Start Thy Purse to Fattening
Save at least 10% of everything you earn
Book summary
Foundational TextPerennial SellerGoodreads Favorite
The Richest Man in Babylon
by George S. Clason
Timeless Financial Wisdom Through Ancient Parables
Ancient parables teaching timeless wealth principles
4.5(25k)Published 1926
Topics
Personal FinanceWealth BuildingFinancial Literacy
Reading companion
How to read The Richest Man in Babylon with Readever
Read one parable per week and use Readever's highlighting to identify the specific wealth principle being taught. After each story, create an action plan to implement that principle in your financial life. Use the AI to explore how these ancient Babylonian principles apply to modern financial systems and create a personalized wealth-building roadmap.
Things to know before reading
- This book uses simple parables to teach fundamental financial principles
- The seven laws of wealth are presented through memorable stories
- No complex financial knowledge required—perfect for beginners
- The principles are timeless and work regardless of income level
Brief summary
The Richest Man in Babylon in a nutshell
A collection of financial parables set in ancient Babylon that teaches fundamental principles of wealth accumulation through simple, memorable stories about saving, investing, and living within one's means.
Key ideas overview
The Richest Man in Babylon summary of 7 key ideas
The book presents seven core principles through memorable stories that make complex financial concepts accessible and actionable.
Control Thy Expenditures
Live below your means to create surplus
Make Thy Gold Multiply
Put your savings to work through wise investments
Guard Thy Treasures from Loss
Protect your principal through careful investment decisions
Make of Thy Dwelling a Profitable Investment
Own your home and build equity
Insure a Future Income
Plan for retirement and financial independence
Increase Thy Ability to Earn
Develop skills and knowledge to increase your value
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Master the 7 Laws of Wealth That Have Endured for Centuries
Discover financial principles so fundamental they've remained unchanged for thousands of years. Through engaging Babylonian parables, learn how to systematically build wealth regardless of your income level.
Deep dive
Key ideas in The Richest Man in Babylon
Key idea 1
Start Thy Purse to Fattening
Save at least 10% of everything you earn
The foundational principle that wealth begins with consistent saving. Arkad, the richest man in Babylon, teaches that saving the first portion of all earnings creates the seed capital for future wealth.
Remember
- Pay yourself first before any other expenses
- Make saving a non-negotiable habit
- Start with whatever amount you can, even if small
Key idea 2
Control Thy Expenditures
Live below your means to create surplus
Wealth accumulation requires disciplined spending. The book emphasizes distinguishing between needs and wants, and creating a budget that allows for consistent saving.
Remember
- Create a budget that prioritizes saving
- Avoid lifestyle inflation as income increases
- Focus on value rather than appearances
Key idea 3
Make Thy Gold Multiply
Put your savings to work through wise investments
Saved money should be invested to generate additional income. The book teaches the importance of seeking safe, profitable investment opportunities.
Remember
- Seek investments with reasonable returns
- Diversify to manage risk
- Consult with knowledgeable advisors
Key idea 4
Guard Thy Treasures from Loss
Protect your principal through careful investment decisions
The principle of capital preservation emphasizes avoiding risky investments and schemes that promise unrealistic returns.
Remember
- Avoid get-rich-quick schemes
- Invest only in what you understand
- Protect your principal above all
Key idea 5
Make of Thy Dwelling a Profitable Investment
Own your home and build equity
The book advocates for home ownership as a means of building wealth through forced savings and property appreciation.
Remember
- Prioritize owning over renting
- View your home as both shelter and investment
- Build equity through mortgage payments
Key idea 6
Insure a Future Income
Plan for retirement and financial independence
The importance of preparing for the future by building streams of passive income that can sustain you when you're no longer working.
Remember
- Start retirement planning early
- Build multiple income streams
- Consider annuities and other income-generating assets
Key idea 7
Increase Thy Ability to Earn
Develop skills and knowledge to increase your value
The final principle focuses on personal development as the foundation for increasing earning potential and creating more wealth.
