The richest man in babylon: Book summary

Hello friends, in today’s, article we see the richest man in Babylon’s book summary. this is one of my favorite books to understand money and become the rich, I read the first book on money or saving, i.e. the richest man in Babylon.

Book summary:-The richest Man in Babylon

In this book there is so many story present there to tell how to make money and build the wealth let see the Rules given in the book by chapter wise:

1. The chapter first:-The richest man in Babylon

in this chapter, you get the wonderful story about making money and save money and how much percentage money saved you have to keep money first you and then remaining money spend for living, Minimum 10% of all our income save to ourself.

2. Chapter two:  Seven cures for a lean purse:-The richest man in Babylon

In this chapter we get the seven rule for the purse with the beautiful story in this chapter let see the rules:

1)      Start the purse to fattening:  In this rule, you have the Increase the EARNING CAPABILITY ( if you make the 10 coins then spend the only nine  and one coin use to fattening the purse)

2)      Control the Expenditures:  control the expense to doing the spend money on the necessities, enjoyment, and gratify within the nine coins instead of saving.

3)      Make the Money Multiply:  then keeping money to yourself 10% percent of income and doing continuously the money is multiplied daily. (the richest man in Babylon)

4)      Guard the treasures against loss:  saving money is only use the safe investment in which money is guarded and don’t take the risk to lose all of saving money, be continuous take advice from experts and doing well profitable handling.

5)      Make of the dwelling a Profitable Investment: Doing the profitable investment without living expensive life and stick with the nine coins.  

6)      Ensure the Future Income:  make like the investment to secure our money and give the profitable income in future without loss of principle.

7)      Increase the Ability to Earn:  increase the earning capacity and develop the new skills and work with them and earn a lot. (the richest man in Babylon)

Warren Buffett said, “ more you learn, more you earn.”  Stick with this principle and increase our earning power.

3. Chapter three:  Meet the goddess of Good luck:

The chapter gives the philosophy of good luck and how people play with money and become lucky but the only way to become lucky is to take massive action are favored by the goddess of good luck.

4. Chapter Four:  The five laws of Gold:

1)      Gold comes with that man who gives the  10% of his income to himself and treats well for the family. (the richest man in Babylon)

2)      Gold labor diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even the flocks of the field.

3)      Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. Simple word ( gold does work when they invest in properly by expert advice)

4)      Gold gets those men who keep it handling properly and invest wisely in business but the owner is not familiar with this business they not approved to keep the gold.

5)      Gold flees the man who would force it to impossible earnings/or who followeth the alluring advice of tricksters and schemes or who trusts it to his own inexperience and romantic desires in investment.

5. Chapter five: The gold lender of Babylon:

In this chapter, we get a wonderful story and how to handle emotion with money Best lesson in this chapter is “just this: if you desire to help the friend, do so in a way that will not bring the friend’s burdens upon yourself.” (the richest man in Babylon)

6. Chapter six:  The wall of Babylon:

In this chapter, we get the proper guidance about the safety that given to the financial condition

The best line in this chapter is “we cannot afford to be without adequate protection”

 That type of rule present in the book I welcome you to read this book.

this is all about the richest man in Babylon book summary.

Read more books summary:

1) Rich Dad Poor Dad

2) Secrets of Millionaire Mind

3) 7 habits of highly effective peoples

4) The Intelligent Investor

5) Security Analysis

6) One Up On Wall Street

7)Common stocks and Uncommon Profits