4.68

2

Nov 05, 2008

Books like Richest Man in Babylon, Rich Dad Poor Dad, the Millionaire next door will never go away unfortunately. There is too much money to be made in writing them. Richest Man in Babylon combines a simple premise with a mysterious title to drag the reader through 150 pages of drudgery that could be summed up in a couple of sentences:

1. Save 10% of everything you make.
2. Be smart not dumb
3. Invest the money you save.

Despite George Clason's (the author) best, somewhat self serving, intentions Books like Richest Man in Babylon, Rich Dad Poor Dad, the Millionaire next door will never go away unfortunately. There is too much money to be made in writing them. Richest Man in Babylon combines a simple premise with a mysterious title to drag the reader through 150 pages of drudgery that could be summed up in a couple of sentences:

1. Save 10% of everything you make.
2. Be smart not dumb
3. Invest the money you save.

Despite George Clason's (the author) best, somewhat self serving, intentions America has clever and deeper pocketed interests such as Capital One Master Card, Retailers, Payday Loan Centers, and the Brick and Mortar of the American Economy, Capitalism and Consumerism that are determined in showing us that being broke and having things is better than being the Richest man in Babylon and suffering our old acquaintances showing up at high school reunions in fancier cars than our mid 90's Toyota 4Runner.

For those that find Richest Man in Babylon persuasive, putting forward novel concepts that will motivate them to straighten out their finances, I've got bad news. The hounds of consumerism will put out an equally persuasive message which will financially pull in the other direction and it will be back to potentially suffering from Aflatoxin poisoning while eating dry cat food to knock out this month's rent.

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3

Nov 28, 2008

Redundant? Yes. Simplistic? Yes. Necessary? Absolutely. Reading the book changes one's perspective on personal finances.

5

Apr 11, 2019

Nobody gets rich without working and we know that we should work hard. But what does hard work mean? This book answers it well. I bought this bestseller @50% off here: https://www.amazon.com/Richest-Man-Ba...

4

Jan 10, 2019

This was an unusual but engaging multi-layered tale about finance, business and human accomplishments that, I admit, could have been less simplistic but that was smart enough to make me think about my own financial situation and offered advice worth considering.

5

Jul 16, 2009

This book was absolutely fantastic! It really opened my eyes to finances and has changed the way I view them. One of the biggest things this book teaches is that no matter what size your income is, 10% of it is yours to keep. Another is that debt is an enemy to conquer, not a necessary evil. One of the families in the story did this, and had to pay rent on top of it. We have long realized that renting and paying interest on a mortgage is about the same. Michael and I came up with a spending plan This book was absolutely fantastic! It really opened my eyes to finances and has changed the way I view them. One of the biggest things this book teaches is that no matter what size your income is, 10% of it is yours to keep. Another is that debt is an enemy to conquer, not a necessary evil. One of the families in the story did this, and had to pay rent on top of it. We have long realized that renting and paying interest on a mortgage is about the same. Michael and I came up with a spending plan that allots 20% of our income to actually paying off our debt, and we will be completely debt free in 9 years, and in that time we will also have allotted 10% to savings. 10% of our income goes to tithing as well, so this gives us 60% of our income to live off of. But we took that figure and created a plan based on that amount. We're not going to starve on that figure.
This plan gives us less money for other things that we're used to buying, and starting out we realize that we're going to have to sacrifice to make this work, but we figure that now while our family is young is the best time to establish these habits. To be completely debt free with our home before we even have teenagers will be a powerful thing. We just need to focus on this master plan.
This book was highly motivating for me, and I recommend it to anyone who ever uses money. ...more

5

Nov 28, 2008

Read it 4 years ago, LOVED it, I should read it again. Fun to read, interesting, though provoking and but mostly just plain inspiring. If you don't have problems with spending too much money no need to read it. If you have tons of money and it's not a problem no need to read it. If you live on a budget like most of it, enjoy. Deserving of its well-regarded status of one of the classics of personal finance.

5

Aug 29, 2012

My brother passed me this book many years ago. His instructions were simple: Read it. It'll change your life.

I read it. Did it change my life? Yes, in a manner of speaking.
There are many of out there who desperately want to learn the basics of handling money. But, pick up the latest drudgery from your local bookstore on the subject, and you'll find yourself wading through terms and calculations that may as well be a foreign language.

