The Richest Man In Babylon

 

Hello, I am Cody. Today I am going to share a new book with you, The Richest Man in Babylon. The characters in this book are quite small, which almost hurt my eyes. While because I want to get rich, I can take this burden to read it wholly and share the tips learned from this book to you. For the starter, the tips I am going to share may be something really basic or well-known. But I still hope you guys can think them thoroughly and really apply them to your life. Undoubtedly, we all want to get rich, but to remember, the devil is in the details.

The book stars from a chariot maker named Bansir in the ancient Babylon, who lives a destitute life while working very hard. He always sits on the wall and watching the changes in this seemingly prosperous city, thinking of how to get rich. He puzzles about why he can’t be wealthy even if he spends lots of time working. One day his friend came after him and they set up a goal to be rich. They sought for advice from the richest man in Babylon named Arkad, which is a turning point. The richest man in Babylon wasn’t that rich either. He was a slave who worked hard as well, but his purse was still empty like his burden of jobs, never completing. Fortunately, the one he worked for was a rich, elder person, whose life was coming to an end. That person taught him the secrets to get rich. The first tip is “A part of all you earn is yours to keep”. This sounds quite straight forward, telling to save money not spending it all. However, it implies you not just to save, but also to spend. We need to eat foods every day; we need to wear clothes every day and we need to do some daily routines. That means a certain parts of the money we earn have to give to others. While the money we earn is ours. We can’t avoid those necessary expenditure, and that’s totally fine to not save all of the money we earn. We just need to save a part of it, and that part could be only one-tenth. We don’t feel guilty or suffering when we spend money. We don’t need to save them for “saving them”. Instead, only to remember, if you earn ten dollars, don’t spend more than nine. That’s the principle of saving money. How can saving money bring to us? Thinking them as your workers, or your children. The money you saved is your army. Making them bring a lot more in your purse. Only when you do so, can you truly practice saving money. You have to invest them and maximize their value. The small return and a safe one are more desirable than risk. Also, the fullness of your purse is not the goal we need to achieve. The continuous income flow is the one we are pursuing. Making sure you keep money, making sure you having profit in your investment, making sure you spend parts of them. The goal is to make cash flow moving, or if no one dares to spend, there will be no other cash flow to refill your purse.