The Richest Man in Babylon is a book by George Samuel Clason which dispenses financial advice through a collection of parables set in ancient Babylon. Through their experiences in business and managing household finance, the characters in the parables learn simple lessons in financial wisdom.

The narrative follows two poor workers, Bansir and Kobbi, as they attempt to gain wealth. They ask advice of their friend Arkad, who is the titular “richest man in Babylon”. Arkad proceeds to use a series of parables to illustrate such financial axioms as “Live on less than you earn,” “Seek advice from those who are competent through their own experiences to give it,” and “Make your gold work for you.” Through these parables, Clason dispenses common investment advice on topics such as making a budget, saving, investing, insurance and other financial planning principles.

“Pay yourself first – a part of all you earn is yours to keep.” - Algamish

The 7 Principles of Riches:

“The Richest Man In Babylon” offers 7 principles as told by Arkad, the riches man in Babylon.  When talking about the 7 Principles of Riches, Arkad says “Money is plentiful for those who understand the simple rules of its acquisition.”  The 7 principles of riches are:

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

Of course these principles are nothing new, but they are considered by many successful people to be the foundation to wealth.  The book lays them out in a way that’s interesting to follow, easy to understand, and really sinks in.

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