The Richest Man in Babylon takes a different approach. It puts My brother passed me this book many years ago. His instructions were simple: Read it. It'll change your life.

I read it. Did it change my life? Yes, in a manner of speaking.
There are many of out there who desperately want to learn the basics of handling money. But, pick up the latest drudgery from your local bookstore on the subject, and you'll find yourself wading through terms and calculations that may as well be a foreign language.

The Richest Man in Babylon takes a different approach. It puts the base concepts of your handling money, and puts them in a story format, whose principles are extremely easy to comprehend (at least as compared to the overblown rationale behind the other financial books) for the layman. Due to their simplicity, the concepts are very memorable and consequently easily recalled after 10 years. The last time I read this book was in 2002, and I can still remember the base concepts from the book:
1. Pay yourself first (Save at least 10% of your paycheck)
2. Don't trust a bricklayer to buy jewels (Don't get caught up in other people's excitement. Go see the experts instead)
3. Don't put all of your eggs in a single basket (Diversify your portfolio).
4. Control thy expenses. (Even the richest man has a time constraint on his life. Do what you enjoy, but don't overdo it)
5. Increase your ability to earn (That one is self-explanatory)
etc.

Keeping these base principle in mind has helped me through these economic hard-times. To me, this book has become required reading for my children and my nephews. ...more

3

Sep 07, 2019

Rating: 3.0/5.0

Genre:
Nonfiction + Business

I picked up this one because I heard many good things about it. I might be a bit late because I feel the majority of the points and lessons discussed by this book are very familiar to me. I found it very interesting to see this book reads more like a fiction. I feel this is good for someone who wants to read and know about all the basics in finance and economics in a simple easy way. One of the main tips that the author insisted on is saving 10% of
Rating: 3.0/5.0

Genre:
Nonfiction + Business

I picked up this one because I heard many good things about it. I might be a bit late because I feel the majority of the points and lessons discussed by this book are very familiar to me. I found it very interesting to see this book reads more like a fiction. I feel this is good for someone who wants to read and know about all the basics in finance and economics in a simple easy way. One of the main tips that the author insisted on is saving 10% of whatever you earn, and then make that saved amount earn further by investing it wisely in something you are aware of. Don't invest your money in something you have no knowledge about or give it to someone to invest it in something he has no enough knowledge about.

“Advice is one thing that is freely given away, but watch that you only take what is worth having.”

Another advice the author gives is controlling the expenditure in different ways. One way is to own your own home instead of living in a rented property and paying the rent. Then there is an important tip of building yourself and your abilities because the more educated and experienced you are the higher will be the chance that you will earn more in the future.

The book is old, written a long time ago. Most of the lessons and advices are still very much valid until this day. But all this is definitely not enough to cover the complex economics of today. You will not find it covering everything that relates to our times. Do I recommend it? Well, yes but not alone. You need to read more books about finance and investments because basics alone are not enough for you to gain the knowledge and expertise that you aim for. I give The Richest Man In Babylon 3.0 stars out of 5.0.

“THE FIVE LAWS OF GOLD I. Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family. II. Gold labor the diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field. III. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. IV. Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep. V. Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.” ...more

3

Nov 18, 2011

This is a great starting item for someone who is pressed for time and doesn't want to read a ton of financial books. While some of the ideas are archaically written, they remain timeless. An obvious one: as a person's wealth rises, so do their expenses.

Translation, if you want to have money, learn to discipline yourself now and not later. Studies show that most lottery winners are bankrupt within a few years and mostly because they lacked self discipline. Therefore, the problem is not the lack This is a great starting item for someone who is pressed for time and doesn't want to read a ton of financial books. While some of the ideas are archaically written, they remain timeless. An obvious one: as a person's wealth rises, so do their expenses.

Translation, if you want to have money, learn to discipline yourself now and not later. Studies show that most lottery winners are bankrupt within a few years and mostly because they lacked self discipline. Therefore, the problem is not the lack of money but how it is managed. Any accountant worth his salt will tell you that.

