The Richest Man in Babylon, by George Samuel Clason, is as timely now as it was when it was first published in 1926. Without a doubt, it is one of the all-time greats in the genre of books about money management.

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The book details how Arkad, the son of a merchant, used the skills it taught him about managing money and developing wealth to rise from poverty to become the city of Babylon’s wealthiest citizen. Arkad was able to accomplish this with the help of the advice he received from Algamish, a wealthy money lender.

In this brief post, we examine the 7 basic principles outlined in this 91-year-old book and how you might actively use them to increase your financial security. Arkad offered “seven treatments for a lean purse” to a group of 100 men over the course of seven days in an effort to make Babylon the richest city in the world. These seven financial teachings are based on his lectures.