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The Richest Man in Babylon PDF
[PDF] The Richest Man in Babylon PDF
Author: George S. Clason
No. Of Pages: 122
PDF Size: 588 KB
Language: English
Category: eBooks & Novels
Source: Drive Files
The Richest Man in Babylon PDF

The Richest Man in Babylon PDF

This is my synopsis of George S. Clason’s The Richest Man in Babylon. My notes are casual, and they often include both passages from the book and my own opinions. This summary also contains key takeaways and notable excerpts from the book.

  • The seven basic laws of money are as follows: 1) Begin fattening thine purse by saving money. 2) Keep a close eye on your spending: don’t go overboard. 3) Make thine gold increase by carefully investing. 4) Protect your wealth by avoiding investments that seem to be too wonderful to be true. 5) Own your house and turn it into a successful venture. 6) Protect yourself with life insurance to ensure a future income. 7) Increase thy earning potential: work on being smarter and more knowledgeable.
  • You must be financially successful in order to realise your aspirations and desires.
  • The rules of money are similar to the laws of gravity in that they are certain and constant.
  • Money is abundant for people who grasp the basic rules of money earning.
  • Because its inhabitants understood the value of money, Babylon was the richest city in the world at the time of its peak.
  • You must have a steady source of money to keep your wallet full.
  • “Asking smart counsel from a close friend costs nothing.”
  • It’s a simple statement, yet many individuals never attain a significant level of wealth because they never set out to do so. They never go out of their way to find it, concentrate on it, and commit to it.
  • Youth often thinks, mistakenly, that the aged and knowledgeable only have knowledge of the past.
  • You will only begin to accumulate riches once you comprehend that a portion of every dollar you make is yours to retain. To put it another way, pay yourself first. You constantly have to pay for other people’s products and services. Make as much money as you can for yourself. Spend less money.
  • You should save aside at least a tenth of your earnings. If you can, spend even more.
  • Don’t accept financial advice from a bricklayer. If you need professional guidance, go to those who are specialists in that field. It’s much too simple for novices to provide counsel.
  • Build a pile of gold for yourself first, then relax and enjoy as many dinners as you like. Don’t spend your money just after you get it.
  • Surround yourself with people who understand money, who deal with it on a daily basis, and who make a lot of it.
  • While you’re here, make the most of it. Don’t put too much pressure on yourself to save money.
  • Do not invest in assets that do not provide a dividend, but also do not invest in dangerous opportunities that seem to be too good to be true.
  • Unless you fight the desire, what you label “essential costs” will constantly expand to match your income. Don’t get your necessities mixed up with your wants.
  • “A man’s riches does not reside in his wallet. It’s a part of his earnings.”
  • Ensure a steady stream of revenue in the future. Everyone becomes old. Ascertain that your money will continue to flow even if you are not working.
  • Invest in life insurance. Make provisions for your family’s safety ahead of time.
  • Increase your earning potential. Enhance your abilities. Your opportunity to make more money grows as you improve your trade.
  • The more we learn, the more money we can make. A person who wants to learn more about their trade will be able to make more money.
  • You won’t be able to achieve your full potential unless you kill the spirit of procrastination inside you.
  • Gold’s Five Laws: 1) For someone who saves at least a tenth of their wages, gold comes effortlessly and in growing quantities. 2) Gold works hard and multiplies for the individual who is able to put it to good use. 3) Wealth clings to the individual who invests their gold with intelligent people for safety. 4) Gold eludes the individual who invests in it for objectives with which they are unfamiliar. 5) Gold runs away from everyone who attempts to compel it into unattainable profits.
  • If you want to support a buddy, don’t do it in a manner that puts their troubles on your shoulders. There are several methods to assist others. You are not obligated to make decisions that limit your time, money, energy, or capacity to care for yourself.
  • If the investment fails, the savvy lender always has a guarantee of repayment.
  • Above all, you should want your money to be protected. A little prudence is preferable than a lot of regret.
  • Take out insurance to protect yourself. You can’t afford to be vulnerable.
  • Don’t go overboard with your spending.
  • If a person does not pay his bills, he has no respect for himself.
  • A free man’s spirit sees the world as a collection of challenges to be addressed. Meanwhile, a slave’s spirit moans, “What can I do?”
  • “Wherever there is a will, there is a way.”
  • If you’re in debt, try to live on 70% of your income. You should set aside 10% for yourself. Use the remaining 20% to pay off your bills.
  • Stick to your game plan. With dedication and regularity, money accumulates rapidly and debts are swiftly paid off.
  • Friends are drawn to you because of your hard work. Work brings in money and opportunities. “Hard work has always been my best buddy.”

About The Author – The Richest Man in Babylon

On November 7th, 1874, George Samuel Clason was born in Louisiana, Missouri. During the Spanish-American War, he was a member of the United States Army and attended the University of Nebraska. He formed the Clason Map Company in Denver, Colorado, where he produced the first road atlas of the United States and Canada. He published the first in a renowned series of booklets on economy and financial success in 1926, illustrating each point with parables set in ancient Babylon. The most famous of these was “The Richest Man in Babylon,” the parable from which the current collection draws its title. These were disseminated in great numbers by banks and insurance firms and became known to millions. This collection of “Babylonian tales” has become a modern-day inspiring classic.

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