I heard from many of my readers that my last post Great Techniques to Self Mastery which is a summary of what I read on a book really helped them gain some insights in 5 minutes rather than reading the whole book(Although I recommend reading the whole book to experience it)
That brings me to writing this post, a quick summary of what I learned from The Richest Man In Babylon
The book fun to read walks you through the old city of Babylon & its stories of greatest men’s, yet thought-provoking. Gives you a different perspective of money and how to use them.
Quick fact about Babylon: There where the first civilization to have a Written Language, Engineers, Astronomers, Finance experts, etc., Babylon is an outstanding example of man’s ability to achieve great objectives, using whatever means are at his disposal. Babylon got only two resources “Fertile Soil” & “River Water”. Not even stones to build walls, Yet it proved to be the richest city in the ancient world.
5 Finance Advices From The Ancient Richest City Of The World:
- Save 10% of your income — be content to keep this portion.
- Avoid unnecessary expenses — What each of us calls our “necessary expense” will always grow to equal our income unless we protest to the contrary.
- Improve your skills to increase your income — Dedicate time for learning & improve your craft. The man who seeks to learn more of his craft shall be richly rewarded.
- Choose your investment wisely — A small return and a safe one is far more desirable than risk. Don’t take advice from inexperienced people. The man who invests in business or purpose with which he is not familiar fails mostly.
- Put the money to work — A man’s wealth is not in the purse he carries. A fat purse quickly empties if there be no golden stream to refill it.
I wish an income that will keep flowing into my purse whether I sit upon the wall or travel to far lands.