The latest book I have finished reading from my growing list of must-reads is George S. Clason’s The Richest Man In Babylon. Set in ancient times, it is tells of tales about how a man can accumulate abundant wealth.
I don’t know what it is with this book. In the past, I have read several personal finance books and I’ve taken from it nuggets of wisdom. But this book really made a mark in me and helped me spring into action when it comes to my own finances.
The lessons in this book are pretty simple: work hard, save, and invest. It emphasizes that you can do these simple steps in whatever salary you are receiving now. The recurrent theme in this book is also about being consistent because a truly rich person never takes shortcuts.
After reading this more than a month ago, I had the opportunity to practice its principles. I was pretty amazed with myself for really committing to save a portion of what I earn. The book says 10% of your income should be set aside for savings to be invested later on, 20% should be allocated to paying past debts, and live off on the remaining 70%. I usually struggle to live from paycheck to paycheck every month, dumbfounded and confused as to where the money went. I am proud to say that last month, it wasn’t a struggle at all.
Having my affairs taken cared of and money put away for the future gives me peace of mind and the hope that my financially-independent days are well within reach.
I recommend this book 1000% to anyone who has the same dream of financial freedom.