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The Richest Man in Babylon | 
 enlarge | Author: George S. Clason
Publisher: New American Library
Category: Book
List Price: £5.99
Buy New: £0.41
You Save: £5.58 (93%)
New (47) Used (16) from £0.41
Rating:  102 reviews
Sales Rank: 864
Media: Paperback
Edition: New edition
Pages: 160
Number Of Items: 1
Shipping Weight (lbs): 0.2
Dimensions (in): 6.7 x 4.1 x 0.6
ISBN: 0451205367
Dewey Decimal Number: 332
EAN: 9780451205360
ASIN: 0451205367
Publication Date: February 1, 2004
Availability: Usually dispatched within 1-2 business days
Shipping: International shipping available
Condition: Brand New Book direct from the publisher. Takes 7 business days to ship from New York. Usually delivered in 2 weeks.
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| Customer Reviews: Read 97 more reviews...
How to get rich slowly September 20, 2008
Cupid Stunt (Cardiff)
This is just about the best non fiction book I have ever read and most certainly the best 4 I ever spent.
There are many thousands of books out there which claim to make us millionaires over night, many of which are sold here on Amazon. But while they quite often have overall 5 star ratings, you never actually see any customer reviews informing us they did indeed become a millionaire over night. What The Richest Man In Babylon does though is instead tell us that through using common sense and a bit of self discipline, we can all become rich over time.
The synopsis is simple, through a series of very brief stories taken from recently excavated scrolls perportedly found in the ancient lost city of Babylon, you are told how to manage your money. Each little tale has one main message and pretty much all of them ring true today.
The startling thing about the success of this book for me was that there isn't actually anything new in it. The classic example of this is one of the early messages: 'Spend less than you earn and you will become rich.' Duh! Blatantly obvious really but if you think about it how many of us in this day and age actually do this? Where credit is so easy to obtain, how many of us now live beyond our means? I genuinely feel this should be given to kids and taught in schools as they are the ones who would most benefit from it.
One of the tales did stick in my throat a little bit and is slightly more difficult to apply in today's society: A chap in considerable debt who has decided to turn his life around is advised to go and see all his creditors to inform them that he is sorting it out and that they will get their money back gradually over a certain period, all the while still maintaining his 'spend less than he earns' mantra.
A good idea indeed but not very practicle in today's economy. Let's say an individual owes a large amount on their credit card and their minimum payments plus their other outgoings amount to more than they earn. (sound familiar?!) If he goes to his credit card company and says "look, sorry - I can't pay what you want each month but can give you 100 a month until it's cleared." The credit card company will probably agree to this in some form or another, after all 100 is better than nothing and this is pointed out in the book. But this kind of Individual Voluntary Arrangement today now becomes a social stigma and official black mark against our name, effectively stopping us from getting mortgages or any other type of ligitimate credit in the future.
The author of the 'scrolls' would say that this was not an issue as we should never use credit but today it is a necessary part of life and certainly about the only way most of us would be able to buy a house.
This minor quibble aside, I still wholeheartedly recommend this book to anyone who listens (and a few who don't, especially if they have kids too young to have made their parents' financial mistakes). Unlike one previous reviewer, I found the style very easy to read and even managed to get through entire chapters while waiting for my kettle to boil!
While there isn't really any true method to follow as such, I've applied the messages to my finances where possible for nearly 2 years now and have reduced my debt to a 10th of what it was and saved up a tidy few quid. I know it won't make me rich over night on it's own but I also know that I certainly won't be working for the rest of my life!
Get it, read it, follow what it says and you will become rich evetually.
Motivating a Wealth Mentality! August 25, 2008
C. Clayton (Tucson AZ)
I read this book back in 1994. It has much timeless knowledge.
The Richest Man in Babylon is an inspirational book on helping to create an investment mentality by using parables of how the Richest Man in Babylon would have invested. It is for beginning investors who need good reasons to develop a proper mindset to start working towards becoming financially independent. It also is a good book for recharging a wealth mentality in any investor.
The concepts in the book are simple, but their effects on wealth are profound! For example, George Clason covers The Five Laws of Gold . From the version I read, they are:
I. Gold cometh gladly and in increasing quantities 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 in 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.
Overall an excellent book for beginners though advanced investors.
The Re-Discovery of Common Sense: A Guide To: The Lost Art of Critical Thinking
Financial detox! August 19, 2008
Aphrodite
'The Richest Man in Babylon' is inspirational and has radically changed my outlook on my finances. It begins by using a parable about a poor man in Babylon who seeks the advice of a wealthy man to let him know the secrets of his seemingly never ending pot of gold. He discovers that these secrets are actually quite straightforward and easily put into practice, which he does with proven results. Pitfalls are overcome and all the while we are learning the core rules of accumulating wealth, maintaining wealth and, most importantly, multiplying wealth.
Although this book is set in Ancient Babylon the rules still apply today, although now we are talking about money in the bank as opposed to bars of gold or shekels in your purse! Overall this has given me a far more balanced view of my money and life in general. It almost feels like you are cleansing your soul as you read it - a sort of mind detox! So for anyone who dreads opening letters from the bank or buries their head in the sand, this book is for you!
Brilliant August 9, 2008
D. L. Anderton (UK)
This book is quite simply brilliant. I have bought copies for other people as presents and all of them really enjoyed it. Yes its message is simple, but simple ideas are nearly always the best. Do your self a favour and just buy it now.
Excellent July 25, 2008
N. Entwistle (UK)
1 out of 1 found this review helpful
Very good book to help you examine your way of thinking to finance. Ideal for the beach when on holiday or a long plane flight as the book is difficult to put down, one of the few really good books on finance. The government should make this a part of the national curriculum in school to make future generations more responcible and sucessful with their own personal finances.
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