The Richest Man in Babylon – George Samuel Clason


The Book in Three Sentences

Save at least 10 percent of everything you earn and do not confuse your necessary expenses with your desires. Work hard to improve your skills and ensure a future income because wealth is the result of a reliable income stream. You cannot arrive at the fullest measure of success until you crush the spirit of procrastination within you.

The Richest Man in Babylon summary

  • The 7 simple rules of money:

1) Start thy purse to fattening: save money.

2) Control thy expenditures: don’t spend more than you need.

3) Make thy gold multiply: invest wisely.

4) Guard thy treasures from loss: avoid investments that sound too good to be true.

5) Make of thy dwelling a profitable investment: own your home.

6) Ensure a future income: protect yourself with life insurance.

7) Improve thy ability to earn: strive to become wiser and more knowledgable.

  • To bring your dreams and desires to fulfillment, you must be successful with money.
  • The laws of money are like the laws of gravity: assured and unchanging.
  • Money is plentiful for those who understand the simple laws of making money.
  • Babylon was the wealthiest city in the world at the time of its height because its people appreciated the value of money.
  • You must constantly have an income that keeps your purse full.
  • “It costs nothing to ask wise advice from a good friend.”
  • It’s simple to say, but many people never achieve a serious measure of wealth because they never seek it. They never truly seek it, focus on it, and commit to it.
  • Youth often assumes, incorrectly, that the old and wise only have wisdom about days gone by.
  • You will only begin building wealth when you start to realize that a part of all the money you earn is yours to keep. That is, pay yourself first. You always pay others for goods and services. Pay yourself as much as you can. Save money.
  • You should save at least 1/10th of what you earn. More if you can afford to do so.
  • Do not take advice on finance from a brick layer. Go to people who are experts in a particular subject if you want expert advice. It’s too easy for amateurs to give out advice.
  • Build for yourself a mountain of gold first, then you can enjoy as many banquets as you wish without worry. Don’t spend your money as soon as you earn it.
  • Surround yourself with people who are familiar with money, who work with it each day, and who make lots of it.
  • Enjoy life while you are here. Do not overstrain to save.
  • Do not put your money in investments which do not pay a dividend, but also do not invest in risky places that seem too good to be true.
  • What each person calls their “necessary expenses” will always grow to match your income unless you resist that urge. Do not confuse your necessary expenses with your desires.
  • “A man’s wealth is not in the coins in his purse. It is in his income.”
  • Ensure a future income. Every person gets old. Make sure your income will continue without work.
  • Buy life insurance. Provide in advance for the protection of your family.
  • Increase your ability to earn. Improve your skills. As you perfect your craft, your ability to earn more increases.
  • The more we know, the more we may earn. The person who seeks to know more of their craft is capable of earning more.
  • You cannot arrive at the fullest measure of success until you crush the spirit of procrastination within you.
  • The 5 Laws of Gold:

1) Gold comes easily and in increasing quantity to the person who saves at least 1/10th of their earnings.

2) Gold labors diligently and multiplies for the person who finds it profitable employment.

3) Gold clings to the protection of the person who invests their gold with wise people.

4) Gold slips away from the person who invests gold into purposes through which they are not familiar.

5) Gold flees the person who tries to force it into impossible earnings.

  • If you desire to help you friend do not do so in a way that brings their burdens onto you. There are many ways to help people. You don’t have to choose the ways that restrict your time, money, energy, or ability to care for yourself.
  • The wise lender always has a guarantee of repayment should the investment go poorly.
  • Above all you should desire safety for your money. Better a little caution than a great regret.
  • Protect yourself with insurance. You cannot afford to be unprotected.
  • Do not live beyond your means.
  • No man respects himself if he does not repay his debts.
  • The soul of a free man looks at the world as a series of problems to be solved. Meanwhile, the soul of a slave whines, “What can I do?”
  • “Where the determination is, a way can be found.”
  • If you are in debt, live on 70% of what you make. Save 10% for yourself. Use the remaining 20% to repay your debts.
  • Stick with the plan. Money accrues surprisingly quickly and debts are gone fast with discipline and consistency.
  • Work attracts friends who admire your industriousness. Work attracts money and opportunity. “Hard work is the best friend I’ve ever had.”

