The Richest Man in Babylon: Get Advice from Someone Who Knows What He's Talking About

It's mind-boggling to me how some people turn over their finances to a salesperson or an unqualified loser without a second thought. They might as well just use their money to build a fire in their fireplace. At least then it's put to a good use.

This is the same thought highlighted in this excerpt from The Richest Man in Babylon:

Advice is one thing that is freely given away, but watch that you take only what is worth having. He who takes advice about his savings from one who is inexperienced in such matters shall pay with his savings for proving the falsity of their opinions.

As far as I'm concerned, the best person to manage your money is you. That's why Free Money Finance is here: to help you (and me!) become knowledgeable so we can manage our own money and grow our net worths.

I have to end with a mini-commercial for this book The Richest Man in Babylon. If you haven't read it -- you simply have to get a copy. Even if you don't want to buy one (though you should -- so you can read it several times and highlight key parts), you should still get a copy from your library and read it a few times. There's tons of simple, financial wisdom that with certainly help you grow your net worth tremendously.

Comments

[Blaine Moore (Run to Win)]

Another advantage that the book has is that it is real short and easy to read; you can get through it in an afternoon if you want to breeze through the first time.

I need to find my copy of it. It got packed up somewhere during our move a few weeks ago...

[Greg]

First, thanks so much for highlighting such a great book. I've read it several times and while I'm still quite a ways from being able to implement the suggestions to the letter, I'm light years from where I was.

Secondly, I used to work for Primerica Financial Services and I quit after just a couple of years for one HUGE reason: I was fine selling life insurance because I believe whole-heartedly in term life insurance for most people and I've been experienced with it since before I was 12 years old.

BUT - and this is a HUGE but - I was being taught to sell people on the idea of trusting me and my magical computer program to "guarantee" their future. At the time, I had started with PFS because my finances were in such horrible shape and I wanted to fix it. So, I didn't know any more than the folks I was supposed to "help".

Since it was a total lack of integrity, I started getting sick to my stomach before every sales appointment, which was sold to the potential client as a chance to see what the company does to help people.

Admittedly, the company can make a big difference for many people, but I just didn't feel right trying to convince someone I could help them with their finances when I had raided the couch cushions for the gas money to get to the appointment.

Just my two-cents.