Richest Man in Babylon -Chapter 6: The Gold Lender of Babylon

Nothing feels better than having a thick, fat wallet.

Nothing feels better than having nobody else have a claim

on your assets. Nothing feels better than being debt free.

Money brings freedom. Money brings power.

And this is the dream. This is the goal.

Seek the counsel of wise, experienced men, so they may guide you.

Buy them dinner and have a chat. Learn from them,

and apply this new found knowledge to growing your own finances.

An important insight into the handling of money is this:

"If you desire to help your friend, do so in a way that will

not bring your friend's burden on yourself."

This advice points back to the second law.

Protect your assets, and don't risk them unnecessarily.

If you lend out your money, obtain security so that if the person 

fails to pay, you can still get your money back.

Before you give away your money,

ascertain whether the borrower has the capacity to repay.

Don't get too emotional when dealing with money.

Be practical. Be logical. Be wary of get rich quick schemes.

They will get you in trouble.

Your first priority is to protect your money.

Next, you want to grow your money through wise investments.

"Better a little caution than a great regret."

"Debt is like a deep pit into which one may descend quickly

and where one may struggle vainly for many years.

It is a pit of sorrow and regrets where the brightness

of the sun is overcast and night is made unhappy by restless sleeping."

Not all debt is bad. When you borrow to buy assets

that will bring you extra income, this is honorable.

Problem arises when you borrow to satisfy short term

desires that will not create any additional income for you.

That's a terrible thing to do. This is the kind of behavior

that leads to regret. Diversify your investments

for added security. Insure your assets against loss.

You will notice that some of these lessons are repetitive,

and they all somehow relate to the five laws of gold.

So learn the five laws and make sure you abide by them.

Put them into practice in your own financial life

and watch your wealth grow.