wealth. Make your own opportunities.

Young, but not stupid

Guided by the wisdom of age and not by the inexperience of youth. (~pg 87)

You may be young, but it certainly isn’t an excuse to be stupid, since wisdom of age is readily available.

Help only when it won’t break you

If you desire to help thy friend, do so in a way that will not bring thy friend’s burdens upon thyself. (~pg 101)

Then be not swayed by foolish sentiments of obligation to trust thy treasure to any person. If thou wouldst help thy family or thy friends, find other ways than risking the loss of thy treasure. (pg ~110)

Better safe than sorry

Better a Little Caution than a Great Regret (~pg 111)

Do you really have freedom?

The soul of a free man looks at life as a series of problems to be solved and solves them, while the soul of a slave whines, ‘What can I do who am but a slave?’ (~pg 127)

Don’t be too arrogant

Work he could offer in plenty to willing workers, but naught for men who considered themselves too good for work. (~pg 146)

A lot more opportunities are found your way, but you’re probably taking a blind eye to them due to arrogance. Who knows what will come out of it?

Wrapping up

Those are most of the quotes I’ve really enjoyed, and I hope my comments did them well. If you want to read this book, you can buy it here. (this is a referral link, I get a bit of commission through each sale)

I’ll leave you with another quote that I thought would give this post a nice ending.

Thou wert once a piece of soft claw to be pressed and moulded by any hand that touched thee, but now thou art a piece of bronze capable of holding an edge. (~pg 137)

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