Book Review: The Richest Man in Babylon. Author: George.S.Clason.

Hello, everyone! I hope you are all doing well. Today, I shall be reviewing 'The Richest Man in Babylon' by George. S. Clason with reference to its teachings, takeaways and modern day relevance. 

It's a period story with a premise that just finding the means to earn money is not important. In fact, the real game begins once the means are sought. As working millennials, we are worried about our finances  and using the money we have to its full potential. For that, we only have to acknowledge a simple fact: Money is important. The things that money can get us are important, and it is better to understand the evils of money only after having some in hand. 

The sheen and glamour of the once grandiose Babylon is lost, and it transforms from a city of diverse trade and occupations to a mere pass-through destination. The tradesmen and workers in Babylon are worried about their finances and their lack of new skills. The want of money causes them many problems and they are left with the most bothersome question: How to earn, manage, spend and save money effectively? How to live a better life?. The only joy the Babylonians could find in this misery was the companionship of their tradesmen brethren in it. 

The richest man in Babylon,  Arkad was supposed to return from his foreign travels. He was a man who had everything you could ask for: beautiful crimson-gold robes, extensive perfumery, a great house to live in, various side investments which needless to say were profitable, a great wife and a great life. However, the thing about Arkad was that he did not become rich overnight. He was just like the other Babylonians, trying to find his way in life. The tradesmen decide to meet him and profit from his advice regarding the thing that was of utmost importance to them: money!

When Arkad met his brethren, he had kind and warm greetings to offer. Despite his riches and worldly wisdom, Arkad was humble. As the conversation between them began, the first seeker asked him:

'how to earn money?'. The answer was simple: pick a trade, work hard and live a respectable life. But, the bigger question is HOW to pick a trade? Arkad gave a very authentic answer: he told the seeker that he should pick a trade which he sees himself in, sees his future in, because every trade has the potential to make him rich and respected, but it is what he wants that matters. This would work well for those who have a fair idea regarding their future. But how about many of us who do not have much of an idea about out future?. Arkad rescues us all by giving a pragmatic advice that we can pick a trade that we know or have heard of, engage ourselves in it, earn some money from it and realize what we want in the process. If we decide to stick to that trade, it is just as well, if not the potential in other trades and professions is limitless, too. 

The next seeker must have been a millennial intern of the ancient times. He asked: I am good at my job and possess the requisite talent and skill, but my boss is using it and paying me less than a farthing for it. Arkad was known as the richest man in Babylon for a reason. He advises that talent has its own market. If your boss is not ready to give you what you rightfully deserve, have the courage to leave that place and start your own business. Carve your niche. 

The following question is very relevant even in today's times. The seeker asked: we earn enough money to get by, but our lifestyle is hard to maintain, and more often than not we find ourselves at the doorsteps of money lenders, thereafter paying their dues with an exorbitant interest, leaving behind nothing but the illusion of a good life for the sake of others. Arkad advised the seeker to spend 90% of his  monthly income and save 10% of it. At the end of the year, the amount saved would exceed the monthly amount by a certain figure. These savings can be used towards something productive and in the long run, lifestyle enhancing. Francis Bacon said. "Money is an excellent servant but a bad master". 

Arkad told the seeker to respect money and deploy it wisely for the things that and on the people who matter. 

It seemed to me that the subsequent seeker was an Indian working in Babylon. He asked : how to invest money properly? whom to trust with money and whether to lend money to family members or forever be labelled as the greedy black sheep who would not even spend as much as a penny? Arkad, like every other question, understood the importance of this one as well. He advised the seeker to invest in a trade he knew something about, because more often than not, unscrupulous investors prey upon lack of awareness. Even if you do not what the trade is about, but are fascinated by and interested in it, talk to people in that field who would offer to you a neutral perspective so that you may have an idea about your financial prospects. Make an informed decision when it comes to investing in unknown fields. 

As far as family members, friends and close relations who time and again keep asking for money and have various reasons, assurances and justifications for subsequent profits and gains are concerned, avoid them at all costs. There is a greater security in lending money to an unknown investor than to close relations and family. When money is loaned to relations, disaster ensues and in the process, you lose both, love and money. 

The next seeker asks a question that relates to one in the current times: what to do when there is an illness and how to save money for medical expenses? The answer relates to the one concerning savings. Out of the 10% monthly amount saved, save an amount as per priorities (if a person has an illness or is exhibiting causes for it, save more, if not save less) for the medical expenses by investing it in some insurance facility so that if the illness is grave and causes death, there is some amount left for the family members to get on with. Of all times, times such as these come without warning and we must do our best to prepare for those. 

The results from the application of Arkads's wisdom are a happy and meaningful life coupled with the desire to empower others. It is only natural that whilst on life's course, we stumble and fall, make some wrong decisions that lead to the right ones, it is all just as well: the stumbling, the falling and yet persisting. Persistence would result only from valuing, appreciating and taking efforts for the one gift that we do possess: the gift of work. Without work, even a palace would seem dull and with work even a hut would seem like a palace, and eventually turn into it. Love, value, appreciate, take efforts for and be passionate about your work. Everything else will fall into place. 

Let's visit the modern day English couple Mr. and Mrs. Shrewsbury. Mr. Shrewsbury is a Professor of archaeology and is currently working on decoding the tablets relating to trade, commerce and money found in ancient Babylon. On discovering Arkad's secrets, the Shrewsburys applied them to their finances. There was a veritable and palpable difference in their lives. Their savings increased, their debts were close to being paid-off. Their erstwhile financially chaotic life was now replaced by a peaceful one. 

It is important to plan your finances, but more than that it is important to work. Only when there is love for work is there an eventual productivity. Khalil Gibran wrote, "let your work be a reflection of love"and in that no type of work is better or worse than the other. Work is work. Money, as crazy as it may seem is spiritual. It has the potential to make you happy if you use and save it correctly. Money, when used wisely has as much potential to emanate happiness as meditation. After all, what is spirituality, but the alignment of the soul and spirit? Money is under-rated. It is a synthesis of materialism and spiritualism if understood in the right sense. 

This book definitely gave me some killer tips on how to save my money, how to spend it in such a way that I get more from that as well and how to be productive with money. But most importantly, it taught me how to look at money positively and not necessarily as the root of evil.

Author: Ms. Radhika Sunil Vaidya. 

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