What can we learn from The Richest Man in Babylon by George Samuel Clason?

Unless one was born with a silver spoon, most people struggle to make ends meet. While many things in life are relative, even the relatively wealthy worry about their children.

I agree with Arkad that wealth, if it did not actually create happiness, certainly enhanced the quality of life. Money is not everything, but almost everything — from the cradle to the grave — requires money.

When I was young, I heard about the hanging gardens of Babylon — one of the Seven Wonders of the Ancient World. What can we learn from the richest man in Babylon?

Pay yourself 1st. Save. Do not allow expenses to eat up whatever you earn. My parents mentioned that hard-working people of their generations saved 90% of what they earned. However, in the process of saving, as Arkad’s money-lender mentor adviced, we must also enjoy life and not to strain too much for the sake of saving. Based on my life experience, many enjoyable things in life cost nothing or little. For example, fresh air (depends on where you live), reading, simple exercise @ home.

Live within our means. Save at least 10% of our earning. We can control our expenditures.

Faith on the Universe. Trusting in God as the source of your supply will bring us unexpected gains. It is also necessary to increase our knowledge of the earthly world’s financial ways and laws.

Protect your capital. Guard thy treasures from loss

Protect ourselves and our loved ones. Insurance is a way. Although I do not 100% trust insurance (news of rejected claims, knowing that the main aim of insurance companies is to make profits), I still have insurance to protect my family.

Pay our debts. We are striving to be free of debts!

Educate ourselves or rely on those who are educated in the investment we are interested in. By becoming wiser, more knowledgeable and skilful, we are increase our ability to earn.
Be kind with a protective shield. If you desire to help thy friend (e.g. giving a loan), do so in a way that will not bring thy friend’s burdens upon thyself. Better a little caution than a great regret.

Finally, work! Treat work as our friends. Megiddos like to work and to do good work, he believes that work had brought him all the good things in his life that he’d ever had. He reminds me on my mother, a very hard-working woman.

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5 comments

  1. […] my mother who has spent years of her life working hard and living frugally for us, has kindly encouraged me not to hesitate to spend on healthy food for the sake of our […]

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  2. […] for the rainy days. Invest in yourself (as highlighted by Andrew Carnegie and the richest man in Babylon) and invest to allow $ to create $. Learn and street-smartly practice economy and […]

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  3. […] Be aware of many enjoyable things in life that cost nothing or little. […]

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  4. […] Be aware of many enjoyable things in life that cost nothing or little. […]

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  5. […] for the rainy days. Invest in yourself (as highlighted by Andrew Carnegie and the richest man in Babylon) and invest to allow $ to create […]

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