The Richest Man in Babylon is one of the best books on personal finance I've ever read. Period. While the wisdom, teachings, and principles in this book date back to the Babylonian period, they are still very relevant today.

My Key Takeaways from this Book:

-Budgeting for your expenses is crucial for a lean purse. Do not spend more than nine-tenths of your earnings.

-Increase your ability to earn. Your character and work ethic will determine your earning potential. Individuals who work the hardest on their skills and crafts will have a more significant earning potential.

-Investing is the way to fatten your purse. Only the wise, however, stand to benefit from investing because they are diligent and knowledgeable in their investments.

Book Lessons and Notes
Here are my book summaries based on my reflections, thoughts, and notes.

• The 7 Laws of Money: 1. Start thy purse to fattening 2. Control thy expenditures 3. Make thy gold multiply 4. Guard thy treasures against loss 5. Make of thy dwelling a profitable investment 6. Insure a future income 7. Increase thy ability to earn
• Make sure to pay off the necessary expenditures before gratifying your desires.
• Save at least 10% of your monthly income.
• Money is abundant for those who understand the laws of making money.
• Only when you are successful with money can you then bring your dreams and desires to fulfilment.
• Most people don't accumulate wealth because they don't truly seek it and commit to it.
• Do not spend your money as soon as you earn it.
• Get advice from wise people. Advice is free.
• Never put your money into investments that sound too good to be true.
• A man's wealth does not come from the money he has in his purse, but from his income.
• Ensure that you have a stream of passive income for your future.
• Purchase Insurance to provide advanced protection for your family.
• Always work on improving and growing your skillset as it increases your ability to earn.
• The more knowledge you incur, the greater your chances become in earning more.
• The 5 Laws of Gold: 1) Gold comes easily and in increasing quantity to the person who saves at least 1/10th of their earnings. 2) Gold labours diligently and multiplies for the person who finds it profitable employment. 3) Gold clings to the protection of the person who invests their gold with wise people. 4) Gold slips away from the person who invests gold into purposes through which they are not familiar. 5) Gold flees the person who tries to force it into impossible earnings.
• Never live beyond your means
• You're not respecting yourself by not paying off your debts.
• Hard work should be your best friend. Your work attracts people who admire your diligence. Hard work also attracts money and opportunities.

This book is jam-packed with wisdom. The book lessons I mentioned above are only a tenth of what I've learned from reading this classic. This book's advice and stories apply to anyone who wants to build wealth for themselves. I strongly advise you to add this book to your library! You can purchase "The Richest Man in Babylon" here.