Lessons from The Richest Man in Babylon

http://www.goodreads.com/book/show/1052.Richest_Man_in_Babylon

The book tells about the journey to success of the the richest man in Babylon named Arkad. His wealth principles are simple – so simple that anyone who doesn’t realize it’s simplicity can’t correctly build his foundation.

I am to share the seven lessons in the book which the author called the ‘Seven Cures for a Lean Purse.’ I hope we all learn from them.

1. Start thy purse to fattening

For every ten coins thou placest within thy purse take out far use but nine. Thy purse will start to fatten at once and its increasing weight will feel good in thy hand and bring satisfaction to thy soul.

2. Control thy expenditures

Budget thy expenses that thou mayest have coins to payfor thy necessities, to pay for thy enjoyments and to gratify thy worthwhile desires without spending more than nine tenths of thy earnings.

3. Make thy gold multiply

Put each coin to labouring that it may reproduce its kind even as the flocks of the field and help bring to thee income, a stream of wealth that shall flow constantly into thy purse.

4. Guard thy treasure from loss

Guard thy treasure from loss by investing only where thy principal is safe, where it may be reclaimed if desirable, and where thou will not fail to collect a fair rental. Consult with wise men. Secure the advise of those experienced in the profitable handling of gold. Let their wisdom protect thy treasure from unsafe investments.

5. Make of thy dwelling a profitable investment

Own thy home.

6. Insure a future income

Provide in advance for the needs of thy growing age and the protection of thy family.

7. Increase the ability to earn

Cultivate thy own powers, to study and become wiser, to become more skilful, to so act as to respect thyself.

~Till then.