Book Category: Money Management, Motivational,

The Richest Man in Babylon (book summary)

Author: George S. Clason
Life Changing Principles
Quality of Writing
Overall Value
pros: Powerful, practical, applicable today
cons: Formal style
overall rating

Quick Summary

Clason’s The Richest Man in Babylon is a short and powerful read. If you are a fan of folks like Dave Ramsey, Ramit Sethi, David Bach, and others then you will have a strong appreciation for this book.

Key Insights

  • Save 1/10 of your income for yourself
  • 7/10th’s of your income should pay for living expenses
  • 2/10th’s of your income should pay on existing debts
  • Men are burdened with more desires than they can gratify
  • There are limits to the zests that one can enjoy in life
  • Make your home a profitable investment
  • Desires should be simple and definitive
  • The more wisdom you have, the more you will earn
  • Men of action are favored by good luck
  • Don’t let debt make you a slave

Practical Application

  • Follow the rules on saving, spending, and eliminating debt

Meaningful Quotes 

“If you have not acquired more than a bare existence in the years since we were youths, it is because you either have failed to learn the laws that govern the building of wealth, or else you do not observe them.

“I found the road to wealth when I decided that a part of all I earned was mine to keep. And so will you.”

“Every gold piece you save is a slave to work for you. Every copper it earns is its child that also can earn for you. If you would become wealthy, then what you save must earn, and its children must earn, and its children’s children must earn, that all may help to give to you the abundance you crave.”

“Opportunity is a haughty goddess who wastes no time with those who are unprepared.”

“It is the real fun, to start accumulating money that you do not want to spend. There is more pleasure in running up such a surplus than there could be in spending it.”

Interested? Buy the book here!