Keep in mind the story is set in ancient Babylon so if you want something more contemporary, while learning, try RICH DAD, POOR DAD by Robert Kiyosaki. ...more

5

Jan 04, 2008

This review has been hidden because it contains spoilers. To view it, click here. Lo, Money is Plentiful For Those Who Understand The Simple Rules of its Acquisition

$even Cures for a Lean Purse

1. Start thy purse to fattening
For every ten coins thou placest within thy purse take out for use but nine

2. Control thy expenditures

3. Make thy gold multiply
Not only did my capital increase, but it's earnings likewise increased

4. Guard thy treasures from loss
It is wise to be intrigued by larger earnings when thy principal may be lost? I say not

5. Make of thy dwelling a profitable Lo, Money is Plentiful For Those Who Understand The Simple Rules of its Acquisition

$even Cures for a Lean Purse

1. Start thy purse to fattening
For every ten coins thou placest within thy purse take out for use but nine

2. Control thy expenditures

3. Make thy gold multiply
Not only did my capital increase, but it's earnings likewise increased

4. Guard thy treasures from loss
It is wise to be intrigued by larger earnings when thy principal may be lost? I say not

5. Make of thy dwelling a profitable investment
Every man own the roof that sheltereth him and his

6. Insure a future income
A man to make preparation for a suitable income in the days to come, when he is no longer young, and to make preparations for his family should he be no longer with them to comfort and support them

7. Increase thy ability to earn Cultivate thy own powers, to study and become wiser, to become more skillful

Read the book! it's an excellent financial advisor!!!!!!!!!!!!!!!!!!!! ...more

5

May 18, 2012

"...I made a million,today. What did you do?..."


A book review of “The Richest Man in Babylon” by George S. Clason

Have you heard about The Richest Man in Babylon, by George S. Clason first published in 1926, it’s a story that maybe you should read? When I first read this story I was just a young boy, but it still fascinates me now.

My grandfather had given a copy to me to read, and after I finished reading it, I can remember him asking me what I had learnt. I can also remember what I said in "...I made a million,today. What did you do?..."


A book review of “The Richest Man in Babylon” by George S. Clason

Have you heard about The Richest Man in Babylon, by George S. Clason first published in 1926, it’s a story that maybe you should read? When I first read this story I was just a young boy, but it still fascinates me now.

My grandfather had given a copy to me to read, and after I finished reading it, I can remember him asking me what I had learnt. I can also remember what I said in reply.

I explained to my granddad that I understood the wisdom of saving and how Armad the richest man in Babylon acquired his wealth that had spent much of his time teaching others how to become wiser, and I guess wealthier?

You might consider that Arkad was lucky in his life that he was able to accumulate such wealth, but you would be wrong in your thinking. He had a simple philosophy save ten per cent of what you earn and invest, and this is what he did. Every day he taught to the crowd who would gather to listen that his fortune didn’t depend on lady luck, but on wise investment of one’s earnings.

Those bankers which lost billions for their banks recently and had to be bailed out by governments around the world they should read the story about Arkad, but I guess they would be too busy spending their bonuses. I find it difficult to multi-task as well. Even computers cannot multi-task it just appears so.

I wrote an article some moons ago called “Adding Alpha - Do computers have the alpha edge” that discussed how investment banks and institutions in today’s cyber space currently rely heavily on ‘algo trading’ to make money trading in stocks, shares, commodities, currencies. Algo trading is a term used to describe the algorithmic software which is used to gain that alpha edge against an increasing frenetic trading market where milliseconds can mean millions in buy and sell decisions in veiled trading markets. In a previous life, a trader said to me “… I made a million, today. What did you do?” I replied, “I’ve fixed the computer.”

Anyhow, my grandfather said you need to read it again, because you have missed the most important point. This is what I did. Essentially, it’s easy to miss the opportunities that come our way which is the moral of the story.

There’s a Jewish proverb that says, “You don’t need intelligence to have luck, but you do need luck to have intelligence.”

It wasn’t until I understood the importance of critical thinking that I really appreciated the truth in this book. When we make assumptions, we often make the wrong ones.

I hope you enjoy it.
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5

Mar 17, 2013

I have always found books on personal finance exceptionally boring and have avoided reading them because of this.

This book however takes the form of stories from Babylonian citizens each touching on an aspect of personal finance (save 10% of your earnings, don’t rent but rather own property and invest your money wisely so it may grow etc etc)

None of this is new to me however sometimes you need a reminder to jolt you out of bad financial habits.
I can highly recommend this and will be buying it I have always found books on personal finance exceptionally boring and have avoided reading them because of this.