Happy Reading.

You can buy the book from the link below

The Intelligent Investor -Bejamin Graham


Benjamin Graham would easily be the most famous investor of the 20th century, if it weren’t for his student – Warren Buffett – likely the only person to surpass him in investing brilliance.

Coming from poverty he became an excellent student at Columbia and upon graduation started his investing career with a job on Wall Street. He wrote down his investing principles in 1949 inside The Intelligent Investor, which Warren Buffett calls the best book on investing ever written.

Here are 3 key lessons from Graham’s book to help you start investing:

  1. There are 3 principles to intelligent investing: analyze for the long term, protect yourself from losses, and don’t go for crazy profits.
  2. Never trust Mr. Market, he can be very irrational in the short and medium term.
  3. Stick to a strict formula by which you make all your investments, and you’ll do fine.
  4. Always create a margin of safety while buying any stock. Never buy a stock for more than two-third of its intrinsic value.

There are 9 principles for being a Defensive investor

  1. Divide your portfolio in 50:50 (at least 50% should be kept in cash or liquid assest)
  2. Diversify your portfolio.
  3. Invest in Large companies
  4. Conservatively financed i.e. Invest in companies having current ratio of 2:1
  5. Read about Dividend history of the company
  6. Read about Earning history of the company
  7. Invest in companies having growth of at least 3%
  8. Intrinsic value of the company should be at least 1.5 times.
  9. P/E ratio should be less than 15 times.

4 Qualities of an investor are:

  1. Patience
  2. Discipline
  3. Eagerness to learn
  4. Lots of time

Qualities of an enterprise investor are:

  1. Going against the market.
  2. Divide your portfolio in 75:25 (instead of 50:50)
  3. Buying stock of companies having a good growth rate
  4. Buying stocks of companies which are traded at a lower price
  5. Buying special cases stocks.

You can buy the book from the link below.

Happy Reading 🙂

The Monk who sold his ferrari. -Robin Sharma


The Fable
The book takes the form of a fable about Julian Mantle, a high-profile attorney with a crazy schedule and a set of priorities that center around money, power and prestige. As such, Mantle represents the values of our society. The story is told from the perspective of one of his associates, who admires Mantle’s great success and aspires to be like him.

But when Mantle has a heart attack, he drops out of the game and disappears. He sells all his possessions and goes to India to seek a more meaningful existence. When he comes back, he’s a changed man. Really, it’s as if he’s a completely different person. He’s learned from some mythical Himalayan gurus who give him mystical and yet practical advice, which he shares with his former associate (and the reader).

The Concepts
The core of the book is the Seven Virtues of Enlightened Learning, which Mantle reveals one by one. Now, although the book presents them as actual Virtues learned from Himalayan gurus, it’s important to remember as you read that these are made up by the author — actually, he pulled them from other sources and put them together:

  1. master your mind
  2. follow your purpose
  3. practice kaizen
  4. live with discipline
  5. respect your time
  6. selflessly serve others
  7. embrace the present

Each of these Virtues is discussed in some detail in separate chapters, each of them with a number of concepts and habits to develop. Most of them are very inspiring and potentially very useful. After reading the book, I incorporated several of them into my life, including the ones that involve positive thinking, visualizing goals and more. Again, these are not new concepts, and have been discussed in many other books, but the book presents a great collection of useful concepts that you might want to try out.

The Problem
After reading the book, I began to outline each of the Seven Virtues, because I was confused about all the action steps the book recommends taking. The truth is, each of the Seven Virtues encompasses a bunch of daily habits, and incorporating all of them into your life would be cumbersome. And some of them seem to me to be conflicting.

