Deep Dive : The Richest Man In Babylon

After seven working days finally, it’s Sunday and for me, it’s blog day. First of all, thank you for valuing the first blog I got the great response to my first blog.

Personally, I like reading the self-help books. I take some key point from each book I read and attempt to implement it in my life. How about we profound plunge and talk about some key point from the book “The wealthiest man in Babylon”.

This book was written by “George Samuel Clason” who gave financial advice through gathering stories of the ancient Babylon. If we talk about Babylon it was the city, having richest and the wealthiest people. Additionally, It was also the wealthiest city in ancient time. None other city was able to defeat Babylon in the power, wealth, and prestige.

Now let’s explore the tale of Arkad who was the richest and the wealthiest man in the Babylon. One day some of his friends came to him and ask that you spent lots of money to fulfill your desires and you do charity as well, still why you are the richest man in the Babylon. Arkad smiled and revealed to them the narrative of his life that how he turn into the wealthiest man from a slave.

Years ago, Arkad was a slave.His employment was to write on the clay tablets. One day a person named Algamish, came to him and gave a big order of clay tablets and had an agreement that if he completes this order in two days Algamish will give him additional 2 coins. Arkad accepted the order and started working hard day and night. After two days Algamish came back and asked whether his order was ready or not. Unfortunately, Arkad failed to accomplish the order. Algamish got furious, yet Arkad made him calm with his offer that he will work for free if Algamish told him the secret of becoming rich. Algamish agreed and came back the very next day. Work had been finished by Arkad and then Algamish agreed to reveal his secret of becoming a wealthy man. He simply said – “You need to pay yourself from your each profit. In the event that you do it, you will end up being a wealthy man”. Having said that Algamish went back to his way. Arkad started giving himself at least 10% off his every earnings. After a year, Alghamish returned in order to know about how Arkad saved his money. Arkad told him that he had saved plenty of money and gave it to one of his friends to buy jewelry at the cheapest price possible and then he will sell it here at higher rates in order to maximize profit. Algamish asked, “Is your friend a jeweler?”. Arkad replied, “No, he is a brickmaker”. Algamish screamed “Fool! How can you give your hard earnings to a brickmaker for buying jewelry? You should have sent a jeweler in order to buy jewels”. After a few days, Arkad’s friend came back with fake jewels. Instead of getting disappointed, Arkad again started gathering money for himself. After a year, Algamish came back again to know his whereabouts. Akrad was cheerful this time and told Alghamish that from his savings he bought some bronze and gave it to shield maker. Now the shield maker is giving him a percent of his profit. Algamish said “Good, Now what you have done with the money shield maker gave you? Arkad told him that he had bought fine fabrics, smashed wine and fulfill all of his desires. Algamish laughed and said “You are cutting your tree before raising it. Next time spend the money on the investments and re-invest the returns. One day you will make plenty of money and then you can live up to all of your desires”. Arkad started investing money by going through all of the rules said by Algamish. After a year Algamish came back and asked Arkad about the savings and investments. Arkad said that “I started investments and I am again investing the returns without spending it on unimportant things”. By seeing improvement and dedication of Arkad, Algamish decided to made Arkad his partner. This is how a slave turns into the wealthiest man in Babylon.

People, If we actualize these 3 rules, we can also become rich and affluent. The rules of becoming a wealthy person are following:

1.Think of saving as paying yourself first least

Take 10% of your earnings for yourself. By doing this you will able to collect fund. After gathering funds sit tight for the best possible chance to invest it. Prepare a goal and pay yourself by sticking to that goal. Wealth is like a tree and savings are seeds of that tree. The earlier you start the savings the wealthier life you live. It would be difficult at the beginning, but after some time you will get into a habit of it.

2. Take advice from the experts

Generally, we take advices from our family and friends before taking important decisions. Instead of that, we should have a mentor who is an expert in the area. Discuss the whole scenario with the experts. By doing that you will find the right direction and get a good advice.

3. Don’t consume the returns

Each time when you get returns from an investment. Don’t blow it on unimportant matters. Just wait for the opportunity and re-invest it. By doing this frequently one fine day you will be able to generate the returns from everywhere. That will be the time when you can meet all of your desires.

If you wish to explore more, go for the richest man in the Babylon. If you have any questions, please inquire in the comment section. Share it with your friends and family.

Stop Wasting, Start Investing

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