The Richest Man in Babylon
The ancient city of Babylon was the wealthiest city that has ever been on earth.
In that city was a wise man named Arkad – who was the wealthiest of all.
He scribed 7 cures of a lean purse.
If any citizen does nothing but follows these 7 steps their purse will start fattening.
The prescription Arkad gave for a thin purse applies even today.
Anybody who applies these 7 steps can get themselves a fat purse almost guaranteed.
Here are the 7 cures by Arkad:
- Start the purse to fattening – Set aside at least 10% of your income every single month. Learn to live with just 90% of your income.
- Control thy expenditures – Budget wisely, spend less & only buy necessities.
- Make the gold multiply like the richest man in Babylon – Invest your savings in places where it makes your wealth grow & compound.
- Guard the treasures from loss – Don’t fall for any “get-rich-quick” schemes. Invest your money wisely in places you for sure will give you good returns.
- Make the dwelling a profitable investment – Buying is better than renting, Arkad suggests you need to own your own home to increase your wealth creation process.
- Insure a Future Income – You won’t be young & working forever. Arkad recommends planning your retirement in advance. You should be contributing to a retirement fund in place.
- Increase The Ability to Learn – The more skills & wisdom you have, the more you can learn. Simple. So make sure you constantly develop your skills to make more money.
So those are the 7 steps suggested by The Richest Man in Babylon to fatten your purse.
Use it wisely.
Book Name: The Richest Man in Babylon
Author Name: George S. Clason
Who is This Book For: For those who are keen on getting their finances in place.