The Richest Man in Babylon

Outline

The Richest Man in Babylon (1926) teaches the basics of personal finance through parables set in ancient Babylon. George S. Clason tells the story of Arkad, the richest man in the city, who shares simple rules for building wealth: save at least a tenth of what you earn, control your spending, make your money work for you, protect it from loss, and invest in your own skills. The book remains a classic of financial wisdom.

• Save at least a tenth of everything you earn before spending on anything else.
• Control your spending so that your expenses do not grow to match your income.
• Make your money work for you instead of leaving it idle.
• Protect your money from loss rather than chasing risky promises of quick gains.
• Invest in your own skills, because they are part of how wealth is built.

George S. Clason (1874–1957) was an American writer and businessman who founded a map publishing company. He began writing a series of pamphlets on saving and financial success in the 1920s, using stories set in ancient Babylon. These were later collected as The Richest Man in Babylon, which has sold millions of copies.