Clason references the ancient city of Babylon, a very wealthy city that was built on a desert. Though the land around the city had nothing going for it, Clason describes how the knowledge of the people, using great feats of engineering, routed a nearby river and created an abundance of crops.

1. The Richest Man in Babylon

2. How does one acquire wealth?
 The Richest Man In Babylon book was
written by George Samuel Clason. It was
written in the 1920s, right before the
great stock crash of 1929.
The Richest Man in Babylon review up
next:

3. Clason references the ancient city of
Babylon, a very wealthy city that was
built on a desert. Though the land around
the city had nothing going for it, Clason
describes how the knowledge of the
people, using great feats of engineering,
routed a nearby river and created an
abundance of crops.
This knowledge actually created the city’s
wealth, and flung it far into the
stratosphere of human achievement.

4. The The Richest Man In Babylon book
begins with a story of two paupers who
live in Babylon, wondering how it is that
they live in squalor, while people around
them enjoy great wealth. They decide to
ask a friend of theirs who is the richest
man in all of Babylon, Arkad.

5. Arkad starts by outlining the Seven Cures
for a Lean Purse. They are super simple,
but effective.
The point you must remember is that this
information can apply as much to you
and your family now, as it did to
Babylonians over 8,000 years ago.

6. 7 Cures For A Lean Purse

7. . Start thy purse to fattening. (Save
10% Of Your Income)
 The first concept is simple – save 10%
of your income. – BURN THAT IN YOUR
BRAIN

*is it enough?????
Most don’t even do that.

8. Start with AT LEAST 10% of what you
earn… ANYONE can do this regardless of
what you make right now.
Saving provides three benefits.
First, it gives you some instant
gratification as your savings grows.

9. Secondly, it pulls you away from the
edge of existence.
And third having a savings attracts more
money to you. Arkad describes that
money attracts money, while empty
wallets attract more emptiness. Saving is
different from hoarding – saving puts
money away and still allows you to enjoy
life.

10. 2. Control thy expenditures.
 Do not spend money on items you don’t
need.
Arkad makes a point that not everyone
earns the same amount of money, yet
most people will be broke. He says this is
because people will buy things that they
want, items that they feel that they
need. Their needs increase with their
income. A budget protects you against
desires that deplete your income, which
causes you worry and stress.

12. 3. Make thy gold multiply.
 Investments – these are the true wealth
of any individual, not the cash in their
bank accounts. Put your money and
assets to work so that they continuously
bring a return on investment and a
“stream of wealth that shall flow
constantly into thy purse.”

13. 4. Guard thy treasures from loss.
 As your wealth grows, so should your
investments. But here is a warning that
warrants its own spotlight. People will
approach you will all kinds of
opportunities that look good, but they
aren’t. Go to people who know what they
are doing.
Don’t invest everything you have into
one opportunity.

14. He uses his own analogy -
“don’t trust a bricklayer with an
investment in jewels”

Make sure you go to a reliable source in
their field.

15. 5. Make of thy dwelling a profitable
investment.
 Own your own home. You invest all of
your time and money into your own
place, and create your own environment.
You aren’t paying someone else up to a
third of your monthly income for housing.
You are investing all of your own money
back into your own family.

16.  – Now some might say the house you
live in isn’t an investment… and some
strategies go against doing this… and
rather pay rent. I rather put the money
into the mortgage and get equity.

17. If you plan to rent.. it’s super important
you know why…. If it’s to save the rest
and invest.. cool. If it’s just to live in a
nicer place… hmmm
Or is it cause you move too much… that
makes more sense.

18. 6. Insure a future income.
 Most people hate to plan for their
retirements. Even more hate planning for
their death, while the vast majority
ignore it entirely. Yet it is important to
protect yourself and your family against
poverty when you get older, are less able
to work. Think about the future by
preparing now.

19. 7. Increase thy ability to earn.
Learn skills to increase your productivity.
Learn skills to increase the quality of
your work.
Learn skills that are rare but highly
sought after.
Keep learning to earn.
I remember my professors at the
University of Texas at Austin (college
isn’t for everyone but I loved how much I
grew up in college) said…

20. “You will learn HOW TO LEARN”….
That is a pretty important step.. you
NEVER stop learning
When you stop growing you are dead…
period.
Keep growing – Hookem

21. Once you follow the seven (7) cures to a
lean purse, you will have quite a bit of
money.
Does the story end there?
 No, it does not.
 “A fool and his money are soon parted,”
as the saying goes.

22. Don’t be stupid with your money.
 The second part of the The Richest Man
In Babylon book, The Five Laws of Gold,
deals with what to do with your wealth to
not only keep it growing, but to protect
it.
 Knowledge is key to wealth. Not
necessarily college degrees, but a
financial knowledge.
 Without further ado the The Five Laws of
Gold are as follows:

23. The 5 Laws of Gold
 1. Gold cometh gladly and in increasing
quantity to any man who will put by not
less than one-tenth of his earnings to
create an estate for his future and that of
his family. (Money comes to those who
save).
 2. Gold laboreth diligently and
contentedly for the wise owner who finds
for it profitable employment, multiplying
even as the flocks of the field. (Money
works hard if you put it to work).

24. 3. Gold clingeth to the protection of the
cautious owner who invests it under the
advice of men wise in its handling.
(Money stays with you if you protect it by
listening to someone who knows what to
do with it.)
 4. Gold slippeth away from the man who
invests it in businesses or purposes with
which he is not familiar or which are not
approved by those skilled in its keep.
(Money is lost to bad investments or
unskilled investors.)

25. 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. (Money is lost to unrealistic
expectations put into your head by
scammers or investing it poorly.)

26. The big takeaway from The Richest Man
In Babylon book is that creating wealth is
simple. It is not always easy, it is not for
people who are too emotional or
impulsive with their money nor is it for
people who are uneducated about
money. Follow the steps above and see
how quickly you begin to build your own
estate.

27. Wealth is all around us.
Learn and apply the laws of wealth and
there will be no limit to how much wealth
you can have for your own family.
 I hope you enjoyed The Richest Man In
Babylon book and reading this article. If
you want to learn more about how I do
things like this (read books and play on
the internet) I highly recommend you
study my 10 day video series on
Marketing. (free access Here)
http://www.lawrencetam.net/