This book however takes the form of stories from Babylonian citizens each touching on an aspect of personal finance (save 10% of your earnings, don’t rent but rather own property and invest your money wisely so it may grow etc etc)

None of this is new to me however sometimes you need a reminder to jolt you out of bad financial habits.
I can highly recommend this and will be buying it as a Christmas present for a few people this year.

Thanks for the recommendation Linda

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4

Dec 28, 2008

This review has been hidden because it contains spoilers. To view it, click here. The Richest Man in Babylon is a fantastic book to change your wealth paradigm. Originally published in 1926 as a series of booklets, the chapters are a little disjointed, but well worth the read. Clason espouses some very simple wealth building principles. First, save 10% for yourself. Secondly, invest 10% with the advice of knowledgeable and prudent advisers. Finally, he recommends using 20% of your income monthly as payments to get out of any debt you may have. Clason recommends distributing The Richest Man in Babylon is a fantastic book to change your wealth paradigm. Originally published in 1926 as a series of booklets, the chapters are a little disjointed, but well worth the read. Clason espouses some very simple wealth building principles. First, save 10% for yourself. Secondly, invest 10% with the advice of knowledgeable and prudent advisers. Finally, he recommends using 20% of your income monthly as payments to get out of any debt you may have. Clason recommends distributing this debt payoff amount evenly between all outstanding debts, thus paying them simultaneously. The remaining 60% can be used for living expenses. He encourages thrift and fortitude to lift oneself to wealth and warns against gaining wealth quickly.

This book is applicable today when so much of the nation is in debt and living from one paycheck to the next. Many delightfully told stories of lifting oneself from poverty and dishonor to hard-won wealth sympathize with our situation and encourage diligent effort.

One piece is missing: the tithe. A 10% donation to God will certainly yield greater benefit than any investment. Also, after debt payoff, increasing donations and/or investments and continuing to live on 60% of your income would be a good idea. ...more

4

Apr 25, 2008

Clason’s (22-42) "Seven Cures for a Lean Purse" chapter gives you a good overview of the book. The seven principles mentioned are the following:
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. Insure a future income
7. Increase thy ability to earn

Average American spends $ 1.22 for every dollar they make (Parker). For all the indebted people Clason (108) writes that you should save Clason’s (22-42) "Seven Cures for a Lean Purse" chapter gives you a good overview of the book. The seven principles mentioned are the following:
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. Insure a future income
7. Increase thy ability to earn

Average American spends $ 1.22 for every dollar they make (Parker). For all the indebted people Clason (108) writes that you should save 10 %, pay 20 % to your debtors, and live with the 70 %. ...more

3

Jul 08, 2015

#book-vipers-book-hunter: MAN

George S. Clason published a series of pamphlets beginning in 1926 with financial advice couched in Babylonian parables, which were later combined in book form and given the title, The Richest Man in Babylon. Very basic advice and somewhat dated and repetitious, but I can't help thinking that these 'rules' he put forth should be taught in schools as good advice for beginner's handling money.

Our financial advisor gave us two copies of this slim book for our daughters #book-vipers-book-hunter: MAN

George S. Clason published a series of pamphlets beginning in 1926 with financial advice couched in Babylonian parables, which were later combined in book form and given the title, The Richest Man in Babylon. Very basic advice and somewhat dated and repetitious, but I can't help thinking that these 'rules' he put forth should be taught in schools as good advice for beginner's handling money.

Our financial advisor gave us two copies of this slim book for our daughters and their husbands and I slipped them into their Christmas stockings this past year. One read it and is following the advice closely, crediting it for their improved financial situation, while the other hasn't yet bothered to read it.

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5

Nov 25, 2019

The edition I read was a little shorter than most. This is what my teacher had to say about the missing sections.

"This edition skips the following sections in other editions: (1) An Historical Sketch of Babylon; The Man Who Desired Gold; and The Walls of Babylon. The first conveys nothing of importance about investing. It is amateur history. The second merely sets the fictional story of the main character. The third is a disguised promotion of "whole life" life insurance policies, which I do The edition I read was a little shorter than most. This is what my teacher had to say about the missing sections.

