Welcome to Investing for Beginners podcast, this is episode 40 in which Andrew and I are going to talk about “The Richest Man in Babylon” a book that was written by George S. Clasen.  This was written back at, but we even know the 30s is that correct?

* Learn to save money
* Put your money to work for you
* Find a way to increase your income, either from a side job or a raise at work
* Use compounding to your advantage

Andrew: yeah man I don’t have a clue, hopefully, glean something out of it.
Dave: okay fair enough, so we’re not exactly sure when the book was written without having it in front of us. Yeah but it’s one of the easiest books to read, and it is amazingly insightful, and it has a lot of great advice about personal finance.
And it was one of the first books I read when I started digging into investing in kind of personal finance. And again the name of the book was The Richest Man in Babylon, and we’re going to talk about the seven cures for fattening the purse.
So he has seven different cures that Andrew and I are going to go through and talk a little bit about so I’m going to have Andrew go ahead and start us off with number one.
Andrew: Yeah, I mean I think everybody out there who wants to complain about finances. If sees himself in as a tough situation and wants to crawl out of it should read this book and listen to this episode over and over again.
Because a lean purse I mean you can just see that imagery and when you hear those words and this very powerful love. The ancients you know these dislike very ancient mythological kind of theme that he put to this book.
So and yes it was one that I also recommend it, I recommend it in my Seven Steps to Understanding the Stock Market. I have a post where I recommend various investing books, and this is definitely up there it was one of the first I also read and just picked it up. Probably didn’t put it down until I finished reading through, it’s an easy read, and that’s super insightful, and it can inspire you because then you feel like you know what to do next because that’s the thing about a lot of these concepts we like to talk about on the podcast.
If you’ll notice Dave and I will focus more on timeless principles rather than you know what’s what was hot on CNBC yesterday I think there are certain principles and fundamental philosophies and foundations that really will work no matter if it’s 2017 or if it’s 3017.
You know what I mean it’s just one of those things and we’ve seen it like you say I think is the 1930s. I’ll put them through the book looks like he has versions from late 1920, the 1930s and 1950s. Even so, I’m sure there’s plenty of versions of this book, so this is something that you know they say when you talk about books. The longer, the older the book is, the more valuable it probably is.
Because if people are still talking about it today I mean just really stood the test of time and The Intelligent Investor is o...