Ben was rich, Richard was poor:
I think it is no coincidence that Benjamin Franklin is remembered with his portrait on the $100 bill. He is easily one of the greatest American inventors, and one of the brightest minds we have ever known. In an ever growing quest to understand personal finance, I hear a lot of great advice from a variety of sources. In one of them I discovered Ben Franklin’s wisdom, being one of the first American personal finance author’s. I decided to share three quotes I ascribe to in the hopes that they will encourage and inspire you to seek out more Ben Franklin nuggets of truth.
I think it is no coincidence that Benjamin Franklin is remembered with his portrait on the $100 bill. He is easily one of the greatest American inventors, and one of the brightest minds we have ever known. In an ever growing quest to understand personal finance, I hear a lot of great advice from a variety of sources. In one of them I discovered Ben Franklin’s wisdom, being one of the first American personal finance author’s. I decided to share three quotes I ascribe to in the hopes that they will encourage and inspire you to seek out more Ben Franklin nuggets of truth.
The way to wealth:
I love this quote. I love even more that it goes on to say “waste not time nor money.” One of the things I hate to do most is waste time, or money. I try to manage my time and money wisely and to make sure I always have a contingency plan. Maybe that is my MBA at work, or maybe it is me trying to gain more control over my life. Ben says to start with frugality. Being frugal is not always looked upon as a good thing in our culture. Mary Hunt, who wrote several books on being frugal, understood this. She was in debt up to her eye balls, and she had tied a noose of shame around her neck. It was hurting her and her family. Frugality, for her, equaled freedom, and like Harriet Tubman, once she learned this, she in-turn helped others, creating a very lucrative subscription newsletter website, all about being a self-proclaimed “Cheapskate”.
I love this quote. I love even more that it goes on to say “waste not time nor money.” One of the things I hate to do most is waste time, or money. I try to manage my time and money wisely and to make sure I always have a contingency plan. Maybe that is my MBA at work, or maybe it is me trying to gain more control over my life. Ben says to start with frugality. Being frugal is not always looked upon as a good thing in our culture. Mary Hunt, who wrote several books on being frugal, understood this. She was in debt up to her eye balls, and she had tied a noose of shame around her neck. It was hurting her and her family. Frugality, for her, equaled freedom, and like Harriet Tubman, once she learned this, she in-turn helped others, creating a very lucrative subscription newsletter website, all about being a self-proclaimed “Cheapskate”.
Penny for your thoughts:
Save that penny as Franklin said. For years the savings rate in the US has been abysmal. We are a nation of consumers. We are also a nation of debtors. Whether saving for retirement or for what Dave Ramsey calls “a rainy day fund”, learning to save is one of the best practices you can do. When going through Financial Peace University and deciding to no longer use credit cards, building up my first starter emergency fund over $1k was difficult, but so rewarding. It was the first time in my adult life I had ever saved that much. I am a natural saver; having some money tucked away makes me feel more secure. So all those years when I was not saving, I was insecure. I thought I had to keep up with the Jones’, spending money I didn’t have, to impress people I didn’t like. No one tells you that the Jones’ are broke, and in debt too! If you read books like Thomas Stanley’s “The Millionaire Next Door”, you will see that most millionaires are savers. Now, who wants to be a millionaire?
Save that penny as Franklin said. For years the savings rate in the US has been abysmal. We are a nation of consumers. We are also a nation of debtors. Whether saving for retirement or for what Dave Ramsey calls “a rainy day fund”, learning to save is one of the best practices you can do. When going through Financial Peace University and deciding to no longer use credit cards, building up my first starter emergency fund over $1k was difficult, but so rewarding. It was the first time in my adult life I had ever saved that much. I am a natural saver; having some money tucked away makes me feel more secure. So all those years when I was not saving, I was insecure. I thought I had to keep up with the Jones’, spending money I didn’t have, to impress people I didn’t like. No one tells you that the Jones’ are broke, and in debt too! If you read books like Thomas Stanley’s “The Millionaire Next Door”, you will see that most millionaires are savers. Now, who wants to be a millionaire?
Learning to be content:
Who needs to learn to REJOICE in their portion? Be happy for what you have? I remember when I was flat broke, almost homeless, in debt, depressed, and suicidal. I remember being jobless with no prospects, with barely enough money to eat. I overcame those obstacles and luckily friends and family came to my aid, but I learned something in that immense struggle. I learn to be grateful. It could have been much worse. I could have had no one to turn to. I could have not had the inner strength or supernatural energy to keep going. I could have given up. Now that I have more and I am doing better, I try not to compare myself to others. I try to rejoice in my portion, knowing that if I am faithful over little, I can eventually be responsible over much. Years ago, I was in a summer dinner theatre, and I would always get passed up for a lead role, and I asked the director, Roberta, why, and she said “I would never put you into a role that you were not equipped or ready for. When you are ready to be a lead, you will be cast as a lead.” It meant that I had to rejoice at where I was that day, and put in the work to be able to be a leader in the future. If you are not rejoicing with what you have now, learn an attitude of gratitude and contentment. You will be so much happier you did, and the universe will reward you in due time. God sees what you are doing. If you want more “Benjamins” in your pocket, this might just be the ticket. Try it and see.
Have you learned any great money quotes that have helped you? Please share!
Who needs to learn to REJOICE in their portion? Be happy for what you have? I remember when I was flat broke, almost homeless, in debt, depressed, and suicidal. I remember being jobless with no prospects, with barely enough money to eat. I overcame those obstacles and luckily friends and family came to my aid, but I learned something in that immense struggle. I learn to be grateful. It could have been much worse. I could have had no one to turn to. I could have not had the inner strength or supernatural energy to keep going. I could have given up. Now that I have more and I am doing better, I try not to compare myself to others. I try to rejoice in my portion, knowing that if I am faithful over little, I can eventually be responsible over much. Years ago, I was in a summer dinner theatre, and I would always get passed up for a lead role, and I asked the director, Roberta, why, and she said “I would never put you into a role that you were not equipped or ready for. When you are ready to be a lead, you will be cast as a lead.” It meant that I had to rejoice at where I was that day, and put in the work to be able to be a leader in the future. If you are not rejoicing with what you have now, learn an attitude of gratitude and contentment. You will be so much happier you did, and the universe will reward you in due time. God sees what you are doing. If you want more “Benjamins” in your pocket, this might just be the ticket. Try it and see.
Have you learned any great money quotes that have helped you? Please share!