The Richest Man in Babylon

The Richest Man in Babylon

Author

George S. Clason

Tags
Money FundamentalsWealth BuildingFinancial Discipline

The Richest Man In Babylon is a great book for understanding the simplicity of accumulating wealth and the discipline necessary to execute.

On the back of the book you can find this quote associated with 7 laws…

Lo, Money Is Plentiful For Those Who Understand The Simple Rules Of Its Acquisition.

  1. Start thy purse to fattening
  2. Control thy expenditures
  3. Make thy gold multiply
  4. Guard thy treasures from loss
  5. Make of thy dwelling a profitable investment
  6. Increase a future income
  7. Increase the ability to earn

Now this sounds somewhat confusing due to the old english but it will be explained in modern terms shortly.

  1. Save 10% of your income
  2. Create a budget
  3. Use that 10% to invest and return more
  4. Do not take uneccessary risk