"This edition skips the following sections in other editions: (1) An Historical Sketch of Babylon; The Man Who Desired Gold; and The Walls of Babylon. The first conveys nothing of importance about investing. It is amateur history. The second merely sets the fictional story of the main character. The third is a disguised promotion of "whole life" life insurance policies, which I do not recommend."

So my rating is a representative of what I thought of the rest of the book. I highly recommend this book. It is a good way and easy way to start accumulating wealth. It is worth a buy and the principles included in the book are not hard to implement.

This should be mandatory reading for all high schools! There is lots of good advice that teenagers could benefit from. It is very cautionary against debt and borrowing for consumer purposes and very adamant about saving 10% of all you earn and getting this 10% to work for you. Great read! ...more

5

Sep 25, 2019

25 Sept. 2019 - Finally read this little classic. It had been on my "To Read" shelf for over 30 years, but a combination of factors finally got me to read it. Very glad I did. What a great little gem. So many people over the years had referred me to this, that I am embarrassed to say it took me so long to get to. However, fortunately, I had read other books and taken other wise soul's advice that covered much of this book's wisdom previously, that I was not unduly harmed by putting it off.

25 Sept. 2019 - Finally read this little classic. It had been on my "To Read" shelf for over 30 years, but a combination of factors finally got me to read it. Very glad I did. What a great little gem. So many people over the years had referred me to this, that I am embarrassed to say it took me so long to get to. However, fortunately, I had read other books and taken other wise soul's advice that covered much of this book's wisdom previously, that I was not unduly harmed by putting it off.

However, for younger readers, or for those who may not have been so lucky as me to have received such good advice early, I highly recommend this easy to read, yet full of profound guidance book and it's simple lessons.

The style may be a bit quaint for some, but I found it very helpful and fun, even in this day and age.

There may be some better arguments for some of the principles, but that is a minor thing.

There may be some arguing with some of the scope or applications of the principles, around the edges, but the basics are solid and will serve as excellent guides through life.

Should be especially good for teenagers and 20-somethings who may never have received these excellent guides to financial independence and success, but if you are older or younger and have the opportunity and desire to check this out -go for it for sure!

Let me just give you the first guide, since it is so important, and leads to the others:

"A part of all you ear is yours to keep. It should be not less than a tenth no matter how little you earn. It can be as much more as you can afford. Pay yourself first."

Simple. Difficult at first to implement. But the more it becomes a simple habit, the easier and more rewarding it gets. Go for it. ...more

4

May 10, 2011

This book teaches timeless financial wisdom in the form of fictitious parables set in ancient Babylon. I found the stories entertaining and the financial lessons as valid today as they were in Babylon millennia ago.

There’s nothing groundbreaking here, but that doesn’t lessen the value of the simple financial basics: pay yourself first (at least 10%), live on less than you earn, get advice from financially competent people, and put your money to work through cautious investing.

The book recommends This book teaches timeless financial wisdom in the form of fictitious parables set in ancient Babylon. I found the stories entertaining and the financial lessons as valid today as they were in Babylon millennia ago.

There’s nothing groundbreaking here, but that doesn’t lessen the value of the simple financial basics: pay yourself first (at least 10%), live on less than you earn, get advice from financially competent people, and put your money to work through cautious investing.

The book recommends enjoying life, and not working so hard to amass wealth that you become miserly. It says that to succeed, you must have strong, definite desires and ambitions, not vague dreams. The story of the goddess of good luck teaches that you must always be prepared for opportunity, because luck rewards men of action.

I first heard about this book on the Open for Business podcast. When an investment manager recommended it too, I decided to read it. I'm glad I did!

My favorite chapter was Seven Cures for a Lean Purse. Here are the lessons:

• Start thy purse to fattening: save 10% of all you earn
• Control thy expenditures: budget 90% of earnings to cover necessities and luxuries
• Make thy gold multiply: put money to work by investing
• Guard thy treasure from loss: seek financial advice and make wise investments
• Make of thy dwelling a profitable investment: own your home to decrease living costs and increase enjoyment (compared to renting)
• Ensure a future income: plan for the future financial well-being of yourself and family
• Increase thy ability to earn: increase your skills through study and practice ...more

1

Oct 27, 2014

Horribly written and hard to follow. Maybe would have been a good read in 1927.

