Redundant Yes Simplistic Yes Necessary Absolutely Reading the book changes one s perspective on personal finances.
This book was absolutely fantastic It really opened my eyes to finances and has changed the way I view them One of the biggest things this book teaches is that no matter what size your income is, 10% of it is yours to keep Another is that debt is an enemy to conquer, not a necessary evil One of the families in the story did this, and had to pay rent on top of it We have long realized that renting and paying interest on a mortgage is about the same Michael and I came up with a spending plan that allots 20% of our income to actually paying off our debt, and we will be completely debt free in 9 years, and in that time we will also have allotted 10% to savings 10% of our income goes to tithing as well, so this gives us 60% of our income to live off of But we took that figure and created a plan based on that amount We re not going to starve on that figure This plan gives us less money for other things that we re used to buying, and starting out we realize that we re going to have to sacrifice to make this work, but we figure that now while our family is young is the best time to establish these habits To be completely debt free with our home before we even have teenagers will be a powerful thing We just need to focus on this master plan This book was highly motivating for me, and I recommend it to anyone who ever uses money.
This was an unusual but engaging multi layered tale about finance, business and human accomplishments that, I admit, could have been less simplistic but that was smart enough to make me think about my own financial situation and offered advice worth considering.
read it 4 years ago, LOVED it, I should read it again Fun to read, interesting, though provoking and but mostly just plain inspiring If you don t have problems with spending too much money no need to read it If you have tons of money and it s not a problem no need to read it If you live on a budget like most of it, enjoy Deserving of its well regarded status of one of the classics of personal finance.
My brother passed me this book many years ago His instructions were simple read it It ll change your life.
I read it Did it change my life Yes, in a manner of speaking.
There are many of out there who desperately want to learn the basics of handling money But, pick up the latest drudgery from your local bookstore on the subject, and you ll find yourself wading through terms and calculations that may as well be a foreign language.
The Richest Man in Babylon takes a different approach It puts the base concepts of your handling money, and puts them in a story format, whose principles are extremely easy to comprehend at least as compared to the overblown rationale behind the other financial books for the layman Due to their simplicity, the concepts are very memorable and consequently easily recalled after 10 years The last time I read this book was in 2002, and I can still remember the base concepts from the book 1 Pay yourself first Save at least 10% of your paycheck 2 Don t trust a bricklayer to buy jewels Don t get caught up in other people s excitement Go see the experts instead 3 Don t put all of your eggs in a single basket Diversify your portfolio.
4 Control thy expenses Even the richest man has a time constraint on his life Do what you enjoy, but don t overdo it 5 Increase your ability to earn That one is self explanatory etc.
Keeping these base principle in mind has helped me through these economic hard times To me, this book has become required reading for my children and my nephews.
Beloved By Millions, This Timeless Classic Holds The Key To All You Desire And Everything You Wish To Accomplish This Is The Book That Reveals The Secret To Personal WealthThe Success Secrets Of The Ancients An Assured Road To Happiness And ProsperityCountless Readers Have Been Helped By The Famous Babylonian Parables, Hailed As The Greatest Of All Inspirational Works On The Subject Of Thrift, Financial Planning, And Personal Wealth In Language As Simple As That Found In The Bible, These Fascinating And Informative Stories Set You On A Sure Path To Prosperity And Its Accompanying Joys Acclaimed As A Modern Day Classic, This Celebrated Bestseller Offers An Understanding Of And A Solution To Your Personal Financial Problems That Will Guide You Through A Lifetime This Is The Book That Holds The Secrets To Keeping Your Money And MakingThe Richest Man in BabylonRead It And Recommend It To Loved Ones And Get On The Road To RichesRE THAN TWO MILLION books SOLD