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Listen "EP 84 The Richest Man in Babylon: Timeless Financial Wisdom That Still Works"
Episode Synopsis
Episode Summary
In this episode of The Business Book Club, we explore one of the most enduring financial classics of all time: The Richest Man in Babylon by George S. Clason. First published in the 1920s, this book distills timeless principles of wealth-building into simple parables set in ancient Babylon—a city that built prosperity out of nothing but discipline, wisdom, and grit.
At its core, The Richest Man in Babylon is about mastering your money through habit, mindset, and methodical action. Whether you're an entrepreneur, creative, or just someone looking to get a handle on your personal finances, these ancient rules are more relevant than ever.
Key Concepts Covered
💰 Pay Yourself First
“A part of all I earn is mine to keep.”
Save at least 10% of every dollar you make—before paying anyone else.
You’ll adapt to living on 90%—but that 10% becomes the seed of wealth.
📉 Control Thy Expenditures
Our wants quickly become needs unless we’re vigilant.
Build a budget that fits within your 90%, then ruthlessly trim the excess.
Think of your budget as a tool for freedom—not deprivation.
🏡 Make of Thy Dwelling a Profitable Investment
Prioritize owning over renting to reduce long-term living costs.
Home ownership adds both stability and equity to your financial life.
📈 Increase Thy Ability to Earn
Master your craft—skill is leverage.
The more valuable you are, the more you can earn.
Strong desire + discipline = earning power.
💼 The Five Laws of Gold (aka Rules for Investing)
Save at least 1/10 of your income
Invest it wisely—let your money multiply
Protect your principal—avoid high-risk, unclear ventures
Invest only in areas you understand
Seek expert advice—don’t follow amateurs
🧨 Avoiding Financial Pitfalls
Don’t eat the children of your savings—reinvest your returns
Avoid lifestyle creep—resist premature luxury
Crush procrastination—action attracts opportunity and luck
Debt repayment plan:
10% saved
70% for living
20% goes to creditors—with discipline and transparency
Actionable Takeaways
✅ Save Before You Spend
→ Make saving 10% automatic. Build your “tree of wealth” one coin at a time.
✅ Budget with Purpose
→ Spend no more than 90% of your income. Use budgeting to plug the leaks and protect your savings.
✅ Level Up Your Skills
→ Be intentional about learning. Skill increases your value in any economy.
✅ Invest With Wisdom, Not Emotion
→ Don’t chase hype. Know what you’re investing in. Protect your principle.
✅ Act Boldly When Opportunity Knocks
→ Be ready. Be decisive. Luck favors the prepared.
Top Quotes
📌 “A part of all I earn is mine to keep.”
📌 “Our desires are many, but thy purse is small. Therefore, budget.”
📌 “Gold flees from the man who invests in businesses he does not understand.”
📌 “Where the determination is, the way can be found.”
📌 “The soul of a free man looks at life as a series of problems to be solved.”
Resources Mentioned
📘 The Richest Man In Babylon by George Clason [Get the book here]
Final Thought
Babylon became the wealthiest city in the ancient world—not because of natural resources, but through financial wisdom, discipline, and action. If they could build wealth out of nothing in the desert, what’s really stopping you?
Financial freedom isn’t a lottery ticket—it’s the compound result of simple rules, applied consistently over time.
#TheRichestManInBabylon #GeorgeSClason #FinancialFreedom #WealthWisdom #MoneyMindset #EntrepreneurFinance #PersonalFinance #BusinessBookClub #MoneyHabits #PayYourselfFirst
In this episode of The Business Book Club, we explore one of the most enduring financial classics of all time: The Richest Man in Babylon by George S. Clason. First published in the 1920s, this book distills timeless principles of wealth-building into simple parables set in ancient Babylon—a city that built prosperity out of nothing but discipline, wisdom, and grit.
At its core, The Richest Man in Babylon is about mastering your money through habit, mindset, and methodical action. Whether you're an entrepreneur, creative, or just someone looking to get a handle on your personal finances, these ancient rules are more relevant than ever.
Key Concepts Covered
💰 Pay Yourself First
“A part of all I earn is mine to keep.”
Save at least 10% of every dollar you make—before paying anyone else.
You’ll adapt to living on 90%—but that 10% becomes the seed of wealth.
📉 Control Thy Expenditures
Our wants quickly become needs unless we’re vigilant.
Build a budget that fits within your 90%, then ruthlessly trim the excess.
Think of your budget as a tool for freedom—not deprivation.
🏡 Make of Thy Dwelling a Profitable Investment
Prioritize owning over renting to reduce long-term living costs.
Home ownership adds both stability and equity to your financial life.
📈 Increase Thy Ability to Earn
Master your craft—skill is leverage.
The more valuable you are, the more you can earn.
Strong desire + discipline = earning power.
💼 The Five Laws of Gold (aka Rules for Investing)
Save at least 1/10 of your income
Invest it wisely—let your money multiply
Protect your principal—avoid high-risk, unclear ventures
Invest only in areas you understand
Seek expert advice—don’t follow amateurs
🧨 Avoiding Financial Pitfalls
Don’t eat the children of your savings—reinvest your returns
Avoid lifestyle creep—resist premature luxury
Crush procrastination—action attracts opportunity and luck
Debt repayment plan:
10% saved
70% for living
20% goes to creditors—with discipline and transparency
Actionable Takeaways
✅ Save Before You Spend
→ Make saving 10% automatic. Build your “tree of wealth” one coin at a time.
✅ Budget with Purpose
→ Spend no more than 90% of your income. Use budgeting to plug the leaks and protect your savings.
✅ Level Up Your Skills
→ Be intentional about learning. Skill increases your value in any economy.
✅ Invest With Wisdom, Not Emotion
→ Don’t chase hype. Know what you’re investing in. Protect your principle.
✅ Act Boldly When Opportunity Knocks
→ Be ready. Be decisive. Luck favors the prepared.
Top Quotes
📌 “A part of all I earn is mine to keep.”
📌 “Our desires are many, but thy purse is small. Therefore, budget.”
📌 “Gold flees from the man who invests in businesses he does not understand.”
📌 “Where the determination is, the way can be found.”
📌 “The soul of a free man looks at life as a series of problems to be solved.”
Resources Mentioned
📘 The Richest Man In Babylon by George Clason [Get the book here]
Final Thought
Babylon became the wealthiest city in the ancient world—not because of natural resources, but through financial wisdom, discipline, and action. If they could build wealth out of nothing in the desert, what’s really stopping you?
Financial freedom isn’t a lottery ticket—it’s the compound result of simple rules, applied consistently over time.
#TheRichestManInBabylon #GeorgeSClason #FinancialFreedom #WealthWisdom #MoneyMindset #EntrepreneurFinance #PersonalFinance #BusinessBookClub #MoneyHabits #PayYourselfFirst
In God we trust