The Richest Man in Babylon by George S. Clason
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Book Reviews of The Richest Man in Babylon
Book Review: Motivating a Wealth Mentality!
Summary: 5 Stars
I read this book back in 1994. It has much timeless knowledge.
The Richest Man in Babylon is an inspirational book on helping to create an investment mentality by using parables of how the Richest Man in Babylon would have invested. It is for beginning investors who need good reasons to develop a proper mindset to start working towards becoming financially independent. It also is a good book for recharging a wealth mentality in any investor.
The concepts in the book are simple, but their effects on wealth are profound! For example, George Clason covers The Five Laws of Gold. From the version I read, they are:
I. Gold cometh gladly and in increasing quantities 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 laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks in 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.
Overall an excellent book for beginners though advanced investors.
The Re-Discovery of Common Sense: A Guide to: The Lost Art of Critical Thinking
Book Review: Shouldn't this be in your libray?
Summary: 5 Stars
This is a parable about how a poor babylonian became so wealthy the king asked him to tell his story and help others with saving for the future. This is purly a commonsence appoach to the age old question of how to become wealthy. The book stresses saving; reduction of expences; protection from future loss. The solutions are definate not for some one to get rich quickly as these rules are to sustain us the rest os our lives.
The book give us the seven rules of money aquistion as its montra. They are;
1. Start thy purse to fattening= work
2. Control thy expenditures= reducing expences
3. Make Gold Mulitply= investing and saving
4. guard thy treasure from loss= understanding the risks to your
investments
5. Insure for the future= Insurance needs
6. Make thy dewelling a profitable investment= increase the value of
you home.
7. Increase your ability to earn= look for opportunies where they lay.
George Clason achieves this by telling stories which seem simple, but are quite powefull if you can grasp the concepts. You will learn;
1. The seve cures for a lean Purse
2. The five laws of gold
3. What does luck have to do with being wealthy
This is recomende to people wwho want to learn about getting wealthy with out dry charts, boring examples or bad advice.
This is a great book on personal finances you will need in your journey toward wealth. This is a must own book for all who want to be wealthy.
Book Review: Timeless Wisdom for Financial Success
Summary: 5 Stars
"The Richest Man in Babylon" along with "The Baron Son" by Vicky Therese Davis are two of my favorite financial parables. While one appreciates "The Baron Son" for its depth, one will also appreciate "The Richest Man in Babylon" for its simplicity.
For those that wish understand how to make money work for them, this is a great financial start.
The book's core principles can be summarized into its 7 Cures for a Lean Purse:
1. Start thy purse to fattening - Save 10 % of your income
2. Control thy expenditures - Budget effectively so that you may have the coins to pay for expenses and worthwhile desires without spending more than 90% of your earnings
3. Make thy gold multiply - invest your savings to build a stream of income
4. Guard thy treasure from loss - Protect yourself from unwise investments and invest only where your money will be safe
5. Make of thy dwelling a profitable investment - It is recommended that every person own their own home
6. Insure a future income - Provide in advance for your needs in old age and the protection of your family
7. Increase thy ability to earn - Through study, become wiser and more skillful so that you will always be in the forefront of progress
Ultimately, this fun guide to financial understanding will show you very simply how to acquire, retain, and grow your earnings. Read it, and learn why millions of others have been inspired to change their spending and investing habits with these ancient secrets of success.
Book Review: A Lean Purse is Easier to Cure than To Endure
Summary: 5 Stars
My title is a maxim that Clason wrote in the inside title page of this book. This is truly my favorite book on how to handle money in your life! Clason uses the language of the King James Version of the Bible (although this book is not at all biblical) to create anecdotes set in ancient Babylon that tell you (the modern-day reader) how to handle your money. The amazing thing is that the advice is not at all outdated. It's right on the mark and shows money knowledge that hardly is taught in school. It's easy to read and understand and highly entertaining. In fact, one of its stories, "The Luckiest Man in Babylon" is almost enough to bring you to tears.
It is shown in this book that when you are in debt, you are a slave to what it is that you agreed to go into debt for and you must pay it off to regain your freedom (are you a five-year slave to a car [or the institution that financed it] like I was?). Look at the state of the nation's economy and you'll see we live in a nation of slaves.
That's why you must get the reverse into action; make money a slave that is working for you.
Many people have heard the popular phrase from this book, "pay yourself first." I highly suggest you read this book first so you can see how you should go about paying yourself first; there is a method to it.
This book is truly a classic and should be required reading for all classes on money or for anyone going into business for oneself. If you're getting into Network Marketing then you've really got to read this book.
Book Review: Powerful principles that can le ad you to financial self-reliance
Summary: 5 Stars
This is the type of education that should be but is not taught in schools. I first heard about this book back in the 1970s when I was involved in my first network marketing company. Fortunately, the people associated with that company taught more than just use the company products and put all of your money into company material.
Many years later, I attended a seminar and met the great Jim Rohn. If you have ever heard Jim Rohn speak, then you know that this is along with Think & Grow Rich one of his must read books, the book his mentor Mr. Earl Schoff told him about and the book that allowed Jim Rohn to become financially independent in only 6 years.
Don't let the size of this book fool you---it is packed with powerful information. It is must reading. This book is the basis of many of the top financial experts from Charles J. Givens who calls it "The 10% solution" through Suze Orman, Dr. Stanley "The Millionaire Next Door" up to David Bach "The Automatic Millionaire." I don't know of anyone who has amassed any real level of wealth without practicing these principles.
It's a small book. An easy read. You can finish it in one evening. But if you use it, you can amass a fortune.
Jim Rohn says he has recommended this book at his seminars, in his books and on his tapes for nearly 40 years and best as he can tell only about 3% actually go out, buy the book and actually read it and apply the techniques. So I SAY TO YOU, BE ONE OF THE 3%!
Great book. Highly recommended.