5

Jul 18, 2012

It teaches the values of saving, overcoming poor habits such as procrastination & being able to take advantage of opportunities


The Richest Man In Babylon by George Clason was originally written in 1926. Through the narratives of Bansir, and his broke musician friend, we can see the standard folk who try to figure out how to get out of debt, the salary slavery and to finally attain wealth. Clason also uses the narrative of the richest man in Babylon Arkad who was initially poor but later It teaches the values of saving, overcoming poor habits such as procrastination & being able to take advantage of opportunities


The Richest Man In Babylon by George Clason was originally written in 1926. Through the narratives of Bansir, and his broke musician friend, we can see the standard folk who try to figure out how to get out of debt, the salary slavery and to finally attain wealth. Clason also uses the narrative of the richest man in Babylon Arkad who was initially poor but later learnt how to accumulate wealth. Through Arkad, the rest of Babylon gets to understand the secrets of wealth accumulation.

Clason's book is a timeless classic and most of its message still holds true today. It teaches the values of saving, overcoming poor habits such as procrastination and being able to take advantage of opportunities. It is amazing how he was able to vividly elucidate the Babylonian lifestyle, as if he were there in that society. However, importantly, he was able to bring out these timeless values that anyone can apply today and in years to come. It is interesting that the ancient idea of compounding is what we today see as saving or making an investment.

I highly recommend this simple book to anyone who may be looking for inspiration on how to accumulate wealth. Nevertheless, the idea here is to put what you learn into practice to see any results.
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4

Sep 27, 2012

A great little book I've read umpteen times. It reads beautifully and is packed with wisdom, truth, great knowledge, and profound insights.

1

Apr 13, 2017

Meh , that is the best way to describe this book. This may be due to the fact that everything that was disucssed is fairly common knowledge and most people practice these concepts or know to practice these concepts. They may not have been common at the time, but doent explain how this book has such a high rating. The concepts being wrapped in a 'theme' of sorts just made it harder to follow along at times since the style or writing is quite old. The age of this book shows it self even more by Meh , that is the best way to describe this book. This may be due to the fact that everything that was disucssed is fairly common knowledge and most people practice these concepts or know to practice these concepts. They may not have been common at the time, but doent explain how this book has such a high rating. The concepts being wrapped in a 'theme' of sorts just made it harder to follow along at times since the style or writing is quite old. The age of this book shows it self even more by the fact that it doesnt address any of the issues that people face in our current age (an example of this is rampant consumerism and excesive use of interest based finance). ...more

5

Jul 23, 2012

This tiny book is a classic. It is a classic because it tells you a classic story about the most important thing anybody should know about finance ie The Golden Rule of Saving.

The language is biblical yet so easy to understand. Excellent read.

4

Jan 22, 2017

"If determination is there, ways can be found"

This classic poetic map, helping us to discover and reap the treasure of finances, teaches through tales one can only imagine to be too idealistic to be true at the face of it. Cardinal rules, conjured even before the birth of Christ, will take you through the world of trade, money and gold in ever so entertaining ways beyond one's wildest imaginations.

The rules have stood the test of time as it has been documented at the end of the book that how the "If determination is there, ways can be found"

This classic poetic map, helping us to discover and reap the treasure of finances, teaches through tales one can only imagine to be too idealistic to be true at the face of it. Cardinal rules, conjured even before the birth of Christ, will take you through the world of trade, money and gold in ever so entertaining ways beyond one's wildest imaginations.

The rules have stood the test of time as it has been documented at the end of the book that how the archaeologists who found the clay tablets upon which these rules were documented practiced these rules and were able to gain control of their finances in ways incomprehensible to them before. They used these ways and were surprised to see the results as they simultaneously built on their corpus, returned back their loans with due diligence and also comfortably carried on with their daily needs being met periodically without a hitch.

Now the burning question- What the hell are these rules which even after 8000 years hold ground? Well there are umpteen of them in the book but some of them one must be exposed to so as to feel the golden rub off:p so here comes:-

1) You should always pay yourself no less than one tenth of whatever you earn. I know some of you might be feeling disappointed but that's true guys. Life is simple and coming to simple conclusions only will bring in sense to your life. The first question that I had in my mind after reading this was that if I'm getting the whole income, what is the meaning of paying one tenth of whatever I earn to myself? Well to clear the smoke on that, your expenses on things such as rent, food, objects etc don't count as a payment to yourself because they go as they come. These things should be accounting to 70% of your salary. There is an assumption here that everyone must be having some or the other obligations to fulfill so 20% should be kept for that whereas the last 10% should be kept only for you.

