Below is the entirety of my notes from reading The Richest Man in Babylon by George S. Clason.

I took notes, so you don't have to.

I read the book, so you can get to action.

As much for myself, as it is for you.

From paper to tech - all for you.

Table of Contents

• Table of Contents
• Quotes Throughout the Book to Keep Top of Mind:
• Notes:
• Introduction:
• Key Themes:
• Rules:
• 7 Cures to a Lean Purse:
• The 5 Laws of Gold:
• 3 Important Rules:
• 1. Financial Planning and Prosperity:
• 2. Responsibility and Debt:
• 3. Wealth Creation through Work:
• 4. Investment and Savings:
• 5. The Wisdom of Babylon:
• Core Teachings from the Clay Tablets:
• Conclusion:

Quotes Throughout the Book to Keep Top of Mind:

• “Ahead of you stretches your future like a road leading into the distance. Along the road are ambitions you wish to accomplish… desires you wish to gratify. To bring your ambitions and desires to fulfillment, you must be successful with money. Use the financial principles made clear in the pages which follow. Let them guide you away from the stringencies of a lean purse to that fuller, happier life a full purse makes possible. Like the law of gravity, they are universal and unchanging. May they prove for you, as they have proven to so many others, a sure key to a fat purse, larger bank balances, and gratifying financial progress.” (intro pgs.)
• “Income is the thing” (pg. 6)
• “We do not wish to go on year after year living slavish lives. Working, working, working! Getting nowhere.” (pg. 6)
• “Learn the laws that govern the building of wealth.”
• “If you would become wealthy, then what you save must earn.” (pg. 14)
• “Your savings are gone, youth, you have jerked your wealth-tree up by the roots. But plant another. Try again.” (pg. 15)
• “I found the road to wealth when I decided that a part of all I earned was mine to keep. (keep 1/10th you earn)(all you save must earn)
• ** “Wealth like a tree, grows from a tiny seed. The first copper you save is the seed from which your free of wealth shall grow. The sooner you plant the seed, the sooner shall the tree grow. And more faithfully you nourish and water that tree with consistent savings, the sooner you bask in contentment beneath its shade.”
• “Advice is one thing that is freely given away, but watch that you take only what is worth having.”
• “Opportunity is a haughty goddess who wastes no time w/ those who are unprepared.”
• “Therefore, invest thy treasure w/ the greatest caution that it be not lost.”
• “Enjoy life while you are here…. Do not overstrain or try to save too much…. llife is good and life is rich w/ things worth while and things to enjoy.”
• “Good luck waits to come to that man who accepts opportunity.”
• “Through my misfortunes, my trials and my success, I have tested time and time again the wisdom of the five laws of gold, my father, and have proven them true in every test.”
• “The spirit of procrastination is within all men…. in listening to it we do become our own worst enemies.”
• “Gold is reserved for those who know its laws and abide by them.”
• “Wealth that comes quickly goeth the same way…. Wealth that stayeth to give enjoyment and satisfaction to its owner comes gradually, because is a child born of knowledge and persistent purpose.”
• “If you desire to help thy friend, do so in a way that will not bring thy friend’s burdens upon thyself.”
• “Youth is ambitious. Youth would take shortcuts to wealth and the desirable things for which it stands.”
• “I learned that quick at a young age. It has been a pivotal experience for my life.”
• “Then be not swayed by foolish sentiments of obligation to trust thy treasure to any person.”
• “The hungrier one becomes, the clearer one’s mind works — also the more sensitive one becomes to the odor’s of food.” (pg. 94)
• “No man is otherwise who cannot respect himself and no man can respect himself who does not repay honest debts.”
• “Yet it is the plan that hath made my success.”
• “Proper preparation is the key to our success.” (pg. vii)
• “There is much more pleasure in running up such a surplus than there could be in spending it.”
• “Remember, work well-done, does good to the man who does it.”
• “Then be not swayed by foolish sentiments of obligation to trust thy treasure to any person.” (pg. 84)
• “Gold bringeth unto its professor responsibility and a changed position with his fellow men. It bringeth fear lest he lose it or it be tricked away from him. It bringeth a feeling of power and ability to do good. Likewise, it bringeth opportunities whereby his very good intentions may bring him into difficulties.” (pg. 74)
• “Babylon is an outstanding example of man’s ability to achieve great objectives, using whatever means are at his disposal…. all of its riches were man-made.”
• “Babylon became the wealthiest city of the ancient world because its citizens were the richest people of their time. They appreciated the value of money. They practiced sound financial principles in acquiring money, keeping money, and making their money earn more money. They provided for themselves what we all desire…. incomes for the future.”
• ** “Gradually I was able to repay every copper and every piece of silver. Then at last I could hold up my head and feel that I was an honorable man among men.” (pg. 102)
• “Therefore if they be patient, in time my obligations will be paid in full.” (pg. 103)
• “He had a real message for fellow sufferers, a message so important that after five thousand years it has risen out of the ruins of Babylon, just as true as vital as the day it was buried.” (Alfred H. Shrewsbury)(pg. 116)

