7 lessons from the Richest Man in Babylon

The Richest Man in Babylon, the success secrets from the Ancients”  is the most popular publication of George S. Clason.

The Book – The Richest Man in Babylon

Even if it was written and published in 1926, it is still extremely popular and relevant today:

  • it is one of the first divulgation books on Financial Planning and Personal Wealth.
  • In this book, we have the first written reference to the concept of “paying yourself first”. This slogan is now a mantra and golden principle in personal finance). I have extensively covered this concept with the review of the book “The automatic millionaire”, by David Bach
  • With the Richest Man in Babylon Clason demonstrated being an excellent storyteller: he shared financial principles using philosophical parables set in ancient Babylon: a successful way to engage an audience.

The Animated Video – The Richest Man in Babylon

In this animated video – a small experiment – I share an extract from the book, that focuses on a parable titled “The 7 Financial Rules of Arkad, the Richest Man in Babylon”.

Transcript on the 7 Financial Rules of Arkad

  • Financial Rule 1: every month, a part of earnings is yours to keep and put aside: pay yourself first
  • Financial Rule 2: differentiate between NEEDS and WANTS with your expenditures
  • Financial Rule 3: invest your monthly savings, so that they will grow exponentially over time
  • Financial Rule 4: protect your savings from losses
  • Financial Rule 5: own your home, make it an asset
  • Financial Rule 6: insure your assets
  • Financial Rule 7: invest in yourself, grow your skills, become wiser

Recommended readings

Look at my Book Library for other great books and reviews on Personal Finance, Investing, Personal Development or Intentional Living.

Financial Wisdom + Discipline = Financial Freedom


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