2) Control thy expenditures. There is a big difference between your burning desires and fleeting wishes that keep you enslaved on a daily basis. These are the very vicious wishes that leads one's boat to the rocks of loss and remorse. This is a very difficult part as differentiating between the two is the first step towards controlling your expenditures. One way to evaluate between the two is to imagine whatever you wish for and ask yourself how would your life be affected if this wish is not fulfilled and if the answer is 'nothing much' then it is not worth pursuing.

3) Multiply thy gold. If your money doesn't earn money for you then it is speaking to you in a language you don't understand. Consider money as your employee which will give birth to kids which will further work to produce more kids unless you have a big army such that in-Toto they become river of gold for the rest of your life. Money kept idle is a wasted ammunition and as we all know idle money looses its value faster than we know.

Fickle Fate, as many people claim, is the name of the game in earning money but whosoever has fallen into the clutches of this goddess has seldom lived to tell the story. Opportunity my friends is a gorgeous goddess who pays visit to all but the problem is she is impatient and doesn't like to waste her time for those who are unprepared. The time has come to ask oneself- "Do we have the soul of a slave or of a free-man?" at the end of the day we are nothing but the choices that we have made:)
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3

Mar 05, 2012

OK, I didn't even finish the book because I've heard it all before. Besides, here it's told in a story which is nice if you need to know about how to acquire money, keep it, and make your money earn more money, especially if this is your first book on the topic, find the topic boring, and need a story to entertain to get it across. This is just one of thousands of books that speaks on this material. I found it rather repetitive and corny in its story form. Other books you might be interested in OK, I didn't even finish the book because I've heard it all before. Besides, here it's told in a story which is nice if you need to know about how to acquire money, keep it, and make your money earn more money, especially if this is your first book on the topic, find the topic boring, and need a story to entertain to get it across. This is just one of thousands of books that speaks on this material. I found it rather repetitive and corny in its story form. Other books you might be interested in that are more fact based and driven are Secrets to Creating Wealth: Learn How to Create Outrageous Wealth with Only Two Pennies to Rub Together; Think and Grow Rich; The Science of Getting Rich, How to Get What You Want; Secrets of the Millionaire Mind; on and on.

Like I said, there have been thousands of books written on the topic. Why this one is so popular, not sure. It has been around a long time, first published in 1926 and re-printed a dozen times; it's a very short, easy read, and, like I said, it's in story form. So maybe all that adds to it, but I'd rather just have the facts. I don't need story. When things are written like this and I'm looking for information, I have a tendency to skip around a lot. Or, like in this case, just drop it after a few dozen pages because I've heard this stuff many times before.

If you don't know much about the topic, I say give it a read through. But be warned, it is not the end all and cure all on such a complex topic. To understand any topic of complexity you have to read many books, for there is author bias, blind spots (few of us know it all), and complexity. Few books can cover all angles well. But to give you an idea about what this book covers, here it is:

1) Start thy purse to fattening - save/invest
2) Control thy expenditures - watch out for self serving brokers
3) Make thy gold mutiply - use powerful investments
4) Guard thy treasures from loss - watch out for brokers with
their hot tips.
5) Make of thy dwelling a profitable investment - rental properties, your own home---but stay within your means.
6) Insure a future income - do work that you love to do. Become excellent at it.
7) Increase thy ability to earn - education never stops. Keep reading good books like this one, The Millionaire Next Door, Rich Dad Poor Dad and so on.

But anyone who has made money will tell you, there's much more to it than just what is stated here. Also much depends on the individual: talents, gifts, upbringing, mental maturity and stability, focus, ability to deal with and prosper from failure, motivation, on and on. Many have read books, gone to seminars, listened to CDs, watched DVDs, got it all, got it all down pat but never do anything with it. If it was that easy to make money and get rich, most would be doing it. There is a LOT that is not covered here. Another point to consider that there are as many ways to gain riches as there are people to gain them. YOU have your road map to riches and wealth within you; it is a very individual based path. But when all is said and done, if you just focus on money, you've missed the point all together. Peace! ...more