Notes:

Introduction:

• "The Richest Man in Babylon" is a collection of parables set in ancient Babylon that imparts timeless financial wisdom and principles for wealth accumulation. George S. Clason uses these stories to teach readers about personal finance and wealth management.
• Money is the medium by which earthly success is measured. Money makes possible the enjoyment of the best the earth affords. Money is plentiful for those who understand the simple laws which govern its acquisition. Money is governed today by the same laws which controlled it when prosperous men thronged the streets of Babylon, six thousand years ago.

Key Themes:

Rules:

1. A part of all you earn is yours to keep
2. Men of action are favored by the goddess of good luck
• “She is ever anxious to aid those who please her. Men of action please her best.”
3. Better a little caution than a great regret
4. We cannot afford to be without adequate protection
5. Where the determination is, the way can be found

7 Cures to a Lean Purse:

1. Start thy purse to fattening
2. Control thy expenditures
3. Make thy gold multiply
• “the gold we may retain from our earnings is just a start. The earnings it will make shall build your fortunes.”
• “From my humble earnings I had begotten a hoard of golden slaves.”
4. Guard thy treasures from loss
• “Be not misled by thine over romantic desires to make wealth rapidly.”
• “Learn from the best”
5. Make of thy dwelling a profitable investment
6. Innsure a future income (safety net)
7. Increase thy ability to earn
• “Preceding accomplishment must be desire. Thy desires must be strong and definite.”
• “The process by which wealth is accumlated: first in small sums, then in large ones as a mean learns and becomes capable.” (exp growth)

The 5 Laws of Gold:

1. Gold cometh gladly and in increasing quantity 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.
2. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as 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.
4. 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.
5. 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.

3 Important Rules:

1. Live upon less than you could earn
2. Seek advice from those who were competent through their own experience to give it.
3. Learn “to make gold” work for you

1. Financial Planning and Prosperity:

• Future Planning: The importance of planning for future prosperity is emphasized, suggesting that one should always think ahead in terms of financial security.

2. Responsibility and Debt:

• Debt Repayment: There's a strong emphasis on repaying debts from one's earnings, highlighting the moral and practical responsibility of managing and clearing debts.

3. Wealth Creation through Work:

• Value of Work: The narrative stresses that good work not only benefits the worker but also contributes to personal success. Hard work and dedication are portrayed as foundational to wealth.

4. Investment and Savings:

• Saving: The concept of saving a portion of one's income is central. The advice given is to save at least a tenth of all you earn ("A part of all you earn is yours to keep"). This principle is illustrated through the stories of characters who become wealthy by following this advice.

5. The Wisdom of Babylon:

• Historical Example: Babylon is used as an example of human achievement in wealth creation, showing that with the right principles, anyone can achieve financial success regardless of their starting point.

Core Teachings from the Clay Tablets:

• Support Your Family: One should ensure that family members are supported and clothed, reflecting a balance between personal wealth accumulation and familial responsibilities.
• shall support and clothe my good wife who hath returned to me w/ loyalty w/ the house of her father
• Debt Management: The idea that debts should be paid off from one's income, not leaving them to burden future earnings or family.
• out of my earnings, my debts shall be paid
• The Joy of Saving: There's more pleasure in saving than in spending, suggesting a psychological benefit to financial discipline.
• Work Ethic: The phrase "Remember work well done, does good to the man who does it" underscores the intrinsic value and satisfaction derived from doing one's job well.

Conclusion:

• "The Richest Man in Babylon" uses its ancient setting to convey lessons on financial independence, the virtues of saving, the dangers of debt, and the importance of hard work. Clason's parables teach that wealth is not just about earning money but about managing it wisely, investing it, and living within one's means. The book remains a classic in financial literature for its straightforward, practical advice on achieving and maintaining wealth.

I also wrote a smaller recap of The Richest Man in Babylon here — check it out if you want:

Anthony D'Apolito III on Twitter / X

I revisited “The Richest Man in Babylon” today 📚 It’s principles held true back then and will hold true today, tomorrow, and in a centuryHere are the key takeaways for you 🧵⤵️ pic.twitter.com/rWn0C7q1p9— Anthony D'Apolito III (@anthonydapiii) February 18, 2021

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