Monday, August 31, 2009

Chapter 1- The Man Who Desired Gold

Welcome, to the first day of discussing our first Book Nook choice, The Richest Man in Babylon by George S. Clason.

This is an exciting day for two main reasons. First, it is our first time trying out the Book Nook. Second, it is our first book to discuss at Janie Out of Debt.

I am excited to begin and share all of this wonderful information with you. Are you ready to get started?

Here we go…

The format will usually go like this:
  • Discuss Characters
  • Main Ideas

  • Quotes From Chapters (that I like)

  • Take Home Points

Chapter 1- The Man Who Desired Gold

These are the characters introduced in Chapter 1- Bansir, Kobbi, Arkad, and Nomasir.

Bansir- the chariot builder of Babylon
Kobbi- the musician who was Bansir's best friend
Arkad- old friend of Kobbi and Bansir
Nomasir- is the son of Arkad

Main Ideas
  • Bansir, wished to be a man of means and wanted to be fairly rewarded for the work he was doing.
  • A man’s wealth is not in his purse that he carries. It is in the ability to make more money by having multiple streams of income.

  • Ask for advice from those who know and understand money. Beware and cautious of the advice you seek and where it is coming from.

  • It is up to you to decide if you are seeking sound advice from a trusted source.

  • Bansir, felt that Arkad was a good source of information because he was the richest man in Babylon and he was a friend. Therefore, Bansir trusted his advice.
Quotes from Chapter 1

“I wish to be a man of means. I wish to own lands and cattle, to have fine robes and coins in my purse. I am willing to work for these things with all the strength in my back, with all the skill in my hands, with all the cunning in my mind, but I wish my labors to be fairly rewarded...” page 4

“We do not wish to go on year after year living slavish lives. Working, working! Getting nowhere." page 6

Take Home Points
  • If you wish to acquire wealth you need to understand money and seek knowledge from trusted sources.

  • Find ways to create multiple sources of income for yourself, so you don’t put all of your eggs in one basket. For instance, if you just have a job then you only have one stream of income. What happens if this job goes away? Then you have zero streams of income. Now, try to brainstorm multiple streams of income that you can create for yourself to spread the risk around.

Stay tuned because next week we will be discussing Chapter 2 of The Richest Man in Babylon.

I know when I was in debt I felt just like Bansir’s character. I just worked and worked and lived pay check to pay check and had no freedom. I was seeking my advice from books and this one is full of great information!

How about you do you feel like Bansir (always working so hard and never getting ahead)?

Best wishes,



  1. i read the book and loved it. i've posted several quotes on my blog. here's one that i love: "What each of us calls our 'necessary expenses' will always grow to equal our income unless we protest to the contrary." pg 29.

  2. Good good GOOOOOOOD book! One of my favorites ;) Nice to see others spreading the good word.

  3. Thanks Ms. Money and J. Money for leaving comments. I loved this book so much too. I am actually reading it again right now to prepare for the Book Nook.

    Next week, I will be discussing Chapter 2. I would love to hear from you again.

    Best wishes!

  4. Wonderful blog! I saw it at Google and I must say that entries are well thought of. I will be coming back to see more posts soon.


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