As an example of the large number of habits in every virtue, here are the ones I have listed for the first virtue, Master your mind:

  • Habit: Find positive in every circumstance; don’t judge events as “good” or “bad”, but experience them, celebrate them and learn from them.
  • Habit: The heart of the rose: find a silent place and a fresh rose. Stare at the heart of the rose, the inner petals, concentrating on the folds of the flower, the texture, etc … push away other thoughts that come to you. Start with 5 minutes a day, stretch it to 20. It will be your oasis of peace.
  • Habit: 10 minutes of reflection on your day, and how to improve your next day.
  • Habit: Opposition thinking – take every negative thought that comes into your mind and turn it into a positive one. First, be aware of your thoughts. Second, appreciate that as easily as negative thoughts enter, they can be replaced with positive ones. So think of the opposite of the negative ones. Instead of being gloomy, concentrate on being happy and energetic.
  • Habit: Secret of the lake. Take a few deep breaths and relax. Then envision your dreams becoming a reality. Picture vivid images of what you want to become. Then they will become reality.

And that’s just with the first virtue. Each one has a number of habits to develop, and they’re not listed out like I’ve done here. If you tried to incorporate all of the habits in the book, your day would be very busy indeed. Also, I would recommend only trying to adopt one at a time — more than that, and your habit change will be hard to sustain.

This book can be read by a 23 year old college student who is having pressure of his exams as well as a 43 year old manager who is really burned out from his work and both will be able to connect to you.

You can buy the book from the link below:

Happy Reading.

How to win friends and influence people. – Dale Carnegie


“If there is any one secret of success it lies in the ability to get the other person’s point of view and see things from that person’s angle as well as from your own.”—Henry Ford

Ninety-nine times out of a hundred, people don’t criticize themselves for anything, no matter how wrong it may be.

Criticism is futile because it puts us on the defensive and usually makes us strive to justify ourselves. Criticism is dangerous, because it wounds our pride, hurts our sense of importance, and arouses resentment.

Don’t criticize others; they are just what we would be under similar circumstances.

Now, let me tell you about the principles discussed in the book.

Part 1: Fundamental Techniques in Handling People

  1. Principle 1: Don’t criticize, condemn or complain
  2. Principle 2: Give honest and sincere appreciation
  3. Principle 3: Arouse in the other person an eager want

Part 2: Six Ways to Make People Like You

  1. Principle 1: Become genuinely interested in other people
  2. Principle 2: Smile
  3. Principle 3: Remember that a person’s name is to that person the sweetest and most important sound in any language
  4. Principle 4: Be a good listener
  5. Principle 5: Talk in terms of the other person’s interests
  6. Principle 6: Make the other person feel important—and do it sincerely

Part 3: How to Win People to Your Way of Thinking

  1. Principle 1: The only way to get the best of an argument is to avoid it
  2. Principle 2: Show respect for the other person’s opinions. Never say, “You’re wrong.”
  3. Principle 3: If you are wrong, admit it quickly and emphatically
  4. Principle 4: Begin in a friendly way
  5. Principle 5: Get the other person saying, “yes, yes” immediately
  6. Principle 6: Let the other person do a great deal of the talking
  7. Principle 7: Let the other person feel that the idea is his or hers
  8. Principle 8: Try honestly to see things from the other person’s point of view
  9. Principle 9: Be sympathetic with the other person’s ideas and desires
  10. Principle 10: Appeal to the nobler motives
  11. Principle 11: Dramatize your ideas
  12. Principle 12: Throw down a challenge

Part 4: Be a Leader—How to Change People Without Giving Offense or Rousing Resentment

  1. Principle 1: Begin with praise and honest appreciation
  2. Principle 2: Call attention to people’s mistakes indirectly
  3. Principle 3: Talk about your own mistakes before criticizing the other person
  4. Principle 4: Ask questions instead of giving direct orders
  5. Principle 5: Let the other person save face
  6. Principle 6: Praise the slightest improvement and praise every improvement. Be “hearty in your approbation and lavish in your praise.”
  7. Principle 7: Give the other person a fine reputation to live up to
  8. Principle 8: Use encouragement. Make the fault seem easy to correct
  9. Principle 9: Make the other person happy about doing the thing you suggest

How to keep a disagreement from becoming an argument:

  1. Welcome the disagreement
  2. Distrust your first instinctive impression
  3. Control your temper
  4. Listen first
  5. Look for areas of agreement
  6. Be honest
  7. Promise to think over your opponents’ ideas and study them carefully
  8. Thank your opponents sincerely for their interest
  9. Postpone action to give both sides time to think through the problem

