The Richest Man in Babylon

George S Calson says that money can buy happiness for sure and tells you how to save and generate money.

Money is plentiful for those who understand the simple laws that govern its acquisition.

The book is a good simple introduction to the world of finance. The world has changed a lot in the last 200 years yet the basic fundamentals on how to live a financially good life remain the same.

The book revolves around Bansir and his friends who have a desire to acquire gold. They have worked hard throughout their lives but their fate hasn't been able to provide them riches. They go to their friend Akrad to take advice. Akrad grew up with them but now earns a good fortune. What did he do different ?

The author is a very good at repeating stuff till your brain registers it. The lesson from the book is that you are only entitled to a small amount of income you are earning. How? We will see!

Akrad welcomes them and tells them seven tips that will help to make your wallet fat.

• Start the purse to flattening
• Control the expenditure
• Make the gold multiply
• Guard the treasures from loss
• Invest some in future income
• Invest some in profitable businesses
• Increase the ability to earn

Next Akrad tells them that good luck favours people who are quick action takers and don't know the art of procrastination. Think about if you have a story to tell where you have a regret of not taking the quick action.

Also Akrad told that in ancient Babylon, the place where the plot is based, great men used to share wisdom in daily meetings and finally they were able to concut 5 laws of gold.

• Gold comes to those who put at-least 1/10th of the money to secure the future.
• It multiplies when the wise owner puts it in profitable employment.
• You should be a cautious owner and should seek the advice of men wise in its handling
• Gold goes away from a man who invests it in business which he is not familiar with.
• Gold is not for the people who come in plan of tricksters.

In case you have a big debt make sure that you keep giving away small portions even if the large is too much for you.

If a friend is asking you for a favour do it in a way it doesn't bring your friends burden on yourself.

The book was a good eye opener for me and I started keeping my expenses straight. I removed investments in companies I didn't know about, I paid off majority of the debts I had. Also made some fixed deposits in the bank to secure my future.