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Frugal advice from Dr. Franklin. September 29, 2008

Posted by ourfriendben in Ben Franklin, wit and wisdom.
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It’s me, Richard Saunders of Poor Richard’s Almanac fame, here today to help you hold off financial disaster with some useful tips from that font of frugality, our hero and mentor, Ben Franklin. With the current economic crisis and the specter of the Great Depression on everybody’s minds, there couldn’t be a better time to turn to old Ben for some words of wisdom.

Of course, to make it more fun, I’ve included one quote that’s not by Dr. Franklin. Can you guess which one it is? I’ll give you the answer at the end. But no cheating, now! Here we go:

“Necessity never made a good bargain.”

“No gains without pains.”

“If you know how to spend less than you get, you have the philosopher’s stone.”

“He that is rich need not live sparingly, and he that can live sparingly need not be rich.”

“Creditors have better memories than debtors.”

“Buy what thou hast no need of, and e’er long thou shalt sell thy necessaries.”

“Keep thy shop, and thy shop will keep thee.”

“Beware of little expenses: a small leak will sink a great ship.”

“The way to be safe, is never to be secure.”

“He that can have patience can have what he will.”

Spare and have is better than spend and crave.” 

“Many have been ruin’d by buying good pennyworths.”

“If you’d know the value of money, go and borrow some.”

“He that can travel well afoot, keeps a good horse.”

“Haste makes waste.”

“Look before, or you’ll find yourself behind.”

“Rather go to bed supperless than run in debt for a breakfast.”

“All things are cheap to the saving, dear to the wasteful.”

“A penny saved is two pence clear. A pin a day is a groat a year. Save and have.”

“Idleness is the greatest prodigality.”

“The most important thing to do if you find yourself in a hole is to stop digging.”

“For Age and Want save while you may; No morning Sun lasts a whole Day.” 

“Pay what you owe, and what you’re worth you’ll know.”

“Forewarn’d, forearm’d.”

“Every little makes a mickle.”

“He that waits upon fortune, is never sure of a dinner.”

And last but not least, a timely reminder:

“The use of money is all the advantage there is in having money.”

 

Did you guess which quote wasn’t old Ben’s? If you picked “The most important thing to do if you find yourself in a hole is to stop digging,” you guessed right. That one’s from the modern master of money-related sayings, Warren Buffett, and it means you should stop throwing good money after bad.

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Comments»

1. nancybond - September 29, 2008

Picked the wrong one. :) Great list of quotes!

Thanks, Nancy! I think I’d have picked the wrong one, too.

2. linda - September 29, 2008

excellent quotes, still valuable today.

True enough, Linda! Just wish we’d paid more attention to them!!!

3. Alan - September 29, 2008

Think someone must have forwarded your list to King George. Looks like the House told him and his CEO handlers to stuff it. Interesting.

Wow!!! News I never thought to hear!


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