Benjamin Franklin has a clear insight and was a reflective learner. His experiences and insights about money, saving and financial aspects to this day have remained as important lessons. here are some of the 8 finance lessons that focuses on the importance of wealth and financial security and also includes some impressive quotes from Franklin.
- Empower yourself it pays best interest
Benjamin Franklin empowered himself and became a voracious reader. He was passionate about reading and spent most of his money on books. He set aside an hour or two every day for reading and believed in studying constantly.
Tip: Empowering with knowledge and education is the best wealth.
- Be Self-Sufficient
Benjamin Franklin was not inspired by anything. It was his pleasure to see good workmen handling tools adeptly. He accepts that watching these good workmen work has been of immense use as he could handle his house trifling jobs and constructing machines for his experiments.
Tip: DIY proves self-sufficiency
- Comprehend True Value of Things
Benjamin Franklin believed paying for anything more than its actual worth is useless. This means comprehending the true value is a must to be known to each individual. Paying much for a whistle represents being too ambitious to the extent that one’s own affairs get neglected.
Tip: Comprehending true value of things offers financial security.
- Avoid Negotiating Integrity for Money
Franklin never negotiated against his consciousness and thus even refused publishing a defamatory piece in his newspaper. He once tested himself by surviving on two loaves of bread, one for supper and the other for breakfast. With this regimen he experienced no inconveniences. His determination became strong to avoid negotiating his integrity to acquire comfortable subsistence.
Tip: Following this non-negotiating integrity attitude keeps your consciousness strong.
- Have Friends Sharing Your Values
Benjamin Franklin funded his unemployed friend that was never repaid. Benjamin got work and he was diligent, but he spent a lot of his earnings at amusements and plays with his friend that he barely had to manage with hand to mouth services.
Tip: Have proper friends, real wealth.
- Being Meticulous Paves Way to Wealth
Consistent work ethics of Franklin brought him wealth, though no success overnight. He was industrious, patient and did not divert from his work to grow rich instantly.
Tip: Hard work represents true wealth and financial security.
- Time Is Money
Franklin realized that time was money as he could pursue his desires in reading and publishing. Anybody disturbing him at this time meant he lost his valuable time and money.
Tip: Time spent is never earned
- Accumulation of Money Means an End
Franklin did not chase wealth to bask in luxury. He strongly believed that accumulating money means ignoring everything of value.
Tip: Accumulating wealth takes you to an end.