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The book, the Richest Man in Babylon was written in 1996 by George Samuel Clason. The book talks about a financial advice through several collections of a couple of years ago. After reading this book, I got some important lessons that are helpful in the financial matters. Spending money requires a brave mind and wise decision making. Therefore I learnt some of the rules that one should follow when spending money. One must learn to save money and should not spend without a plan or a budget. One should be able to minimize the cost of expenditure and the rate of spending to avoid wastage of money. Before investing, one should make consultations to those with ideas and this helps in wise decision making to avoid losses that might occur in the future. One should ensure that there is protection of life insurance and in addition improve on the capability to earn more money (Clason, 2011).
Some other important lessons that I learnt are the laws of gold. The first law of gold is that one should pay him or herself first before paying other employees in the business or the organization. The second law is that ensure that they invest their money well and this only happens when right decisions are made just before investing on a project or business. The third law is that one should do research and also carry out consultations to gain many ideas for an informed investment decisions. The forth law is that one should not invest in something that he is or she is not familiar with and the fifth law is that one should look for all possible means of preventing that might occur in the business.
Clason, G. (2011). The Richest Man in Babylon by George S. Clason.
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