The effective leader should keep the following guidelines in mind when it is necessary to change attitudes or behavior:   

  1. Do not promise anything that you cannot deliver. Forget about the benefits to yourself and concentrate on the benefits to the other person
  2. Know exactly what it is you want the other person to do
  3. Ask yourself what is it the other person really wants
  4. Consider the benefits that person will receive from doing what you suggest
  5. Match those benefits to the other person’s wants
  6. When you make your request, put it in a form that will convey to the other person the idea that he personally will benefit

You can buy the book How to win friends and influence people by Dale Carnegie from the following link:

If you like How to Win Friends and Influence People, you may also enjoy the following books:

•  The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change by Stephen R. Covey

•  Start with Why: How Great Leaders Inspire Everyone to Take Action by Simon Sinek

•  To Sell Is Human: The Surprising Truth About Persuading, Convincing, and Influencing Others by Daniel H Pink.

Happy Reading.

How to develop a habit of reading


There are times where we all want to start reading books but due to some reason or another we fail. We all know the benefits of reading books yet somehow we don’t read enough books every day.

So today I am going to give you certain tips which will definitely help you to help read books with concentration.

  1. Set goals

Now we all already know this. There are times when we set goals to read 1 book per month but you should make small goals like 25 pages a day and make it a task to complete it no matter what, because then you won’t be able to defer it.

  1. Read early in the morning


Reading early in the morning is the best thing you can do and preferably after a workout. That’s because your concentration significantly improves after exercise and it also help to understand things better.


  1. Make the process enjoyable


Now most people stop reading books is because they don’t find the process enjoyable. Now, there are two types of rewards, one we get in the end and one we get during the process. You got to put rewards in between reading so as to make the process of reading more enjoyable, like doing something you really like after reading a chapter or a number of pages.


  1. Eliminate distractions


One another reason many people fail to develop the habit of reading is because we have a lot of distraction in our lives. One major being Smartphone. Earlier people used to read a lot because there were no Smartphone. All we need to do is when we sit down to read our book, just keep your Smartphone, laptop and any other distraction in another room. Just have you book on your table.


  1. Externalize your motivation


One thing you can do is become answerable to someone which create a sense that people will look down to you if you fail. For example, you can ask a friend to make sure that you completes your daily goals and can decide a punishment if you do not.


  1. Start small


Most people do the mistake of picking up difficult books in the starting which you won’t be able to read for a long time and then they decide that reading is not for them. Instead start with short stories or some easy books.


7.Find you favorite genre.


Its not necessary that you have to read each and every books but you should pick up your favorite genre and read only those. Most probably you favorite genre in movies will be your favorite genre in books too. So just pick those up and you will enjoy reading.


I hope that these tips will help you a lot.

If you like the article then please like it 🙂


Happy Reading….








  1. Rich Dad Poor Dad is about Robert Kiyosaki and his two dads—his real father (poor dad) and the father of his best friend (rich dad)—and the ways in which both men shaped his thoughts about money and investing.
  2. You don’t need to earn a high income to be rich.
  3. Rich people make money work for them.


  1. The poor and the middle-class work for money. The rich have money work for them.
  2. It’s not how much money you make that matters. It’s how much money you keep.
  3. Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.
  4. Financial aptitude is what you do with money once you make it, how you keep people from taking it from you, how to keep it longer, and how you make money work hard for you.
  5. The single most powerful asset we all have is our mind.


Lesson 1: The Rich Don’t Work for Money

There are two main emotions which can prevent people from developing wealth: fear and desire; fear of not being able to pay monthly expenses or fear of losing money keep many entrenched in the day-to-day work, preventing many from evaluating investments and other sources of income.

The desire to keep up appearances via buying expensive clothes or cars drives expenses so high that people have no choice but to stay focused on their jobs to maintain their lifestyle. Lesson one is all about understanding those two emotions and stopping them from hindering one’s success. The Rich Dad was more focused on ways of creating residual money, money that increases even if you don’t work, rather than waiting for the next job with a pay raise

Lesson 2: Why Teach Financial Literacy?

