"Money is plentiful for those who understand the simple laws which govern its acquisition."
We work hard. We wake up at 7 AM, commute in traffic, work for 9-10 hours, and come back tired. We do this for 30 days. We earn a salary.
We pay our rent, our EMIs, our bills, and buy some groceries. And then, at the end of the month, we check our bank account...
Zero.
Does this sound familiar? You are not alone. This is exactly how the classic book The Richest Man in Babylon begins. It is a story from 4,000 years ago, but it feels like it was written for modern Indians today.
1. The Chariot Builder vs. The Musician
Bansir was a chariot builder in the ancient city of Babylon. He was very skilled. He built the finest chariots that even the rich admired. He worked from sunrise to sunset.
One day, his friend Kobbi, a musician, came to ask for a small loan of two shekels.
Bansir laughed sadly. "If I had two shekels," he said, "I would be a rich man. But I have nothing. My purse is empty."
"We have labored for all these years, yet we have nothing to show for it except our hard work. Why? Why can we not acquire gold and silver like others?"
2. The "High Salary, Zero Wealth" Trap
Let's translate this to 2026. Bansir represents the Software Engineer or Doctor.
You might be earning ₹1 Lakh per month. You are skilled. You work hard. But you have:
- A Car Loan (Liability)
- Credit Card Bills (High Interest)
- No Investments
Just like Bansir, you are good at your job (Coding/Treating Patients), but you are terrible at managing money. Being good at earning money and being good at keeping money are two different skills.
3. Finding the Mentor
Bansir and Kobbi realized that complaining wouldn't help. They decided to go to their childhood friend, Arkad.
Arkad was once just like them—poor and hardworking. But now, he was the Richest Man in Babylon. The King himself asked for his advice.
They asked him: "Arkad, we studied in the same school. We played the same games. Why did fate choose you to enjoy all the good things of life and ignore us?"
Arkad smiled and gave an answer that changed their lives (and will change yours):
"I became rich because I decided to pay myself first."
4. The Missing Subject in School
We are taught History, Geography, and Calculus in school. But no one teaches us Financial Literacy. No one teaches us how to file taxes, how to invest in SIPs, or how inflation eats our savings.
This series on "The Richest Man in Babylon" is that missing education. Over the next few posts, we will decode the 7 Cures for a Lean Purse.
Key Takeaways
- Hard Work is Not Enough: You can work 14 hours a day and still be poor if you don't know how to make your money work for you.
- Admit Ignorance: The first step to getting rich is admitting that you don't know how money works.
- Seek Wisdom: Don't ask a bricklayer about jewels. Ask a rich person how to get rich. Follow the advice of experts (like Arkad).
Frequently Asked Questions (FAQ)
Q1: Who was the Richest Man in Babylon?
A: Arkad was a fictional character in George S. Clason's book who symbolizes financial wisdom and discipline.
Q2: Why do high-income earners stay poor?
A: Because of "Lifestyle Inflation." As their income goes up, their spending goes up instantly, leaving zero room for savings.
Q3: What is the first rule of wealth?
A: "Pay Yourself First." Before paying the landlord or the grocer, keep a part of your earnings aside for yourself (Savings).
Up next: Part 2 – The 1st Cure (Start Thy Purse to Fattening).
📚 Credit & Disclaimer:
This post is a summary based on the classic bestseller "The Richest Man in Babylon" by George S. Clason.
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