Remember
- Continuously improve your skills
- Seek knowledge and education
- Become more valuable in the marketplace
Context
What is The Richest Man in Babylon about?
"The Richest Man in Babylon" presents financial wisdom through a series of engaging parables set in ancient Babylon. The book follows characters like Arkad, who rises from poverty to become the wealthiest man in the city, and Bansir, a chariot builder struggling with debt. Through their stories, George S. Clason teaches fundamental principles of wealth accumulation that remain relevant nearly a century after the book's publication.
The narrative approach makes complex financial concepts accessible and memorable. Each chapter presents a different financial lesson wrapped in an ancient story, covering topics from basic saving and budgeting to investment strategies and retirement planning. The book's enduring popularity stems from its simple yet profound message: wealth-building principles are timeless and accessible to anyone willing to apply them consistently.
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Review
The Richest Man in Babylon review
"The Richest Man in Babylon" stands as one of the most influential personal finance books ever written, with over two million copies sold worldwide. Its strength lies in its simplicity and timelessness—the principles taught through Babylonian parables remain as relevant today as they were in 1926.
The book's narrative format makes financial education engaging and memorable. Rather than presenting dry financial advice, Clason weaves lessons into compelling stories that stick with readers long after they've finished the book. This approach has made "The Richest Man in Babylon" a gateway to financial literacy for generations of readers.
While some concepts may seem basic to modern readers familiar with personal finance, the book's foundational principles—saving 10%, living below your means, and making money work for you—remain the bedrock of sound financial management. The book's enduring appeal demonstrates that the fundamentals of wealth creation haven't changed, even as financial instruments and markets have evolved.
- Makes complex financial concepts accessible through simple stories
- Timeless principles that work regardless of economic conditions
- Perfect introduction to personal finance for beginners
- Engaging narrative format that makes lessons memorable
Who should read The Richest Man in Babylon?
Young adults starting their financial journey
Anyone struggling with debt or living paycheck to paycheck
People who find traditional finance books dry or intimidating
Parents wanting to teach financial literacy to their children
Anyone seeking foundational wealth-building principles
About the author
George Samuel Clason (1874-1957) was an American author, soldier, and businessman best known for writing "The Richest Man in Babylon." Born in Louisiana, Missouri, Clason served in the United States Army during the Spanish-American War and later founded the Clason Map Company in Denver, Colorado, which published the first road atlas of the United States and Canada.
Clason began writing a series of financial pamphlets in the 1920s, using parables set in ancient Babylon to illustrate financial principles. These pamphlets were distributed by banks and insurance companies to educate their customers about personal finance. The most popular of these stories were later compiled into "The Richest Man in Babylon," which became a classic of personal finance literature.
Clason's background in business and his understanding of American financial culture during the Roaring Twenties informed his writing. His simple, story-based approach to financial education made complex concepts accessible to ordinary people, contributing to the book's enduring popularity across generations.
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One of the bestselling personal finance books of all time
Translated into dozens of languages worldwide
Used by financial institutions for customer education
Enduring classic first published in 1926
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Final summary
"The Richest Man in Babylon" delivers timeless financial wisdom through engaging ancient parables that make complex concepts accessible and memorable. The book's seven fundamental principles—starting with saving 10% of income, controlling expenditures, making money work through investments, protecting capital, owning property, planning for retirement, and increasing earning ability—provide a comprehensive foundation for wealth building.
What makes this book endure is its simplicity and universal applicability. The principles work regardless of income level, economic conditions, or financial sophistication. By wrapping financial lessons in compelling stories, Clason created a financial education tool that continues to resonate with readers nearly a century after its publication.
For anyone beginning their financial journey or seeking to reinforce sound money habits, "The Richest Man in Babylon" offers a proven roadmap to financial security and independence.
Inside the book
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