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 thoughts on “Rapping up The Richest Man In Babylon …

  1. 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.

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

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