The Richest Man in Babylon

by George S. Clason

• Proper preparation is the key to your success.

• Money is plentiful for those who understand the simple laws which govern its acquisition.

• A fat purse quickly empties if there is no golden stream to refill it.

• Learning is of two kinds: the one kind being the things we learn and know, and the other being the training that teaches us how to find out what we don’t know.

• Every gold piece you save is a slave to work for you. Every copper it earns is its child that also can earn for you. If you would become wealthy, then what you save must earn, and its children must earn, that all may help to give you the abundance you crave.

• Pay yourself first (keep one-tenth of all your earnings). Do not buy more than you can pay out of the rest and still have enough for food and charity and penance to the gods.

• Wealth, like a tree, grows from a tiny seed. The first copper you save is the seed from which your tree of wealth shall grow. The sooner you plant that seed the sooner shall the tree grow. And the more faithfully you nourish and water that tree with consistent savings, the sooner you will bask in contentment beneath its shade.

• He who takes advice about his savings from one who is inexperienced in such matters, shall pay with his savings for proving the falsity of their opinions.

• If you consume the children of your savings, how do you expect them to work for you? And how can they have children that will also work for you? First collect an army of golden slaves and then many a rich banquet you will enjoy without regret.

• First learn to live upon less than you earn. Next, learn to seek advice from those who are competent through their own experiences to give it. And, lastly, learn to make gold work for you.

• Enjoy life while you are here. Do not overstrain or try to save too much. If one-tenth of all you earn is as much as you can comfortably keep, be content to keep this portion. Live otherwise according to your income and don’t be niggardly and afraid to spend.

• What do you desire the most? Is it the gratification of your desires of each day, a jewel, a bit of finery, better raiment, more food; things quickly gone and forgotten? Or is it substantial belongings, gold, lands, herds, merchandise, income-bringing investments? The coins you take from your purse bring the first. The coins you leave within it will bring the latter.

• What each of us calls our ‘necessary expenses’ will always grow to equal our incomes unless we protest to the contrary.

• Study thoughtfully your accustomed habits of living to find certain accepted expenses that may wisely be reduced or eliminated. Let your motto be one hundred percent of appreciated value demanded for each coin spent.

• Budget your expenses so that you have coins to pay for your necessities, to pay for your enjoyments and to gratify your worthwhile desires without spending more than nine-tenths of your earnings.

• The gold you retain from your earnings is but the start. The earnings it will make shall build your fortunes.

• A man’s wealth is not in the coins he carries in his purse; it is the income he builds, the golden stream that continually flows into his purse and keeps it always bulging.

• Put each coin to work so that it may reproduce its kind and help bring to you income, a stream of wealth that shall flow constantly into your purse.

• We must first secure small amounts and learn to protect them before the Gods entrust us with larger.

• The first sound principle of investment is security for your principal.

• Before you give a loan to any man, assure yourself of his ability to repay and his reputation for doing so, that you may not unwittingly be making him a present of your hard-earned treasure.

• Before you make an investment in any field, acquaint yourself with the dangers (risks) which may beset it.

• Consult the wisdom of those experienced in handling money for profit.

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

• Every man owns the roof that shelters him and his family. You can’t pay the money lender with the same regularity as you pay the landlord. Because each payment will reduce your indebtedness to the money lender, a few years will satisfy his loan (any you will become a proud homeowner).

• Many blessings to the man who owns his own house. And greatly will it reduce his cost of living, making available more of his earnings for pleasures and the gratification of his desires. 

• A man must make preparation for a suitable income in the days to come, when he is no longer young, and to make preparations for his family should he be no longer with them to comfort and support them.

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

• General desires are but weak longings. For a man to wish to be rich is of little purpose. For a man to desire five pieces of gold is a tangible desire which he can press to fulfillment. After he has backed his desire for five pieces of gold with strength of purpose to secure it, next he can find similar ways to obtain ten pieces and then twenty pieces and later a thousand pieces and, behold, he has become wealthy.

• Desires must be simple and definite.

• A man who seeks to learn more of his craft shall be richly rewarded.

• A man must pay his debts with all the promptness within his power, not purchasing that for which he is unable to pay.

• When a man plays games (gambles), the situation is reversed for the chances of profit are always against him and always in favor of the game keeper. The game is so arranged that it will always favor the keeper. It is his business at which he plans to make a liberal profit for himself from the coins bet by the players. Few players realize how certain are the game keeper’s profits and how uncertain are their own chances to win.

• Opportunity is a haughty goddess who wastes no time with those who are unprepared.

• Opportunity, she will not wait for a slow fellow. She thinks if a man desires to be lucky, he will step quick.

• We desire riches; yet, how often when opportunity does appear before us, that spirit of procrastination from within urges various delays in our acceptance.

• Good luck can be enticed by accepting opportunity.

• Men of action are favored by the goddess of good luck. 

• If you desire to help your friend, do so in a way that will not bring your friend’s burdens upon yourself.

• The safest loans are to those whose possessions are of more value than the one they desire.

• Those who have the capacity to earn, who labor or serve and are paid, have income, and if they are honest and suffer no misfortune, they can repay the gold they borrow.

• Humans in the throes of great emotions are not safe risks for the gold lender.

• We cannot afford to be without adequate (insurance) protection.

• Where there is determination, the way (to repay debt, grow wealth) can be found. 

Disclaimer: The key points of the book presented here are not a substitute for reading the book. To get the entire holistic message the author has offered requires reading the book.

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