I know I used to listen to Dave Ramsey a lot when I was first starting now he gets phone calls from people all around the world, and they tune into his radio show and a lot of them say hey man I’m in a ton of debt and you know I make like twenty-five thousand a year and I’ve got like 50 grand in debt. So start off with this note, this number one point is to make sure you have that foundation down, and you hear this a lot with a lot of the personal finance gurus. Get yourself a good-paying job, equip yourself with skills and education to be able to create an income for yourself basically and then from there make more income. I mean obviously if you want to make money you got to have money, and a great way to get money as the beginner is to get yourself a good career. yeah you see this advice if you talk to anybody who wants to talk about being successful. The first point is starting thy purse to fattening. So pay attention don’t take these cures for a lean purse lightly it’s just some really good stuff so now that I’ve gone on a complete tangent let me answer what you said number one. The longer, the older the book is, the more valuable it probably is.īecause if people are still talking about it today I mean just really stood the test of time and The Intelligent Investor is one of those The Richest Man in Babylon this book is one of those. 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. I’ll put them through the book looks like he has versions from late 1920, the 1930s and 1950s. 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. 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. 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. 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. So and yes it was one that I also recommend it, I recommend it in my Seven Steps to Understanding the Stock Market.
The ancients you know these dislike very ancient mythological kind of theme that he put to this book.
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.īecause a lean purse I mean you can just see that imagery and when you hear those words and this very powerful love. 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.Īndrew: Yeah, I mean I think everybody out there who wants to complain about finances. 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. 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.Īnd it was one of the first books I read when I started digging into investing in kind of personal finance. Find a way to increase your income, either from a side job or a raise at workĪndrew: yeah man I don’t have a clue, hopefully, glean something out of it.ĭave: okay fair enough, so we’re not exactly sure when the book was written without having it in front of us.
This was written back at, but we even know the 30s is that correct? 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.
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