The simplest and most easy to read personal finance book: The Richest Man in Babylon Skip to Content

The simplest and most easy to read personal finance book: The Richest Man in Babylon

The Richest Man in Babylon is a personal finance book I would recommend to

  1. Beginners who want to learn about how to manage their money
  2. Parents who want to let their kids learn about saving money and what to do with their pocket money
  3. Adults who have suffered bad money management and would like to correct it

Interestingly, I recently pass this book to a colleague who

  1. Just started at her first job not too long ago
  2. Urge by her parents to pick up investing
  3. Generally don’t make sense of her money better than others

So I thought lend this book to her makes a lot of sense.

This is an easy to read book by teaching money management lessons in easy to understand parables:

  • Chapter One: The Man Who Desired Gold
  • Chapter Two: The Richest Man in Babylon
  • Chapter Three: Seven Cures for a Lean Purse
  • The First Cure: Start thy purse to fattening
  • The Second Cure: Control thy expenditures
  • The Third Cure: Make thy Gold Multiply
  • The Fourth Cure: Guard thy treasure from loss
  • The Fifth Cure: Make of thy dwelling a Profitable Investment
  • The Sixth Cure: Insure a Future Income
  • The Seventh Cure: Increase thy Ability to Earn
  • Chapter Four: Meet the Goddess of Good Luck
  • Chapter Five: The Five Laws of Gold
  • Chapter Six: The Gold Lender of Babylon
  • Chapter Seven: The Walls of Babylon
  • Chapter Eight: The Camel Trader of Babylon
  • Chapter Nine: The Clay Tablets from Babylon
  • Chapter Ten: The Luckiest Man in Babylon
  • Chapter Eleven: A Historical Sketch of Babylon

These are essential foundation for any person with money on their hands or wanted money on their hands and it is such a thin book that I should expect this to be finished within at least 5 days.

It is to my surprise that I heard she returned this book to me via another colleague, saying this book is too complicated to understand.

So my question to all that have read it: Is this book that hard for a graduate to understand?

Investment Moats is an investment weblog focusing on dividend investing, growing passive income and personal finance. Learn how to easily budget with my envelope budgeting strategy to save money and not overspend.

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yyt

Wednesday 2nd of February 2011

I find Rich Dad, Poor Dad a pretty good book to recommend to people too. Of course, minus all the MLM and marketing pitch.

I find it pretty succint in delivering the "WHY" to financial independence, which I feel is more impt than the measured steps. If one is motivated and see the need, eventually he'll find the means to achieve it.

Maybe you could recommend it to your friend. Hopefully it's easy enough for her. Happy CNY Everyone!

Drizzt

Thursday 3rd of February 2011

thats very true yyt.

Stan Chang Khin Boon

Tuesday 1st of February 2011

One of the best book I read. The olden English way of writing might be the deterring part and need some time to get a hang of but the message was clear. Every chapter is an enjoyable read. I practice them since I learnt. I think I shld reread it sometime soon just for a refresher. :)

Drizzt

Wednesday 2nd of February 2011

Hi Stan, thanks for sharing your experience. We hope to learn from you in the future as well.

WealthBuch

Monday 31st of January 2011

Just to add on, this book can be downloaded free from google. The copyright has expired.

Drizzt

Monday 31st of January 2011

cool!

Willy

Sunday 30th of January 2011

I am 99% sure I know who is the graduate colleague.

Singapore Man of Leisure - The person (If she is the one I knwo) does not have all the qualities (maybe only young) you have mentioned and no, she is no swiss banker.

Sometimes, people needs pain to grow as today's kids are so spoilt. Parent treat them as King and Queen and end up ruining their lives. (not referring to this particular colleague)

Drizzt - Maybe you can pass her a book of where to find the best food in sg/top games guide in facebook/how to win contests at Radio stations. I am sure she'll excel in them

Sorry but I cant help to take a swipe. :)

Drizzt

Monday 31st of January 2011

Hi Willy, we hope that in time, many would see the importance of this book really.

Singapore Man of Leisure

Sunday 30th of January 2011

I believe La Papillion got it right. It's not that this book is complicated, your colleague does not have the "motivation". Which I find nothing wrong :)

Even if we have the best of intentions, our way may not be the "way" for others. Different strokes for different folks.

If I am pretty and young, with long raven black hair, big eyes and big XXXX, why would I bother myself with investing when I should spend more time searching for Mr "right"? Can I go wrong with Mr Indonesian tycoon? My exit clause's monthly alimony is bigger than most investor's trading or passive income!

Before I am accused of being sexist, maybe your colleague is more like the young UBS Swiss banker who prefers to work for the welfare of others than the pursuit of money? See today's interesting article in Sunday Times.

Don't push againt a string. Wait till there's a pull, then you can start sharing to "receptive" ears :)

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