The Richest Man in Babylon by George S. Clason
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Book Reviews of The Richest Man in Babylon
Book Review: The Secret of Having Good Luck
Summary: 5 Stars
The Richest Man in Babylon is a fable that lucidly illustrates why some men attract wealth and success almost effortlessly while others struggle for a lifetime and get nowhere. If you want the secret of the Midas touch and to have the "luck of the Irish", then you will find what you are looking for in this little book. You could easily read it in one sitting and be changed forever. Get it. It is absolutely delightful!
Other books on this genre that you will enjoy equally as well are:
Start Late, Finish Rich: A No-Fail Plan for Achieving Financial Freedom at Any Age (Finish Rich Book Series)
The Power of Perpetual Income (Wealth Building Volume 2) How to transform your spare time into a cash machine.
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth
Thank you, Mr. Clason for this charming and enlightening fable.
Book Review: Best personal finance book ever
Summary: 5 Stars
I've been reading lots of personal finance books and this was absolutely the best one. I've given it to my mom to read. I'm buying copies for everyone who asks me for financial advice. I just graduated with an MBA- and apart from my major college loan debt I wanted to figure out a strategy to deal with quickly, because I work as a financial advisor with people who have major debt and nothing saved- this book has an amazingly simple startegy that could help them and me. Basically it tells you to save 1/10 of every paycheck. Send 2/10 to pay debts and fit all your expenses into 7/10 of every pay check.
You'll grow in worth (because of the 1/10 put away every pay check), your debts will reduce overtime because of your 2/10 of your paycheck sent to them. Deciding you have to teak your expenses to fit into 7/10 your pay check is a much more organized way of doing your finances rather than the sloppy "I'll save if anything gets left over"- which never happens.
Also because it's an old book, it explains the ideas behind financial concepts in simple words rather than using hard words that economics majors like me had to cram before exams and nobody else understands.
Book Review: I cannot believe what I just read. WOW!!!
Summary: 5 Stars
I have just finished this book and I cannot believe what I just read. It has been the best financial advice that I have ever received. I have read this book 2 or 3 times, and always find something new to consider. In fact, I've given this book to both employees and peers who had complained to me about personal finances. Also an excellent and practical advice for high school and college students before they start their first real job.
By the way, check out these great personal study edition books (including a DVD Title):
Think And Grow Rich: The Personal Study Edition
The Master Key System: The Personal Study Edition
Path To Prosperity - Mastery Of Destiny - Acres Of Diamonds: The Personal Study Edition
The Science of Getting Rich: The Movie - 2 Disk Set
Book Review: A must read for any teenager or young adult!!!!
Summary: 5 Stars
Every 18 year old should have these concepts about money ingrained in their mind! This title is an amazing set of parables describing how great leaders of Ancient Babylon went from rags to riches... by following simple rules of money.
"Start thy purse to fattening" is the first rule we learn. Through a fascinating and believable story of Arkad, we learn that "a part of all you earn is yours to keep". I immediately connected with Arkad, because he and I both thought all of my earnings are mine to keep. Algamish, the money lender, said to Arkad "Do you not pay the garment-maker? Do you not pay the sandal-maker? Do you not pay for the things you eat? Can you live in babylon without spending? You pay to everyone but yourself... If you did keep for yourself one-tenth of all you earn, how much would you have in 10 years?"
This is the first of many valuable lessons I learned from these priceless parables. I can say if I read this book 7 years ago when I was 18, My assets would be at least $50,000 more today. I am very grateful I have across this material today, for my financial future will be significantly changed for the better!
Book Review: Especially interesting and relevant
Summary: 5 Stars
What can I say that hasn't already been said? This book is great.
I've read many books on finance and investing, and just when I was getting jaded, this gem popped up. The title kept jumping out when I did on-line searches, and I finally decided to see what all the fuss was about.
This book was written in 1926, and I guess that is what took me so long to buy it. I figured that times changed, and it would be out of date, and only recommended as a "quaint" or "nostalgic" investing book.
I couldn't have been more wrong. This book is as true today as it ever was, and the "parable" style of the book makes it way more interesting than most books on finance. It is a great introduction to saving, and makes a great read (regardless of your level of financial knowledge).
If you don't know where to turn financially, and don't understand how to "get ahead", do yourself a favor and read this book. If you take it to heart, it really will help!
(One last thing, one other book written in the same era that is just as relevant and entertaining is "Where are the Customers' Yachts?")