Cover of The Richest Man in Babylon

The Richest Man in Babylon

George S. Clason

3 ideas

  1. Pay Yourself First With a Tenth

    Before paying any other expense or creditor, set aside at least one-tenth of everything you earn and keep it as your own. Living on the remaining nine-tenths is no harder than living on ten-tenths, because spending expands to consume whatever income is available, and this retained portion becomes the seed of all future wealth.

  2. Arkad's savings lost to brickmaker's jewels

    Arkad's first year of savings is entrusted to Azmur the brickmaker to buy jewels abroad, and Azmur is sold worthless glass. The lesson: take investment advice only from people experienced in that specific trade, and keep capital out of ventures you and your adviser do not understand. Protecting principal comes before seeking a return.

  3. Saved gold as working slaves

    Each coin saved should be put to work earning more coins, and those earnings should also be put to work, so that capital becomes a workforce that labors for its owner. Wealth, in this view, comes from the size of the earning stream that stored money produces through compounding, not from how much money is stored.

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