Rapping up The Richest Man In Babylon …

I was researching a post and it occurred to me that not everybody knows about the best-selling personal finance book, The Richest Man In Babylon …

… so, I found this rather ‘unusual’ summary of the book and its seven rules, which boil down to:

- Save 10% of your gross income and put it to work for you

- Reinvest the dividends (that’s how you kick in ‘compounding’ … it don’t happen automatically, bub)

- Budget your income (I’m not so sure how important this it other than to help you save the 10%)

- Own your own home

… if anybody can make head-or-tail of the other three ‘rules’ please put them in the comments

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5 Responses to “ Rapping up The Richest Man In Babylon … ”

1. Scott says:

   May 3, 2009 at 12:03 pm

   Wow, I need my secret decoder ring to figure that one out, lol.
2. Neil says:

   May 3, 2009 at 2:36 pm

   I remember giving my brother a copy of the Richest Man in Babylon. Not sure he even read it. His loss… (of his gold slaves as it were)

   Got one more (I think),

   - Have residual income. May sure your investments continue to pay you.
3. Adrian says:

   May 3, 2009 at 6:43 pm

   @ Scott – Here’s a great one: http://www.deadlykungfuaction.com/

   @ Neil – Aaah, great pickup, thanks. Anybody have any others? I think there’s 7 in all …
4. Dianna says:

   May 5, 2009 at 9:42 am

   ‘don’t let gold fly’ sounds like it might be Warren Buffets rule #1 ‘don’t loose money’
5. Adrian says:

   May 5, 2009 at 9:50 am

   Sounds good to me, Dianna