The Richest Man In Babylon |
The Richest Man In Babylon.
The Richest Man in Babylon is a book by George Samuel Clason which provides financial advice through a collection of parables set in ancient Babylon. This book gives the complete information on financial advice, how to start a business and how to make it successful. Read the book thrive the skills.
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The Richest Man in Babylon summary
This is my book summary of The Richest Man in Babylon by George S. Clason. My notes are informal and often contain quotes from the book as well as my own thoughts. This summary also includes key lessons and important passages from the book.The 7 simple rules of money: 1) Start thy purse to fattening: save money. 2) Control thy expenditures: don’t spend more than you need. 3) Make thy gold multiply: invest wisely. 4) Guard thy treasures from loss: avoid investments that sound too good to be true. 5) Make of thy dwelling a profitable investment: own your home. 6) Ensure a future income: protect yourself with life insurance. 7) Improve thy ability to earn: strive to become wiser and more knowledgeable.To bring your dreams and desires to fulfilment, you must be successful with money.The laws of money are like the laws of gravity: assured and unchanging.Money is plentiful for those who understand the simple laws of making money.Babylon was the wealthiest city in the world at the time of its height because its people appreciated the value of money.You must constantly have an income that keeps your purse full.“It costs nothing to ask wise advice from a good friend.”It’s simple to say, but many people never achieve a serious measure of wealth because they never seek it. They never truly seek it, focus on it, and commit to it.Youth often assumes, incorrectly, that the old and wise only have wisdom about days gone by.You will only begin building wealth when you start to realize that a part of all the money you earn is yours to keep. That is, pay yourself first. You always pay others for goods and services. Pay yourself as much as you can. Save money.You should save at least 1/10th of what you earn. If you are in debt, live on 70% of what you make. Save 10% for yourself. Use the remaining 20% to repay your debts.Stick with the plan. Money accrues surprisingly quickly and debts are gone fast with discipline and consistency.Work attracts friends who admire your industriousness. Work attracts money and opportunity. “Hard work is the best friend I’ve ever had.” (The Richest Man In Babylon)
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