It’s common to want to look the other way when we’re faced with dealing with our finances. It’s not a very exciting task for most people. And some people are outright scared to look at their finances, afraid they’ll discover a mess. But today I want to challenge you to dive right in there and make some progress. r
By becoming more valuable you will increase your “socially perceived value;” the value society believes you provide, for this, society will owe you a debt. What is money but a social debt, it represents the value you’ve provided thus far; what society owes you. You take that social debt (i.e. money) and then purchase whatever you desire in exchange for the debt. r
Franklin knew that knowing the right way to live is much easier than living the right way. Being industrious and frugal each and every day is a tough task, one that most people will never master. It takes an enormous amount of self-discipline and perseverance to become wealthy and successful. r
The second section of the Way to Wealth imparts the importance of frugality. It isn’t enough just to earn money, you have to be smart about what you do with it. In this collection of sayings Franklin describes how a lack of frugality will cause financial ruin and describes the temptations that lead people to spend foolishly. r
Those who want solid advice to live by would be well served to consult The Way to Wealth by Benjamin Franklin. In a few paragraphs Franklin wittily transmits the wisdom the made him a fortune and one of America’s greatest fathers. Beware: there are no secrets or short cuts, only common sense. r
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