Tuesday, October 6, 2009

Chapter 6- The Gold Lender of Babylon

Can I just tell you that I think you all are the best blog readers ever?! I mean that from the bottom of my heart. You all are so kind and I love hearing from you.

You are doing so well with this 100 day challenge. Today, I am going to discuss our next chapter in the The Richest Man in Babylon. You are welcome to join in and start reading the book. Below is a link to the book:

This chapter is all about lending money and how you should handle lending money. As a personal side note, I don't lend money. If someone is hungry and needs food then I will buy them groceries or give them a place to stay until they are back on their feet but I don't lend money. I give help in other ways. Those are my boundaries.


Rodan- the spearmaker of old Babylon

Mathon- the lender of gold and dealer in jewels and rare fabrics

Araman- Rodan's sister's husband

Main Points:

1. Safest to loan to are those whose possessions are of more value than the one they desire.

2. Loan to those who have the capacity to earn (these loans are based on human effort)

3. Loan to those who are guaranteed by good friends (co-signers)


"If you risk losing it you risk losing all that it would earn as well." page 87

"Gold, you see, Rodan, is the merchandise of the lender of money. It is easy to lend. If it is lent unwisely then it is difficult to get back. The wise lender wishes not the risk of the under taking but the guarantee of safe repayment." page 84

Take Home Points:

There is more to borrowing and lending than the passing of gold from the hands of one to the hands of another.

Better a little caution than a great regret.

If you desire to help a friend do so in a way that will not bring thy friend's burdens upon thyself.

Best wishes,

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