summary of the richest man in babylon
Wealth isn’t about luck; it’s about money habits that have worked for a long time and that anyone can learn. This book tells the universal laws of prosperity through stories from ancient Babylon.
7 Important Rules for Getting Rich (Babylonian Style):
1. “Pay Yourself First” (Put Money in Your Own Pocket First)
Before you buy anything else, put 10% of what you earn into savings.
“Some of what you make is yours to keep.”
2. “Control Thy Expenditures” (Live Below Your Means)
Plan your budget carefully, putting needs before wants.
“What we all call our ‘necessary expenses’ will always be equal to our incomes.”
3. “Make Thy Gold Multiply” (Invest Wisely)
Use your savings to make money by investing in safe ways.
An example from Babylon: lending to businesses that make shields (which have a proven need).
4. “Protect Your Treasures from Loss” (Stay Away from Get-Rich-Quick Schemes)
Don’t put money into things you don’t understand.
“The first rule of investing is to protect your principal.”
5. “Make of Thy Dwelling a Profitable Investment” (Own, Don’t Rent)
Make owning a home your top priority. It’s a way to save money and protect yourself from inflation.
6. “Plan for Retirement” (Make sure you have a future income)
Make money that will last so you can take care of yourself when you’re older.
“The goddess of good luck likes men who take action.”
7. “Increase Thy Ability to Earn” (Always Work on Yourself)
Learn useful skills that will help you make more money.
“The more we know about wisdom, the more we can make.”
The Clay Tablets Story is one of the three most powerful parables.
A rich moneylender teaches a poor scribe the 5 Laws of Gold, which changes his life.
The Most Fortunate Man in Babylon
A slave can get freedom and wealth through hard work, not luck.
The 5 Gold Pieces Rule
Any man can get rich again by following basic rules all the time.
Modern Uses: The 10% rule means that 10% of your paycheck goes straight to savings.
“Gold multiplying” means investing in index funds.
“Guarding treasure” means not gambling on crypto or meme stocks.
“Wealth grows wherever men work hard and think wisely.”
Why Should You Read This Book?
For easy-to-understand, story-based financial truths that are better than today’s “secrets to riches.”
Great for people who are young and making money, people who are in debt, or anyone who thinks they’re “bad with money.”