Tuesday, 16th September 2008

“Richest Man in Babylon” by George S. Clason

Written by George Traganidas Topics: Books, Personal Finance

Richest Man in Babylon

This is a great book that talks about personal finances. It has many practical steps on how to control your financial situation as well as ideas on how to build wealth. The book is a collection of stories that take place in ancient Babylon. In these stories rich people of that age share their secrets of how they have created their wealth with other citizens of the city. Through these stories you can understand the principles and the actions that these people took and apply them in this modern age. The advice of these people is timeless and is not specific to that time or location. Of course if you try to find a camel trader these days to do business…… good luck with it.

Some of the advice in that book is to save at least 10% of your income. This income you should invest wisely with advisors that are competent. You need to get control of your expenses, however small they are. You must make your gold (money in modern age) work for you and make you more gold.

It is a very relaxing reading and it is full of good advice. I would recommend that you read this book, because it provides a very solid foundation on the basic concepts and strategies to build wealth. If you like the book you can buy it from here.

Follow the Practical Way,
George

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