Book Review - The Richest Man in Babylon by George Clason

One of the books that I read whilst on holiday in France, was this book that I have heard quite a lot about on YouTube and have always been interested in reading.  I ordered a copy from eBay for a couple of pounds and took it away with me as a holiday read.

It is quite an old book, first published in the 1950's/60's, and is quite small and thin too, so didn't take too much reading, but I'd argue that it's contents are still as fresh and pertinent today as they probably were then. 

The book uses allegorical stories of characters living in ancient Babylonian times, to encourage the reader to take themselves to task over their finances, to enable them to live a good and prosperous life. It is almost biblical in tone, but it was a very interesting read and the main ideas that I took away from it were as follows:

The Seven Simple Rules of Acquisition:

1 - Start thy purse to fattening
2 - Control thy expenditures
3 - Make thy gold multiply
4 - Make thy dwelling a profitable investment
5 - Guard thy treasures from loss
6 - Insure a future income for yourself and your loved ones
7 - Increase thy ability to earn.

The above rules are all pretty self explanatory and Glason goes on to talk about and give examples of how these rules and the Five Laws of Gold can help anyone to accumulate wealth and maintain it going forward into the future.

The Five Laws of Gold

1 - Gold cometh gladly and in increasing quantity to any man who will put aside not less than one tenth of his earnings to create an estate for his future and that of his family.

2 - Gold laboureth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as to the flocks of the fields.

3 - Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.

4 - Gold slippeth away from the man who invests it in business or purposes with which he is not familiar or which are not approved by those skilled in its keep.

5 - Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.

The stories that Glason uses in the book to illustrate these laws are interesting. In his final chapters of the book, he uses a story to encourage the reader to make work your best friend.  Do good work, he argues and it will bring you good things.  You will not get ahead by shirking.

Simple words and rules, but they are ones that we can probably all apply to our finances and lives in some way, if we are not so doing already.  I hope you find this review helpful and I would recommend anyone to read this book.