Saving Advice From Benjamin Franklin

Of course, I am not saying our current President has a savings habit, though it’s possible he does, I a talking about one of our all-time greatest leaders, Benjamin Franklin.

Benjamin Franklin was good at just about everything he turned his hand to. He was a respected author, world-class statesman and diplomat, his inventions and contributions to science are still well-known today, he was also a pretty darned good philosopher.

So, it’s no surprise that with all that – you probably didn’t know he was a saver too.

Poor Richard’s Almanack – A President’s Savings Advice

Not only was President Franklin a frugal go-getter, he also wrote a regular publication called “Poor Richard’s Almanack” which was packed with awesome tips on saving money.

These are my favorite quotes of his:

  • “A bargain is something you have to find a use for once you have bought it.”
    • This is so important. The amount of frivolous garbage that we bring into our lives is incredible. Just because something is half-price (or 90% off!) doesn’t mean it has any purpose for us. We should always think about what we buy and whether we need it or we’re just buying for the sake of it
  • “Creditors have better memories than debtors.”
    • This is, in part, a restatement of “never a borrower nor a lender be” but it goes further in pointing out that it’s hard to get money back from people who borrow from us and that those who lend us money won’t forget.
  • “If you would be wealthy, think of saving as well as getting.”
    • This would be my maxim if Benjamin Franklin hadn’t beaten me to it. Saving money is the key to getting wealthier.

You see, it’s no accident that Benjamin Franklin was one of America’s greatest successes. He knew how to take care of his money and that made him a very wise man.

Why not do the same and learn to make more money yourself and then you can save more too?

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