All about the Benjamin’s - Old School Finance for New School Wealth

As often alluded to in today’s pop culture, achieving successes and wealth is all about the “Bengies”. So what was it about the original “Benjamin” that makes him synonymous with wealth and luxury? On the surface the obvious answer is that his face is on the $100 bill. True, but lets dig a little deeper - what was it that got Mr. Franklin immortalized on our currency?

Looking back over his life you’ll find that Franklin was a prolific scientist, inventor, politician, activist, diplomat and writer. He really did a lot with his life - how on earth did he ever find the time? Two words – Financial Freedom. It was Franklin’s well grounded fiscal policies that set him on the track to financial freedom. Just like everyone else, with financial freedom comes personal freedom, and with personal freedom one has the opportunity to truly shine and do things that make them happy. The great thing about Franklin is that he wasn’t secretive with his steps to financial success; in fact over 250 years ago he decided to write them down and share them with the rest of the world. In his book “Way of Wealth” Franklin spells out tips and nuggets of wisdom that he used to achieve financial freedom. What’s truly amazing about his advice is that a lot of it is still regarded as best practice. I guess when it comes to money and personal success it really is – “All about the Benjamin’s”.

Over at “PickTheBrain” John Wesley has listed out 78 tips that he’s gleaned from Franklin’s book the “Way of Wealth”. Head over to his site for ton of other cool articles on finance and such.

Courtesy of John’s site, I present to you 78 timeless money tips from Ben Franklin’s “Way of Wealth”.

Enjoy!

Industry (1-39) - Energetic devotion to a task or an endeavor; diligence.

Early to bed, and early to rise, makes a man healthy, wealthy and wise
Diligence is the mother of good luck
God helps them that help themselves
Sloth, like rust, consumes faster than labor wears, while the used key is always bright
Dost thou love life, then do not squander time, for that’s the stuff life is made of
Lost time is never found again
He that riseth late, must trot all day, and shall scarce overtake his business at night
Drive thy business, let not that drive thee
Industry need not wish
He that lives upon hope will die fasting
There are no gains, without pains
Plough deep, while sluggards sleep, and you shall have corn to sell and to keep
One today is worth two tomorrows
Have you somewhat to do tomorrow, do it today
Be ashamed to catch yourself idle
Let not the sun look down and say, inglorious here he lies
He that hath a trade hath an estate
He that hath a calling hath an office of profit and honor
At the working man’s house hunger looks in, but dares not enter
For industry pays debts, while despair encreaseth them
Constant dropping wears away stones
By diligence and patience the mouse ate in two the cable
Little strokes fell great oaks
Employ thy time well if thou meanest to gain leisure
Since thou art not sure of a minute, throw not away an hour
A life of leisure and a life of laziness are two things. Do you imagine that sloth will afford you more comfort than labor?
Trouble springs from idleness, and grievous toil from needless ease.
Many without labor would live by their wits only, but they break for want of stock
Industry gives comfort, and plenty, and respect: fly pleasures, and they’ll follow you
Keep the shop, and thy shop will keep thee
If you would have your business done, go; if not, send
He that by the plough would thrive, Himself must either hold or drive.
The eye of a master will do more work than both his hands
Want of care does us more damage than want of knowledge
Not to oversee workmen is to leave them your purse open
In the affairs of this world men are saved not by faith, but by the want of it
Learning is to the studious, and riches to the careful, as well as power to the bold, and Heaven to the virtuous
If you would have a faithful servant, and one that you like, serve yourself
For want of a nail the shoe was lost; for want of a shoe the horse was lost, and for want of a horse the rider was lost

Frugality (40-78) - Prudent economy; that careful management of anything valuable which expends nothing unnecessarily, and applies what is used to a profitable purpose; thrift; — opposed to extravagance.

A man may, if he knows not how to save as he gets, keep his nose all his life to the grindstone, and die not worth a groat at last
Beware of little expenses; a small leak will sink a great ship
Buy what thou hast no need of, and before long thou shalt sell thy necessaries
A fat kitchen makes a lean will
Many estates are spent in the getting, Since women for tea forsook spinning and knitting, And men for punch forsook hewing and splitting.
Think of saving as well as of getting: the Indies have not made Spain rich, because her outgoes are greater than her incomes
Women and wine, game and deceit, Make the wealth small, and the wants great.
What maintains one vice, would bring up two children
Who dainties love, shall beggars prove
Fools make Feasts, and wise men eat them
Buy what thou hast no need of, and before long thou shalt sell thy necessaries
Wise men learn by others’ harms, fools scarcely by their own
Silks and satins, scarlet and velvets, put out the kitchen fire
A ploughman on his legs is higher than a gentleman on his knees
Always taking out of the meal-tub, and never putting in, soon comes to the bottom
When the well’s dry, they know the worth of water
If you would know the value of money, go and try to borrow some
He that goes a borrowing goes a sorrowing
Fond pride of dress, is sure a very curse; E’er fancy you consult, consult your purse.
Pride is as loud a beggar as want, and a great deal more saucy.
When you have bought one fine thing you must buy ten more, that your appearance maybe all of a piece
Tis easier to suppress the first desire than to satisfy all that follow it
Great estates may venture more, But little boats should keep near shore.
Pride that dines on vanity sups on contempt
Pride breakfasted with plenty, dined with poverty, and supped with infamy
But what madness must it be to run in debt for these superfluities!
When you run in debt; you give to another power over your liberty
The second vice is lying, the first is running in debt
Lying rides upon debt’s back
Poverty often deprives a man of all spirit and virtue: ’tis hard for an empty bag to stand upright
Creditors are a superstitious sect, great observers of set days and times
Those have a short Lent who owe money to be paid at Easter
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
For age and want, save while you may; No morning sun lasts a whole day
Gain may be temporary and uncertain, but ever while you live, expense is constant and certain
Tis easier to build two chimneys than to keep one in fuel
Rather go to bed supperless than rise in debt.
Get what you can, and what you get hold; ’Tis the stone that will turn all your lead into go