Money advice usually sucks. It's either too dense, filled with jargon about "amortization schedules," or it’s some guy on TikTok yelling at you for buying a latte. But about a hundred years ago, a guy named George S. Clason figured out a way to make financial discipline actually sound... interesting. He wrote a series of pamphlets that eventually became the book The Richest Man in Babylon.
It's basically a collection of parables set in ancient Mesopotamia.
The weird thing? Even though it was published in 1926, the advice is almost disturbingly relevant today. Honestly, if you ignore the "thee" and "thou" talk, it’s basically a blueprint for not being broke. People think wealth is about luck or having a massive salary, but Clason argues it’s just about a few boring, repetitive habits.
Let's get into what actually happened in the book and why most people still mess up the easiest parts.
The Secret of Arkad: Paying Yourself First
The story starts with two guys, Bansir and Kobbi, who are struggling. They live in the wealthiest city in the world, but they’re still living paycheck to paycheck (or the ancient equivalent). They go to their childhood friend, Arkad, who is now the richest man in the city.
Arkad wasn't born rich. He was a scribe.
He tells them that he became wealthy because he finally realized one simple truth: "A part of all you earn is yours to keep."
You've probably heard the phrase "pay yourself first." That’s where it comes from. Most people get their paycheck and immediately pay the landlord, the grocer, the internet provider, and the guy who makes their coffee. By the time they’re done, there is nothing left.
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Arkad’s rule is 10%.
He says you have to keep at least one-tenth of everything you earn. If you earn ten coins, you only spend nine. It sounds too simple to work. It kinda feels like a joke. But the math doesn't lie. If you do this consistently, you start to see your "purse" fatten up, and that gives you a psychological edge.
You stop feeling like a slave to your bills.
Why the 10% Rule Fails for Most People
Most people try to save what’s left over at the end of the month. Big mistake.
There is never anything left over. Your expenses will always grow to meet your income unless you’re intentional. Clason calls this the "Seven Cures for a Lean Purse," and the second cure is "Control Thy Expenditures."
He makes a really good point: don't confuse "necessary expenses" with your "desires."
We’re all guilty of this. We think we need the faster internet or the newest phone. In Babylon, they thought they needed fancy robes and expensive wine. Nothing has changed. If you can't live on 90% of your income, you probably won't be able to live on 100% of it either, because you'll just keep finding new things to buy.
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The 5 Laws of Gold: More Than Just Saving
Once you have some money saved, the next problem is not losing it. This is where the "5 Laws of Gold" come in. Clason tells the story of Arkad’s son, Nomasir, who was given a bag of gold and a clay tablet with these laws.
Nomasir, being young and dumb, lost the gold almost immediately by betting on horses and getting scammed.
He only became successful when he actually read the tablet.
- Gold comes to the person who saves at least 10%. (We covered this).
- Gold works for the wise owner. Money should be like a "slave" that works for you and has "children" (interest) that also work for you.
- Gold stays with the cautious investor. You need to seek advice from people who actually know what they’re doing.
- Gold slips away from the unfamiliar. Don't invest in a "business or purpose" you don't understand.
- Gold flees from tricksters. If an investment promises "impossible earnings" or "romantic desires," it’s probably a scam.
Don't Ask a Bricklayer for Advice on Jewels
There’s a great example in the book where Arkad loses his first year of savings. He gave his money to a bricklayer named Azmur to buy rare jewels from the Phoenicians.
The Phoenicians sold Azmur worthless bits of colored glass.
The lesson is simple but people ignore it every day: why would you ask a bricklayer about jewels? If you want advice on money, ask someone who is actually wealthy or works with money professionally. Don't take stock tips from your cousin who is also broke.
Honestly, we do this all the time with "finfluencers" who have no real track record. We see a flashy video and think they have the secret. Clason would tell us we’re being idiots.
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The Controversial "Own Your Home" Advice
The fifth "cure" is to "make of thy dwelling a profitable investment." Basically, own your home.
This is actually one of the most debated parts of the book in modern times. Financial experts like Ramit Sethi often argue that renting can actually be a better financial move depending on the market.
But Clason’s logic was about reducing the cost of living.
In his view, if you own your house, your cost of living drops significantly once it’s paid off. This allows more of your money to go into your "gold stream" (investments). Whether you agree or not, the core principle is about long-term stability rather than just chasing the "feeling" of owning something.
Practical Steps to Babylonian Wealth
So, what do you actually do with this? It’s not about reading a book and nodding your head. It’s about the boring stuff.
- Automate the 10%. Don't even look at it. Set up a transfer to a separate account the second your paycheck hits.
- Audit your "necessities." Look at your last three months of bank statements. How much of that was actually a "need" and how much was just a "casual wish"?
- Invest in your own skills. The seventh cure is "Increase thy ability to earn." The more you know, the more you can charge for your time.
- Protect your principal. Before you put money into anything—a crypto coin, a new business, a stock—ask yourself: "Is my principal safe?" If the answer is "maybe," walk away.
Wealth isn't a sprint. It's a slow, methodical accumulation of "gold slaves" that eventually do all the work for you.
Start with the 10%. Seriously. Just do it for three months and see how it feels. Most people won't, which is exactly why most people stay broke while the "Arkads" of the world keep getting richer.
Next steps for you:
- Calculate your 10%: Open your banking app right now and look at your last deposit. What is 10% of that number? That's your "keep" amount.
- Categorize your spending: Pick one "necessary expense" that is actually a "desire" and cut it for 30 days.
- Find a mentor: Identify one person you know who is genuinely good with money and ask them for 15 minutes of their time to talk about how they started.
The principles are ancient, but the results are pretty much guaranteed if you actually follow them.