There is a lot material in the public space these days about how little South African’s are saving (for example, Old Mutual’s savings monitor), how much debt South African’s are in, and the desire to be educated about finance. I wanted to see if there is any easy to read and understand material out there, so I decided to finally read the most classic book on financial planning/education, “The Richest Man in Babylon” by George Clason. 

This is a must read for anyone who wants to educate themselves about how to start getting themselves out of debt and into the realm of being financially savvy.

Two of my favourite points made in the book relate to the cures for a lean purse:

Pay yourself first

For every ten coins though placest within thy purse take out for use but nine. Thy purse will start to fatten at once and it’s increasing weight will feel good in thy hand and bring satisfaction to thy soul.

Create a budget and stick to it so that you don’t spend the one tenth that you save every month.

Engrave upon the clay each thing for which thou desireth to spend. Delect those that are necessary and others that are possibly through the expenditure of nine-tenths of thy income. Cross out the rest and consider them but a part of that great multitude of desires that must go unsatisfied and regret them not.

There are many more great “rules to live by”, all portrayed in a story context, making this very easy to read and understand book a must read if you desire to become more financially savvy.