The Richest Man in Babylon, written by George S. Clason, is set in ancient Babylon and tells the fictional story of Arkad. Babylon was known for excelling in multiple fields, which led the Babylonians to great riches and wealth. The book consists of 10 parables that provide financial advice and serve as guidelines to save and earn money.
This series of short stories is very straightforward and easy to follow, making this book especially well-suited for young readers looking to learn the fundamentals of money management. A number of the morals recur throughout the book, making them effortless to remember. Although first published almost 100 years ago, the principles discussed in the book are still highly relevant to this day. Even those who are more familiar and experienced in the world of finance will find that the Babylonian parables are much more engaging than many of the other finance books out there. The 194-page book uses short fictional stories to give real financial advice, which makes for a fast but captivating read.
Clason’s choice to format his book as a collection of allegorical stories makes the load of understanding how to make financial decisions more approachable. It makes it easier for the reader to grasp the stories so that they can apply these financial guidelines to the rest of their lives. Instead of just providing the readers with a list of financial advice bullet points, he uses the fictional world of Babylon to tell a story.
There is a large emphasis on hard work and not procrastinating in the book as well, which discusses that hard work is essential, but it’s only the base of wealth. The idea that someone can work hard, but not take advantage of opportunities can be seen in different scenarios throughout the book. The book suggests that you cannot just dream of the life you want, but you need to have aspirations and goals. It also highlights the importance of taking initiative to forge the life you want to live, instead of relying on things revealing themselves to you. And, it explores the idea of luck and how good luck rewards those who earn it.
All in all, The Richest Man in Babylon touches on different financial values in a way that is easy to understand for all. The use of short stories has a lasting effect on the reader and allows them to continue to use this advice in the future. Clason effectively teaches the reader important lessons through a collection of engaging and thought-provoking parables.
I would suggest this book to anyone who wants to learn the basics of handling their money responsibly.