About the Author: In 1926, George S. Clason issued the first of a famous series of pamphlets on thrift and financial success, using parables set in ancient Babylon to make each of his points. These were distributed in large quantities by banks and insurance companies and became familiar to millions. (Excerpted from page 91 of The Richest Man in Babylon. )
Have you ever longed, or, ARE you longing for wealth that makes possible all the desires you have? Be it fancy clothes, luxury vehicles, relaxing travels, or benevolent charity. But, the obvious, cruel fact that we have limited resources to meet the infinite desires blocks us from enjoying our lives at the maximum. To become a wealthy big name like Terry Kuo or Elon Musk, it takes the indomitable will of steel, the still commitment of stone, the rare opportunity of diamond, and more. We, commoners, might not be able to come by all those requirements and get wealthy overnight, but we can apply the wisdom from the richest city of the ancient world and accumulate wealth day by day.
The Richest Man in Babylon shows the basic rules of money management applied by the wealthiest people in ancient Babylon city, which are still applicable in modern days no matter how little one earns each month. Unlike other "tool" books, it uses parables that resonate with the real world to make reading more entertaining and less serious.
I am still a college student who takes part-time jobs, earning far from enough to support even myself. But the parables tell me even though I make little, I should still follow the Rules of Gold, one of which is "saving at least ten percent of your earnings and still having enjoyment in life." Before, I would have wasted all the money I earn on things that I don't often use, which suggests I am not and will not become rich unless I win the lottery. But the effect the Rules of Gold bring in the stories woke me up and made me more careful with my expenses. I have practiced this rule and saved 20 percent of my monthly earnings for a few months. Whatever I want to buy, I don't use that 20 percent unless necessary. My wallet is getting fatter and fatter now, while I can still enjoy a few decent meals each week.
A Chinese expression goes, "Gathering small sands, you get a big tower." The parables in The Richest Man in Babylon reach not only the field of finance but also the attitude we need for everything we want to achieve. Even just a small amount of time each day will make a big difference in life.
If the thoughts and fear of not having enough money always haunt you like they did me, then you might find the cure in The Richest Man in Babylon.
Hello Zack.
ReplyDeleteAfter reading your log, I am very interested in the Rule of Gold. From my perspective, although we don't need to learn the skills of getting rich to become rich, it is a skill that everyone should know about how to manage money. It's not a proverb that says, "Money is not everything, but without money, you can do nothing." Money has long occupied every corner of our daily lives, but there has been no standard answer and standard mode to operate so far. With the progress of science and technology, many institutions are flaunting the banner of helping you with financial management cheat. Therefore, more and more people doubt the authenticity of the so-called financial management channel, but they also lose the opportunity to manage money. By introducing this book through your own experience, I can more believe in the authenticity and effectiveness of "the Rules of Gold" and inspire my interest in understanding other rules and methods. I have begun to look forward to the financial management methods you want to share next time!(≧▽≦)
Hi, Zack.
ReplyDeleteThis is Joyceline. I have taken the Financial Management lecture this semester. It is valuable for me to accumulate finance philosophies in distinct countries. It’s critical to follow that Rules of Gold causes humans to inquire about investing their money rather than live from paycheck to paycheck for years. As The Richest Man in Babylon delivers the intelligent method in ancient Babylon city, it’s a sort of like Hakka traditional culture, which is considered a thrifty company in Taiwan. As a Hakka family member, I could tell you that you probably don’t want to comprehend how my father perfectly demonstrates that Hakka spirit, such as buying new clothes when the old one is broken or has a hole in it. To be frank, this taught me a lesson of purchasing a thing that you need, not your desire.
Nevertheless, I really like how you transition finance between life termini. “Even just a small amount of time each day will make a big difference in life,” a theory from your statement discloses the motto from Benjamin Franklin, an American polymath. He once said, “Energy and persistence conquer all things,” which illustrates a core of never underestimating your changes and power. I look forward to your next blog, which could at the same time improve my finance knowledge.