- Name: The Richest Man in Babylon.
- Author: George S. Clason
- Genre: Non Fiction/Finance
- Book Post No. : 52
- What is it about? : First published in 1926, this book is a modern day classic about personal finance. In around 120 pages, it dispenses financial advice in the form of parables set in the ancient city of Babylon. Most of the parables are set around the richest man in Babylon, who is admired by many, about how he got his wealth and how others can do the same.
- How I came to read it? : I usually do not read books on finance but my dad gifted me this book on one of my visits to home. He liked it and wanted me to read it as well.
- Did I like it?: Yes, absolutely! Its a great introduction to personal finance concepts. I had heard about the book multiple times but never bothered to read it or at least find out what its about. So when my dad gave me a copy I had no idea what the book was about. The foreword gave an introduction to what to expect. As I realized its about finance I braced myself for a boring read of lessons and pointers but I was wrong. The format of the book is in such a way that it gives out advice in the form of stories featuring interesting characters. You feel like you are reading stories but at the end there is always some great pointers to take away. One of the reasons the story is set in Babylon, which was a city which existed around 4000 years ago, is to drive home the point that the core financial lessons are the same then and now and it will be the same in the future. The basics do not change.
- Positives: Its brief, just about 120 pages. The stories are actually interesting and do not feel like they are merely there to prop up the lessons. And of course the pointers are pretty useful. Definitely a great introduction for any newbies and young adults to personal finance.
- Negatives: People who have read many other personal finance books may scoff at the lessons in this book as they might feel all of the advice given out is nothing new but keep in mind that this book was published almost 98 years ago and may have been one of the first books on the subject.
- Any other personal notes, observations, fun facts etc.:
Congratulations, Razzaq on your 50 book review posts. Your reviews are really commendable. I have read “The Richest man in Babylon” earlier. As you described, it’s an abridged summary of Financial acumen essential for the regular people even for organisations at scale. The ideas are simple, but that doesn’t mean that they can be ignored. The fundamental financial principles are well explained in this book, which I think are profound. The way this book explains how to save and build assets and make money work itself is straight to the point. Though the age and times of Babylon changes, the fundamental financial aspects are still the same. Thanks for reviewing this book. I suggest many people at their young age should read such financial related books to manage their hard earned money, which is important and our curriculum doesn’t teach us much about. 😅. Expecting more of such books’ review from you. ✍️
One of my earliest books on personal finance! That personal note though🤩
Thanks Dwaraka! So true! I am not that great with personal finance and this book is a good starting point for me. Looking forward to discussing more about it soon!
Thanks AJ! Yeah, my dad gifts me books from time to time! Its because of him that my whole reading journey started. Always grateful to him for that.