The Richest Man in Babylon Now Revised and Updated for the 21st Century (Paperback) - Common

In the ancient city of Babylon, a place of immense wealth and grandeur, many citizens toiled ceaselessly yet found their purses perpetually lean. Two such men, Bansir the chariot builder and Kobbi the musician, lament their empty coffers, wondering why gold seems to avoid them, despite their diligent work. They recall Arkad, their childhood friend, who has become the richest man in Babylon, and decide to seek his counsel, hoping to uncover the secret to his overflowing wealth.

Arkad, a man of great wisdom and generosity, welcomes his friends and agrees to share the principles that transformed him from a poor scribe into a man of immense fortune. He begins with the first and most fundamental cure for a lean purse: "Start thy purse to fattening." He advises that a part of all one earns is theirs to keep, urging them to save at least one-tenth of all their income before spending on anything else. This portion, he explains, is the seed from which wealth grows, and it must never be touched for immediate gratification.

Next, Arkad reveals the importance of "Control thy expenditures." He teaches that desires are endless, and unless one consciously distinguishes between necessary expenses and mere wants, their spending will always expand to consume their entire income. He urges them to create a budget, to track their spending, and to prioritize their needs, ensuring that the saved portion of their earnings remains untouched.

The third cure Arkad imparts is to "Make thy gold multiply." He explains that saved gold, like a diligent worker, must be put to work to earn more gold. He encourages wise investments, where the initial capital generates further income, and that income, in turn, generates more, creating an army of golden slaves working tirelessly for their owner. This principle of compounding, he assures, is the true path to lasting wealth.

However, Arkad cautions against losing this hard-won wealth, presenting the fourth cure: "Guard thy treasures from loss." He warns against reckless ventures and promises of exorbitant returns, advising them to seek counsel from experienced and wise individuals who have a proven track record of handling money. Gold, he states, is eager to slip away from those who do not understand its laws or trust it to inexperienced hands.

The wisdom continues with the counsel to "Make of thy dwelling a profitable investment," encouraging home ownership as a means to reduce expenses and build equity. He also speaks of the need to "Ensure a future income," highlighting the importance of planning for old age and the protection of one's family through foresight and sound investments that continue to yield returns even when one can no longer work.

Finally, Arkad emphasizes the seventh cure: "Improve thy ability to earn." He reminds them that self-improvement and the continuous acquisition of knowledge and skills are paramount. The more one learns and perfects their craft, the greater their capacity to earn, thereby increasing the stream of gold that can be saved and invested. He stresses that true success comes to those who crush procrastination and commit to constant growth.

Through these parables and the "Five Laws of Gold" - which reiterate the importance of saving, seeking wise counsel, avoiding risky ventures, owning one's home, and ensuring a future income - Arkad illustrates that the principles of acquiring and keeping wealth are not mysteries, but rather timeless truths accessible to all who choose to learn and apply them. The path to a bulging purse, he concludes, lies in discipline, diligence, and the unwavering commitment to these simple yet profound laws of prosperity.