The person who seeks to know more of their craft is capable of earning more. The more we know, the more we may earn.As you perfect your craft, your ability to earn more increases. Provide in advance for the protection of your family. Make sure your income will continue without work. “A man’s wealth is not in the coins in his purse.Do not confuse your necessary expenses with your desires. What each person calls their “necessary expenses” will always grow to match your income unless you resist that urge.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.Surround yourself with people who are familiar with money, who work with it each day, and who make lots of it.Don’t spend your money as soon as you earn it. Build for yourself a mountain of gold first, then you can enjoy as many banquets as you wish without worry.It’s too easy for amateurs to give out advice. Go to people who are experts in a particular subject if you want expert advice. Do not take advice on finance from a brick layer.You should save at least 1/10th of what you earn.You always pay others for goods and services. You will only begin building wealth when you start to realize that a part of all the money you earn is yours to keep.Youth often assumes, incorrectly, that the old and wise only have wisdom about days gone by.They never truly seek it, focus on it, and commit to it. It’s simple to say, but many people never achieve a serious measure of wealth because they never seek it.“It costs nothing to ask wise advice from a good friend.”.You must constantly have an income that keeps your purse full.Babylon was the wealthiest city in the world at the time of its height because its people appreciated the value of money.Money is plentiful for those who understand the simple laws of making money.The laws of money are like the laws of gravity: assured and unchanging.To bring your dreams and desires to fulfillment, you must be successful with money.7) Improve thy ability to earn: strive to become wiser and more knowledgable. 6) Ensure a future income: protect yourself with life insurance. 5) Make of thy dwelling a profitable investment: own your home. 4) Guard thy treasures from loss: avoid investments that sound too good to be true. 3) Make thy gold multiply: invest wisely. 2) Control thy expenditures: don't spend more than you need. The 7 simple rules of money: 1) Start thy purse to fattening: save money.This summary also includes key lessons and important passages from the book. My notes are informal and often contain quotes from the book as well as my own thoughts. This is my book summary of The Richest Man in Babylon by George S. You cannot arrive at the fullest measure of success until you crush the spirit of procrastination within you. Work hard to improve your skills and ensure a future income because wealth is the result of a reliable income stream. Save at least 10 percent of everything you earn and do not confuse your necessary expenses with your desires.
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