Developing financial literacy is key to having any success with money. Financial literacy is simply the study of managing one’s finances. Robert Kiyosaki breaks down the basics of financial literacy in order to show the differences in cash flow for different income levels.

There are a few key terms one would need to understand in order to see differences. Income is simply the amount of money you earn (wages, salaries, etc.). Expenses are things like (taxes, food, rent, clothes, fun, and transportation). An asset is something that puts money into your pocket (stocks, bonds, investments). A liability is anything that takes money out of your pocket (home mortgages, loans, credit card debts.)

To put it simply, the rich are able to live well off of the returns from their investments such as stocks and bonds covering any expenses. While a poor person is using the majority of his wages to pay for his prospective living expenses. In order to become wealthy, one must focus on increasing his assets (investments) rather than focusing on increasing his income (pay raises).

Lesson 3: Mind Your Own Business

As mentioned in the previous lesson, the key attribute that must be developed in order to gain wealth is to focus on your asset column. The rich focus on improving the size of their investments rather than simply waiting or demanding pay raises in their income.
This means keep your expenses low, reduce your liabilities and diligently build a base of solid assets.

Lesson 4: The History of Taxes and The Power of Corporations

This is the power of limited liability. By creating a personal corporation, the rich are able to avoid many of the personal taxes the poor face through corporate exemption. However, please note the word avoidance compared to evasion! Avoidance simply means using loopholes in tax laws to your advantage where evasion is simply not paying taxes at all, which is illegal.

By filing as a corporation, the rich are able to mitigate their losses to only the amount they invested in the corporation. They are able to pay taxes after they pay for expenses. For people who have jobs, it’s the opposite case where taxes are taken out of paychecks before one is able to cover expenses.

In Comparison:

The Rich People with Corporations
1.    Earn
2.    Spend
3.    Pay Taxes

The People who work for Corporations
1.    Earn
2.    Pay Taxes
3.    Spend

Lesson 5: The Rich Invent Money

The idea behind this is that wealth takes a combination of financial intelligence and a little bit of guts. The one thing that holds a lot of people back is some degree of self-doubt. In order to gain wealth, there needs to be a degree of self-confidence. This means investing money outside of the comfort zone. While saving at the bank seems secure, it is not worthwhile because savings rates are often below the rate of inflation. As a Young Jeezy rap lyric once goes, “Scared money don’t make money.” Kiyosaki follows the same logic, if you truly want to see your investments grow exponentially you must be willing to put in the money in places that show relative risk.

Lesson 6: Work to Learn—Don’t Work for Money

A familiar acronym for job is just over broke. Oftentimes, it’s easy to get caught up in a job as a means of security or money. However, the rich use jobs as learning opportunities to develop necessary skills to be successful.

“According to Kiyosaki, real assets fall into the following categories:

  1. Stocks
  2. Bonds
  3. Income-generating real estate
  4. Notes (IOUs)
  5. Royalties from intellectual property such as music, scripts, and patents
  6. Anything else that has value, produces income or appreciates, and has a ready market”

“Kiyosaki reminds people that financial IQ is made up of knowledge from four broad areas of expertise:         

  1. Accounting
  2. Investing
  3. Understanding markets
  4. The law”

“The main management skills needed for success are:

  1. Management of cash flow
  2. Management of systems
  3. Management of people”

“There are five main reasons why financially literate people may still not develop abundant asset columns that could produce a large cash flow. The five reasons are:

  1. Fear
  2. Cynicism
  3. Laziness
  4. Bad habits
  5. Arrogance”

“In the world of accounting, there are three different types of income:         

  1. Ordinary earned
  2. Portfolio
  3. Passive”


This is a great read especially for the ones new in the field of business or investing. In the initial chapters it starts with the basic difference between the assets and liability which is quite different from the one taught in schools. One criticism which the book has is its focus on real estate which is far more difficult for a beginner investor then explained in the books. I’d recommend this book as an excellent way to challenge your thinking about work and money, but only if you combine it with other books that make tactical recommendations of financial issues because this book doesn’t have many actionable suggestions. I will recommend some other books in the coming articles.

You can buy the books from the link below.