The book the Richest Man in Babylon by George Samuel Clason is a story in where indirect financial advice is given through the story of two fictitious babylonian men. The story starts with the two babylonians (Bansir and Kobbi) Comparing their wealth to their lifestyle. Whilst Comparing, the two come to the consensus that regardless of how hard the work they don’t receive the money to show it. As the two begin to feel sorry for themselves, Kobbi mentions a man by the man of Arkad who like them received the same education as them, but is very wealthy despite living in such a poor city. While talking about Arkad the two come up with an idea to ask Arkad the secret to his wealth. When asked, Arkad agrees to tell them briefly the formula to obtaining…show more content… The 1st rule is “start thy purse to fattening,” People need to continue working hard or start working hard to begin gaining a surplus of money. This has taught me that an income that an income is crucial to building wealth. The 2nd rule is “control thy expenditure,” Arkad explains “That what each of us calls our necessary expenses' will always grow to equal our incomes unless we protest to the contrary” (31). I’ve learned that the 2nd rule is especially important because it requires a great amount of discipline to to limit one spending, and to decide between needs and wants. The third rule is “Make thy gold multiply.” The book has taught me that once you’ve save 1/10th of what you've earned, you must put that money to work earning interest. If someone were to apply this method of interest into their life, they will begin to experience a steady flow of money. The fourth rule is “Guard Thy treasures from loss.” This statement has taught me that the first sound principle of investing is security. I’ve learned that threats exist to ruin me financially and for my to avoid such threats I need to understand how they work. Rule number 5 of the 7 cures to a lean purse is “make thy dwelling a profitable investment.” This rule went completely over my head, it so simple yet i’ve never thought about it. This rule has taught me that if you pay rent you’ll having nothing to show for all that wealth that’s gone in the
