Benjamin Franklin was born in the 18th Century and one of the founders of the United States. He possessed many skills and was a leading statesman, scientist, politician and humoristamongst others.
He was a wealthy man and many of his adages still hold relevance in the 21st century, specially related to money and debts. They have stood the test of time and can be followed today and for many more centuries to come.
Here are five of his noteworthy tips that have been suggested by Serving Joyfully –
1. Prepare for tomorrow.
It takes a few milliseconds to lost all that you have, as has been depicted time and again in the last few decades. Natural calamities, markets crashes and wars are few of such reasons. Be careful to make wise decisions so as to be able to withstand any such unwanted situation.
2. Get rid of debts.
Benjamin Franklin once said, “The second vice is lying, the first is running in debt”. He mentioned that we should make some sacrifices rather than acquiring a debt.
3. Keep a track of small expenses.
We never know when the expenses that may seem small individually but can become large in totality. Benjamin Franklin rightly mentioned, “Beware of little expenses; a small leak will sink a great ship”.
4. Don’t become money-obsessed.
Serving Joyfully correctly mentions about money being essential but it should never become your life. You can pursue money for spending it on you necessities but remember not to over-pursue it.
5. Always reward yourself after saving up to a limit.
Serving Joyfully mentions that money should be enjoyed rather than keeping in a vault. Try to enjoy more, rather than earning more. Happiness is much more important than earning a lot.
These are the few tips that have rightly been suggested by Simon Stapleton about money today.