Lessons from The Richest Man in Babylon Pt. 2

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May 4, 2018
Lessons from The Richest Man in Babylon Pt. 2

Image Copyright Ted Grussing Photography – Used with permission

Today we continue learning the laws of money from the parables of The Richest Man in Babylon.

Last week we learned the first one:

  • Pay yourself first, ahead of everything and anyone else.

Once Arkad’s class had put back some savings, he taught them the second law:

  • Let your money earn money. Put each coin to work earning more coins.

He was teaching them about interest. Even when interest rates are low your savings can still grow!  So he explains to his class gold will work and grow for the one who will save it.

You can relate this to the principle of investing which, for many of us, would be a 401(k) or investments of some kind. Investing your money will allow it to grow more than it would in a savings account.

Those of you who have invested over a period of years have seen this firsthand. You have seen a hundred dollars a month grow into investments of hundreds and then thousands of dollars. Like a tree you planted a ‘seed’ of savings, watered it with more and eventually the seed became a tree!

Next Arkad went straight into the third law:

  • Guard your investments carefully. Be a person of wisdom.

Everyone is tempted by opportunities, which sound like an easy way to make money quickly. And many intelligent people have lost a great deal of money to fraudsters and get rich quick schemes. It’s cliché, but still important to remember if something sounds too good to be true, it probably is.

Protect your money from people and things unworthy of it. Or, as Arkad put it, “gold slips away from a man who invests it in business or purposes with which he is not familiar.”

If you are interested in George Clason’s book, you can purchase a paperback version on Amazon.

Have a wonderful weekend!

Source(s):

Clason, George S. 1874-1957. The Richest Man in Babylon: The Original Version