The Richest Man in Babylon
- Narrated by: Grover Gardner
- Length: 4 hrs and 4 mins
- Unabridged Audiobook
- Release date: 12-06-13
- Language: English
- Publisher: Gildan Media, LLC
A modern day classic, The Richest Man in Babylon dispenses financial advice through a collection of parables set in ancient Babylon. These famous "Babylonian parables" offer an understanding of - and solution to - a lifetime's worth of personal financial problems, and holds the secrets to acquiring money, keeping money, and earning more money.
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Customer ReviewsMost Helpful
By Botty on 19-07-18
Absolutely amazing universal truths!
The richest man in Babylon
The book not only immerses the reader into the great times of Babylon, but also truly shares universal wisdom, which many have applied on their way to acquiring abundance.
The one-liner that convinced me to devour the book was the quote:
“The sun that shines today is the sun that shone when thy father was born, and
will still be shining when thy last grandchild shall pass into the darkness.”
“The thoughts of youth,’ he continued, ‘are bright lights that shine forth like the meteors that oft make brilliant the sky, but the wisdom of age is like the fixed stars that shine so unchanged that the sailor may depend upon them to steer his course.”
All you need to succeed is a great desire! Nothing to start with and only taking the opportunities available to all!
If one does not have gold, it is either because he does not know the laws of gold or cannot observe them.
The book teaches its lessons through
1. Arkad’s journey to wealth through asking a wealthy man for advice -> The five laws of gold
2. Arkad’s test of manhood to his son Nomasir -> Knowledge is more than gold
3. The tale of the ox and the ass (I was surprised to find that this word actually means a horse-like animal :D ) -> If you desire to help thy
friend, do so in a way that will not bring thy friend's burdens upon thyself."
4. The story of Dabasir from slave to free merchant -> all you need is desire and where the determination is, the way can be found
5. Sharru Nada and Hadan Gula -> you create your own luck
THE SIMPLE RULES OF GOLD ACQUISITION
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
Two kinds of learning:
1) things we learn and knew.
2) the training that thought us how to find the ones that we don’t know
The magic of willpower:
For now, I had made a habit and it was not difficult.
Lessons from the richest man in Babylon
1. Life on less than you can Earn!!! Not below your means!!! Very important!!!
This means to partition your earnings and to save at least 10%.
As reported by many examples in the book, this is easily doable.
2. Take advice and seek from those who were complemented from their own experiences
3. Learned to make gold work for you
4. Opportunity wastes no time with the unprepared
5. Willpower is not the answer:
1. The answer is to have a very strong desire/vision/why! This is the reason why so many self-help books focus on starting with the vision (having the end in mind)
2. The unflinching purpose to carry a path you have set for yourself to fulfill
3. When set a task for yourself, no matter what, you complete it!!!! For example, if you determine to throw a stone every day into the river, if one day you forget, return and throw the stone. Neither do you give up on the 20th day!
4. Because you have the determination to complete all tasks, be careful not to start difficult and impractical tasks
6. Wealth grows where man exerts energy. Therefore, when a prince creates a palace, the place brings wealth to everyone working on the project, but also enriches the area around it!! Hence, wealth creates wealth.
How to become rich according to Arcad, the richest man in Babylon:
1. 10% of what you earn is yours to keep! Including 10% of the earnings of your earnings%
1. Do not each the children of your efforts
2. Arrange other expenditures
3. Rich feeling to have your own treasure - a new joy of life will thrill you!
2. Learn to make your treasure work for you!! Make it your slave! Make it’s children and it children’s children work for you
3. Ensure an income for thy future
1. Invest treasure with greatest caution so that it is not lost!!
4. Council with wise man!! Seek the advice of man’s whose daily work is handling money
1. Small return and a save one is far more desirable than risk
5. Enjoy life while you are here!! Do not try to strain or save too much!
1. Don’t get afraid to spend! Life is good and life is rich! Just make sure to live according to your income!
2. There are things worth-while and things to enjoy
The seven lesson to fatten your purse:
No man can climb firmly, unless they step firmly on the first step.
1. For each 10 coins I earn, spend 9
1. Gold comes more easily to the person that keeps their gold and does not spend it
2. Control thy expenditure
1. What one calls the necessary expenses will always grow in proportion to your income (other authors refer to this as Parkinson’s law)
The Five Laws of Gold
Arkad did not let his son inherit his fortune, instead he gave him a choice to prove he is worthy:
"A bag heavy with gold or a clay tablet carved with words of wisdom; if thou hadst thy choice,
which wouldst thou choose?"
THE FIVE LAWS OF GOLD
I. 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.
II. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.
III. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.
IV. 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.
V. 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.
4 of 4 people found this review helpful
Customer ReviewsMost Helpful
By will on 31-08-14
Better Financial Control, Better Quality of Life
This book was recommended by Jim Rohn in a speech I listened to and I have so much admiration for him I instantly hopped on audible and picked this up. The parable format was perfect for an audiobook and I've already listened through a few times.
I can't say anything in this book is outside the realm of common knowledge, but a lot of times I don't need to learn something new, I just need to be reminded of those core fundamentals, and if I'm not doing them- start!
The 7 Cures for a Lean Purse discussed in the book:
Start thy purse to fattening
Control thy expenditures
Make thy gold multiply
Guard thy treasure from loss
Make of thy dwelling a profitable investment
Insure a future income
Increase thy ability to earn
The one that has been the biggest game changer for me has been "Start thy purse to fattening-" saving 10% of my income. I've always heard "pay yourself first," but I always felt like if I did that I wouldn't have the money to pay my bills. If I had money left over after paying all of my bills I'd save that.
Guess what? There's always something else to spend on so I wasn't saving much.
This book inspired me to just try it, and the results have been huge for me. Not huge in terms of my bank account, but more with my attitude towards money. Shortly after starting the process of setting aside 10%, I started to feel in control of the money instead of the money being in control of me.
I think the mental shift has to do with when you spend everything, there's never enough. As soon as you start setting aside that 10% your mentality shifts from there never being enough to, "Of course there is enough. I don't even have to spend everything I earn and I'm doing just fine." I don't know if that makes sense. I think it shifts your subconscious from the scarcity mindset to a prosperity mindset.
Fringe benefits with 10% of my income being mine to keep, is that potential negative life events (worries) don't hold the same power over me because I have a little cash reserve that's growing every paycheck. If I get a cavity, blow out my knee, lose my job, have car problems, they'll still all be unfortunate and stressful, but they won't send me into crisis mode.
Typing this I'm thinking about a quote from Mark Twain, “I've had a lot of worries in my life, most of which never happened.” The mental benefits of saving calm a lot of my worries and let me focus on more productive thoughts. If they never happen I'll be glad I didn't waste my time worrying and if they do, I'll be in a position financially to deal with them.
This has been my long winded way of saying, buy the book. You won't regret it. If you already know it all, it will be good to go through the checklist and make sure you're actually doing it. If you're new to the study of personal finance, this book hits on the fundamentals and would be a great place to start.
97 of 100 people found this review helpful
By Gersham Charles on 14-07-14
Would you consider the audio edition of The Richest Man in Babylon to be better than the print version?
The wisdom within the pages of this book are life changing for those who choose to understand and execute it's principles. I fell in love with the spoken word again listening to the richness and texture of every word and sentence.
What other book might you compare The Richest Man in Babylon to and why?
None that I can think of..
What about Grover Gardner’s performance did you like?
His flow and voice matches the book well.
21 of 23 people found this review helpful