About The Author
The author’s name: George Samuel Clason
Date of birth: 7\11\1874
Nationality: American
Born in: Louisiana, Missouri
Works:
· The Richest Man in Babylon
· Gold Ahead
· Find Your Right Job
About The Book
This book was first published in 1962. The book provides financial advice through a compilation of tales set in ancient Babylon 4,097 years ago. These stories are told by Arkad, a legendary Babylonian character who rose from poverty to become the "richest man in Babylon." The "Seven Cures" and the "Five Laws of Gold" are Arkad's advice.
Seven Cures For A Lean Purse
1. Start the purse for fattening
'For every ten coins you put in, you can only spend nine.'
2. Control the expenditure
Budget thy costs so that thou hast money to pay for thy necessities, thy pleasures, and thy worthwhile desires without spending more than nine-tenths of thy earnings.
3. Make the gold multiply
Must put each coin to work so that it can reproduce its type like the flocks of the field and contribute to thy income, a stream of wealth that will flow continuously into thy purse.
4. Guard the treasures against loss
Invest only where thy principal is safe, where it can be retrieved if desired, and where a reasonable rental may be collected. Seek advice from wise persons. Take the guidance of individuals who have dealt with gold profitably in the past. Let their expertise keep their treasure safe from risky investments.
5. Make the dwelling a profitable investment
Own thy own home. Many blessings come to the individual who has his dwelling. And it will significantly cut his cost of living, freeing up more of his wages for pleasures and the fulfillment of his desires.
6. Insure a future income
Provide for the requirements of thy increasing age and the protection of thy household in advance.
7. Increase the ability to earn
Nurture thine own powers by studying and becoming wiser, becoming more skilled, and acting in such a way that thyself is respected.
The Five Laws Of Gold
1. The first law
Gold comes willingly and in growing quantities to every guy who will invest at least one-tenth of his earnings to develop an estate for his and his family's future.
2. The second law
Gold works hard and pleasantly for the clever owner who finds gainful employment for it, increasing as the flocks of the field.
3. The third law
Gold clanged to the protection of the prudent owner who invests in it with the advice of wise men.
4. The fourth law
Gold eludes the man who invests in businesses or purposes with which he is unfamiliar, or which are not sanctioned by those who are knowledgeable about its preservation.
5. The fifth law
Gold leaves the guy who attempts to force it to impossible earnings, who takes seductive advice from swindlers and schemers, or who entrusts it to his own inexperience and idealistic investing goals.
The City Of Babylon
The name of an ancient city in southern Mesopotamia on the lower Euphrates River. Babylon was the dominant cultural and political center of Babylonia's Akkadian-speaking region.
There is only two resources the city of Babylon had: fertile soil and river water. Babylonian engineers channeled the river's waters using dams and massive irrigation canals, one of the greatest engineering feats of this or any other day. These canals ran far out across that barren valley, pouring life-giving water over the fertile land. This is one of history's earliest engineering marvels. The globe had never seen such plentiful crops as the result of this irrigation system.
Unfortunately, the city no longer exists, but it is in Asia, roughly 600 miles east of the Suez Canal, just north of the Persian Gulf.
My Point Of View
From my point of view, the book presents valuable instructions to start your wealth for zero-knowledge people. The problem with the book is that the content can be summarized in a few papers, but the author stretched it into about 142 pages. That doesn't contrast with the fact that the book, although it was written in 1962, is still being read and the advice in it is still effective nowadays.
Written by: Heba Salah
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