Aakash Talks Finance

I try to read the eighth chapter of the Richest Man in Babylon by Georgle S Clason.

In this episode, we meet Dabasir, the camel trader and Tarkad, a hungry citizen who owes the former money. Tarkad has no intention to repay his debt. All he wants is to satisfy his ailing stomach. He has barely eaten for two days.

Dabasir takes Tarkad to an inn, but does not give him food. Instead he narrates a tale of how he went from a slave in Syria, to a wealthy camel trader in Babylon.

After taking on debt, he could not repay, his wife left him. He left Babylon in search of fortunes. To satisfy his luxuries he joined a band of robbers. They were eventually caught and sold as slaves.

His master’s wife Sira notices that Dabasir was unlike the other slaves. She asked him ‘You don’t have a soul of a slave, you have a soul of a free man.’ She convinced him to go back to Babylon, repay his debts and bring back his wife. He was given the opportunity to escape by Sira, and he gladly took it.

After fighting hunger, thirst and hopelessness, he made his way from the desert of Syria to the fertile lands of Babylon. There he met all the creditors he had to repay and vowed to pay them back. Eventually, he found work as a camel trader.

Through his toiling to pay back the debt he asked himself one question - ‘Do I have the soul of a free man or a slave?’ Because when anything is taken on debt, you never own it. It is owned by the bank. You’re merely a temporary holder. But if you ask yourself this question, then no debt is too big to pay back.

The author ends with the following words you can use when staring at a mountain of debt,

“Where The Determination Is,

Thank you for listening in.

If I can improve in any way, please let me know. Also drop your recommendations in the comments!

Hope this helps.

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

--  Regards, Aakash

I try to read the seventh chapter of the Richest Man in Babylon by George S Clason.

In this short episode we meet Banzar, the warrior of Babylon. He is entrusted with protecting the city from the onslaught of the Assyrians. The king and the army are away and the only defense Banzar can rely on is the walls of Babylon.

Citizens are scurrying to him concerned if the walls will hold up. Banzar reassures them that the wall has survived for a century. After nearly a month of the onslaught, the Assyrians retreat. The city’s fears turn into a stream of joy.

Protection of what’s precious is important. Just as the walls of Babylon built for safety held up, so should we ensure safety for our finances. The tools we use to do this as plenty, but a few themes we should look at are - insurance, savings, and dependable investments. These will endure difficult times and make sure we have a steady income source. Listeners, always make sure that you’re principal is safe, savings secure, and future income guaranteed.

The author concludes with the following words,

"We Cannot Afford To Be

Thank you for listening in.

If I can improve in any way, please let me know. Also drop your recommendations in the comments!

Hope this helps.

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

--  Regards, Aakash

I try to read the sixth chapter of The Richest Man in Babylon by George S Clason.

In this chapter we discuss the perils of lending your money. By now we’ve seen the importance of saving money, at least nine-tenths of it. Now, we delve into what should be done with earned and saved money.

For this, we see the tale of Rodon, the spearmaker. He has just come into good fortune. For his work, he’s received 50 pieces of gold. Not knowing whether he should lend it to his sister’s husband for his merchant’s business, he approaches Mathon, the gold lender of Babylon for advice.

Mathon takes the spearmaker through the rules he uses to discern trustworthy customers from non-trustworthy customers. He tells the tale of the ox and the ass with the moral - don’t take other people’s burden onto yourself when trying to help them. He recites the tale of those who haven’t repaid his loans, and what he learned from these encounters.

In every tale, the moral remains the same, and its etched onto the box in which Mathon keeps his borrower’s collateral, which read,

“Better a little Caution

Thank you for listening in.

If I can improve in any way, please let me know. Also drop your recommendations in the comments!

Hope this helps.

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

--

A

#investing

#finance

#books

I try to read the fifth chapter of The Richest Man in Babylon by George S Clason.

In this chapter we discuss the five laws of gold. These laws are recited by a merchant who was employed by the son of Arkad, the richest man in Babylon. The merchant recites the story of how the son - Nomasir, earned the wealth of Arkad. He had to do a series of tasks, one which would make him understand the importance of wisdom over gold.

The five laws of gold are what Arkad wanted to impart to his son. And his son did imbibe them. Though, it came to him after bitter days, when his wealth did erode.

No person can build wealth immediately. Mistakes make experiences, which we use to build our laws of gold. Whatever they may be. These are the laws which Arkad wanted to impart to Nomasir:

Find your laws of gold.

Thank you for listening in.

If I can improve in any way, please let me know. Also drop your recommendations in the comments!

Hope this helps.

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

--

A

#investing

#finance

#books

I try to read the fourth chapter of The Richest Man in Babylon by George S Clason.

In this chapter we discuss the role of luck in building wealth. Goddess luck is often seen as a central figure in building wealth. But is luck just about being in the right place at the right time, or about taking the opportunity of being in a place.

Arkad is joined by a few men of the city in the Temple of Learning. Here, they discuss the role of luck in three facets - Can luck help greed, can seizing opportunities entice the goddess of luck and can procrastination and work alight.

