The Richest Man of Babylon Personal Finance and History

The Richest Man in Babylon,

I wanted to read the richest man of Babylon a short finance and history book because I wanted to learn more about the most ancient history and financial lessons that apply today. I liked the book I learned more about money even in very early times and also what life was like 8,000 years ago in the earliest complete civilization.

This book called the richest man of Babylon is a mixture of a history finance economics and personal finance book and has tales that can be good to learn. The city of Babylon was founded 8,000 years ago and was the first civilization to exist. The city of Babylon was one of the best cities in the world and was one of the wealthiest and grandest through history. This book has financial lessons taught by the richest man in Babylon and includes history, finance, parables life lessons and personal finance.  

The Richest man in Babylon taught his employee to save 10% of his daily earnings and hid it away. He did this to let him build wealth and not to spend it but save it. He taught him to spend his money on religion, food and charity first and not to spend his savings on the luxury or clothes. He told his employee to spend 50% on the gods, charity and food. A year later the employee went back to him and asked him if he had saved it, and the employee told him he played a builder to get rare jewels from the trading kingdom of Phoecia but his employer was made at him and said he was a fool because a builder wouldn’t know what’s best for him.

The rules that the richest man of Babylon wrote included: saving at least 1/10 of the money earned every day, not spend to much have a cautious ownership every day. Keep the gold for solid purposes in businesses or purposes which were familiar. Money will disappear from the hands of those that try to keep high levels of profits that are impossible percentage or qualitative wise or tricksters.

A key part of the fifth rule was that investors should not be fooled into losing money to scams or trying to increase their wealth too quickly because it could cause them to lose all their money to a scam or a fool or another person or unwise investments.

This book is good, and I learned a lot about early finance, personal finance and early history. I learned history, personal finance and investing.  It also talked about giving money to charity, the gods/god, and spending money on food first, these things first. The idea of saving 10% of daily income seems really important and a great financial lesson!.