The Richest Man In Babylon

AKA How To Stop Worrying And Learn To Love The Shekel

Entertaining story. Basic but good advice.
Proper preparation is the key to success.
Save at least 1 tenth of what you earn. Invest as much of what you make as you can.
Don’t freak out with saving and make life very uncomfortable. Don’t waste time to save meager amounts.
Do not take advice from people who have not ACHIEVED what they preach.
Have they been able to do it in their lives? If not, ignore them.
(Especially if it is money advice)
Control your expenditures. Do not confuse necessary expenditures with desires. Make a budget and stick to it. Stop wasting your money!
When investing, a small but safe return is almost always preferable to risk!

Seek to own, not to rent, as rent money is forever lost. (This doesn’t mean go into massive debt for a large house or sportscar).
Increase your ability to earn- more skills, knowledge, a better job, more forms of cash-flow.
You must move quickly when opportunity comes (Again, avoid risky opportunities!).
If you get a deal that meets your pre-decided criteria then take it. It could be gone quickly.
Walk away from bad deals and wait on opportunities that do not have all the necessary components.
CRUSH your spirit of procrastination. (Read THIS)

Do not invest in things in which you are not familiar.
Help your friends, but do not assume their burdens (money burdens included).
When paying off debt- spend up to 70 percent of your income, use 20+ percent to pay off debts, and keep 10 percent to invest.

That’s all the advice. This book is so popular because it is very entertaining and well written.
That being said, I don’t think its worth the time- especially since you have this boil-down.


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