Through the chapter the central theme remains - opportunity before luck. Luck does not hand hold us to opportunities that make us wealthy. It is putting ourselves in the opportune moments that give us good fortune. When opportunity knocks we should be on the other side waiting for it.

Arkad concludes with these words:

Good luck can be enticed by accepting opportunities.

Thank you for listening in.

If I can improve in any way, please let me know. Also drop your recommendations in the comments!

Hope this helps.

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

--

A

#investing

#finance

#books

I try to read the third chapter of The Richest Man in Babylon by George S Clason.   

In this chapter Arkad details the final two cures. I look at the sixth and the seventh cures which are - “Insure thy future” and “Increase thy capacity to earn.”  Nobody knows what’s in store tomorrow. But we should be able to insure against anything unforeseen. Arkad gives us three ways to insure our future - hide wealth, own a house, give out debt. I’d like to propose a third - own a piece of something. This could be a business, an investment, an asset, anything. Anything, as long as it accrues income to you during a time when you cannot earn, or you aren’t there in the world at all. Always remember to insure yourself to ensure income for those who depend on you.  

In order to build wealth, one must have desire. Arkad says, the desire to build wealth should be strong and definite. It should not be confusing, numerous or unachievable. Wealth accrues to those who desire it. It can be achieved in one’s job through hard word, perseverance, and toil. But I’d also suggest incorporating more than one income stream so that your capacity is not limited to one.  

Thank you for listening in.  

If I can improve in any way, please let me know. Also drop your recommendations in the comments!  

Hope this helps.

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

I try to read the third chapter of The Richest Man in Babylon by George S Clason.   

In this chapter Arkad details the rest of the cures. I look at the fourth and the fifth cures which are - “Guard thy treasure” and “Own thy home.”  

When we begin saving, we have something we’ve never had before - an amount of money with nothing to do with it. At this point, we want to put it into something that earns us income. Arkad warns us to be wary of who we give our hard earned money to. His rule reads, ‘always protect thy principal’ and when deciding who to give it to don’t be swayed by extraordinary claims. After all, is your hard-earned money.   

Owning a home should be the goal for any person in the long run. This teaches us discipline and patience. A home is the largest investment we’ll ever make. It requires immense sacrifice, constant saving, investing but the reward Arkad suggests is one that will improve our lives. This may be difficult in the times we live in, but owning a home is something we should work toward suggests Arkad.   

Thank you for listening in.  

If I can improve in any way, please let me know. 

Also drop your recommendations in the comments!  

Hope this helps.

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

I try to read the third chapter of The Richest Man in Babylon by George S Clason.   

In this chapter Arkad details the rest of the cures. I look at the second and the third cures which are - “Control thy expenses” and “Make thy gold multiply.”  

Budgeting is one of the simple ways we can start saving more money. But how should we deal with expenses. Arkad differentiates expenses as - necessary expenses and desires. He says, spend on necessities, and worthwhile desires. Do not let your budget be burdened with unnecessary desires.  

Gold or income is something that should work for you, not you for it. In order to achieve this, start by investing some amount of your money. When you do, don’t rest the income received. Instead, make the money work for you. Make your investments produce income, which you can use to invest once again. Let that process continue until compound interest takes over.  

Thank you for listening in.  

If I can improve in any way, please let me know. 

Also drop your recommendations in the comments!  

Hope this helps.

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

I try to read the third chapter of The Richest Man in Babylon by George S Clason.   

In this chapter the king of Babylon, Sargon is displeased that the wealth of the city is held by a few people. He wants the city to be prosperous. For this, he wants those who do not know how to acquire wealth to learn. For this he summons Arkad, the richest man in Babylon.  

Arkad tells him he knows 'seven cures for a lean purse.' He is willing to teach these cures to a hundred men of Babylon.  We look at the first cure - 'start by fattening thy purse' or simply save what you receive. This will set you on the path to earning more because to him who desires more, more will accrue.  

In the next chapters we will see the rest of the cures.   

If I can improve in any way, please let me know. Also drop your recommendations in the comments!  

Hope this helps.  

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

Link to Cal Newport's book: https://amzn.to/2U6LCvu

--

I try to read the second chart of The Richest Man in Babylon by George S Clason. 

In this chapter we’re introduced to the protagonist, Arkad who is the richest man in Babylon. He shares with his peers how he managed to get wealthy. He explains the lack of luck, the teachings of mistakes, and the importance of time in his journey.  

His timeless advice is something we can all follow. He teaches us how to acquire money,  keep it and use it. This is not dependent on luck, nature or complexity. It is something we can all inculcate through simple changes.  

If I can improve in any way, please let me know. Also drop your recommendations in the comments!  

Hope this helps.   

Link to the book [English]: https://amzn.to/3A61vmr

Link to the book [Telugu]: https://amzn.to/3h8zEtp

Link to the book [Tamil]: https://amzn.to/3hbFBpq

Link to the book [Hindi]: https://amzn.to/3hdw40O

--