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The Richest Man In Babylon- Money Management Advice

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A Part Of All You Earn Is Yours To Keep

The Richest Man in Babylon is a book about thrift, financial planning, and personal wealth. The intended audience is anyone looking to shore up their financial situation and this book suits them perfectly. It will be most useful to people in debt, financial trouble, or living paycheck to paycheck.

Other books on personal finance like Rich Dad, Poor Dad; Cashflow Quadrant; The Millionaire Next Door
all focus on making money work for you. They teach you how to invest money- how to use money that you already have, but what if you don't have extra money to do this? What if you are living in debt and spending everything you own, keeping nothing for yourself? The plans from these other books become impossible to achieve. This is where The Richest Man In Babylon comes in; Clason provides you with a plan to get a savings based on the income you already have. It is the first step the majority of us need to take before the other books can be of use, before we have money available that can work for us.

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The Richest Man In Babylon
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Summary

Written in parable, the book is very readable. The story format lays out the valuable life lessons naturally and makes the examples both extremely easy to follow and accessible to anyone who reads it. The pace of the book is quick and light. It is an easy read filled with valuable wisdom.

Clason has clearly defined and sectioned off concepts for each of his stories. The ideas themselves are well developed and given depth using storytelling. Each character, through their own trial and error, gives life lessons to the reader. The author uses these stories to prove his point that the laws work, and- fiction or not- they are convincing and replicable to anyone that reads the book. The author laces the tone and narrative style with educational and instructional advice and ultimately leads readers to inspiration.

The characters in each story have conflict originating from poor money management. They are all living poorly, paycheck to paycheck, and in debt. They are spending everything they earn with nothing left over for themselves.

Within The Richest Man In Babylon Clason lays out the "Seven Cures For a Lean Purse" and the "Five Laws Of Gold." Both are set up to give you guidance and understanding of how to acquire and accumulate money. Using these laws to guide you, you will not only get out of debt but will have a savings that you can begin to have work for you.

Initially the characters are flawed but, after wise advice, are able to change their behaviors and become financially stable and successful. The full detail of stories- the extreme highs and lows of the characters and their drive for self-improvement- makes each tale and every character believable and allows the advice to transcend from ancient Babylon 6,000 years ago to today and still be inspirational and effective. The advice and wisdom are universal and unchanging.

The book lays out a way for you to both pay off debt and develop a savings at the same time. It also advises you to have the money you save work to make more money for you. However, what is missing is how exactly your money can work for you. The only example Clason provides is to become a lender, and only touches on a few rules of how to do this. So this book will get your feet firmly planted in a foundation of saving, showing you how to live off of less than you earn, but won't specifically address ways to make your saved earnings increase.

I've been following the rules since December of 2008 and they are wonderful. Every day I wish that I knew about them when I was a teenager. I realize this book is a must-read for everyone making money in the workforce. The sooner that you learn the wisdom within this book, the sooner your financial situation will improve.

George S. Clason Quote:

That what each of us calls our "necessary expenses" will always grow to equal our incomes unless we protest to the contrary. Confuse not the necessary expenses with thy desires. Each of you, together with your good families, have more desires than your earnings can gratify. So freely do desires grow in men whenever there is a possibility of their being gratified. Thy desires are a multitude and those that thou mayest gratify are a few.

-The Richest Man In Babylon

The Richest Man In Babylon By George S. Clason

Book Review

The Richest Man in Babylon

by: George S. Clason

Amazon Price: $4.45 (as of 05/27/2012)

The Richest Man In Babylon was recommended to me by best-selling author Neil Strauss back in October of 2008 and it's some of the best advice I've ever received. I am reviewing it because it has substantially helped me get out of debt, create a budget, and establish a savings that I now invest with. I've told my mom, dad, brother, friends, and coworkers about it. I still want it to reach more readers because I believe it can truly help people gain financial stability.

I give the book a score of 9.5 out of 10. It is excellent and unsurpassed in its niche, and a classic work that will apply to all generations.

Why is Clason so effective at getting his advice across? Setting the stories in Babylon 6,000 years ago gives the perception that the advice has descended generations and that the truths and advice given are truly universal. If it had been set in present day, this effect would have been lost. If the book had been written any other way, I don't believe the message within would have been as effective. Writing The Richest Man In Babylon in story fashion makes the rules and laws within appeal to the reader both emotionally and logically for greatest effect.

I've purchased this book, I've leant it to coworkers, I bought it for my brother, and I wholeheartedly recommend you buy it too. The content is timeless. The advice and wisdom can transcend all generations. It is extremely successful at what it is trying to do- it gives you a plan and direction to get out of debt, start saving, and start living off less than what you make.

Clason truly accomplished creating a great way to advise individuals on the topic of personal finance. The knowledge inside on budgeting, saving and getting out of debt make the book completely worth it. In terms Clason would use: Given a choice of gold or wisdom, choose the wisdom; it's worth more than the gold. The wisdom inside is worth more than the price of the book.

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The Richest Man In Babylon- Money Management Advice

A Part Of All You Earn Is Yours To Keep

Contents at a Glance

Contents at a Glance