The Richest Man in Babylon, written by George Samuel Clason, offers financial advice through analogies set in ancient Babylon.  The book’s characters all learn the basic principles of financial wisdom through managing their own finances in a way that provides them with the means to achieve the ultimate goal: financial freedom.

Though set in ancient Middle-Eastern times, the characters find themselves in situations that modern day people can relate to, thus giving the impression that the wisdom on display is timeless, and will stand present day people in good stead, exactly as it did the ancient Babylonians.

One of the key elements of The Richest Man in Babylon is the message of how to become financially free. This is demonstrated through the Seven Cures for a Lean Purse:

1. Start thy purse to fattening
2. Control thy expenditure
3. Make thy gold multiply
4. Guard thy treasures from loss
5. Make of thy dwelling profitable investment
6. Insure a future income
7. Increase they ability to earn

While the book explains these seven steps in great detail, it is important to note here the basic principles of the financial wisdom on offer.

• A part of all you earn is yours to keep, but it shouldn’t be less than a tenth no matter your income.
• Never take financial advice from someone who is inexperienced on the matter, or you will lose your money.  Instead, seek advice from those who have earned the right to divulge it, and save yourself from error in the process.
• Make your money work for you, and not the other way round. But be willing to put the effort in, as laziness is never rewarded.
• When opportunity strikes, it will favour those who are prepared.
• Investment is not a quick fix to make making money, but the right one will provide long-term rewards.

It is believed that if these rules are adhered to, and the seven steps followed, then you will achieve financial wisdom, and you will reap the benefits.

Overall, The Richest Man in Babylon tells a tale of man versus man, a struggle with oneself to exhibit self-control and discipline on spending.  Handling wealth is often a problem for people, but The Richest Man in Babylon goes a long way to dispersing the notion that financial freedom is impossible to achieve. The storybook characters are obviously a method of relaying the message to the reader, helping them to relate to the situations described.

But that message is loud and clear: follow the simple rules laid out in the text and you will achieve not only financial wisdom, but the freedom that comes with it.