Manage Your Debts

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Review:  The Richest Man in Babylon

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There is knowledge and then there is wisdom.  Knowledge is temporary.  Over time, facts can be replaced by other facts or even lose their importance altogether.  Myths are replaced by scientific explanations; flat earth becomes a spherical Earth.

Wisdom is eternal.  It neither fades nor becomes irrelevant.  It can be passed on from generation to generation, never losing it's significance.  Wisdom is also universal.  It can be applied to numerous situations by people of all walks of life.  The Richest Man in Babylon is wisdom.


The Richest Man in Babylon, by George S. Carlson, is a collection of parables about a handful of residents of ancient Babylon and their varying experiences with money.  Some are rich, some are poor; some owe money, some are owed money.  It is through their tales that financial wisdom is imparted.  Whether it is the practices that made one individual the "richest man in Babylon" or the tale of one man and his extreme levels of debt, each story is full of insight.


The reason that The Richest Man in Babylon can be classified as wisdom is because the insight gained from each parable is both eternal and universal.  Though the book was first published in 1926, the techniques and strategies discussed are still relevant today and the pitfalls just as easy to fall into.  They also apply to nearly everyone.  You are likely to find yourself relating to at least one of the characters in the book.  By avoiding the habits of the poor and the debtors in the book and following the practices of the rich, you will be placing yourself on the path to wealth.

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