Chapter 1- Talks about the man who desired gold, Bansir. He was basically sitting around at work daydreaming and wondering why some of his peers were rich and he wasn't. He begins to tell his friend Kobbi about his dreams of gold and Kobbi suggests that they ask their old friend, who just so happens to be the richest man in Babylon, how he bacame so wealthy.
Chapter 2- The richest man in Babylon gives in to his friends' many inquisitions on how he became rich. He tells them how he asked another wealthy man the same question a long time ago, and he proceeded to give them the same answer. Two main lessons were "wealth grows wherever men exert energy", meaning you have to work to get money, and "a part of all you earn is yours to keep", or pay yourself first and save that money and put it towards wise investments. Needless to say, out of the many friends that he told, some didn't listen, others didn't take him seriously, but very few became inspired.
Chapter 3- The last chapter on our to-read list for this week was probably the most important. Seven Cures For a Lean Purse is a chapter that everyone in the entire world can relate to and learn from!
- Start thy purse to fattening
- Control thy expenditures
- Make thy gold multiply
- Guard thy treasures from loss
- Make of thy dwelling a profitable investment
- Insure a future income
- Increase thy ability to earn
It's not too late to start the book and read along with us Night Crawlers! Next week we will be reading chapters 4-6, so get to reading and take notes as you would in class. After all, this is a learning experience.
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Agreed its a great foundational finance book, the parable format makes the stories and lesions very easy to understand.
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