Monday, January 17, 2005

Happy Birthday Ben Franklin

Happy Birthday to you Happy Birthday Ben Franklin

Only 299 years old! Let's save some Ben Franklins today!

In 1757, Benjamin Franklin published "The Way To Wealth", a basic summary of his 25 year “Poor Richards' Almanac.” In "The Way To Wealth", Honorable Mr. Franklin states the following:

"Then since, as he says, the borrower is a slave to the lender, and the debtor to the creditor, disdain the chain, preserve your freedom; and maintain your independency: be industrious and free; be frugal and free. At present, perhaps, you may think yourself in thriving circumstances, and that you can bear a little extravagance without injury; but, For age and want, save while you may; No morning sun lasts a whole day..."

There's a chock full of great wisdom to be gleaned from this paragraph of text. I encourage you to read it carefully, and absorb as much as you can from this man. He was, after all, just a man. But a great man. In fact, Benjamin Franklin believed that you are no different than he. He also believed in hard work, and perseverance, and the value of time management. These basic precepts, if mastered, could lead you down the same path of immense wealth as Benjamin Franklin.

But for today, I'd like you to focus on the last sentence. Mr. Franklin advises that no matter how things may now seem, your own morning sun does not last forever. This means that you simply must learn to recognize the value of money, the power of money, and the wealth that comes, simply by using that power to push the future, as opposed to spending it all on the wants and desires generated by today. It is now, not then, that you must save. It is through resisting temptations and want, and through saving while you are able and younger, that you can rise beyond your morning sun, and move ever so steadily into a life of wealth and financial prosperity.

Mr. Franklin is also well known for another famous quote:

"A Penny Saved, is a Penny Earned."

Enjoy your saving!


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