#Saving May 18

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“A penny SAVED is a penny earned”

When it comes to SAVING quotes the one above is often attributed to Ben Franklin.

Scholars are pretty sure that exact quote does not belong to him. He did write something similar in his almanac called “Poor Richard’s Almanac” back in 1737. Franklin delivered the line: “A penny saved is two pence clear.” And later, in the 1758 almanac, he wrote a version closer to the saying we know: “A penny saved is a penny got.” 

One thing most agree on that Ben Franklin was a believer in SAVING. A “Life Lesson” on setting aside part of our wealth I learned from a variety of people and books. I had a business professor that used to drive home the point that income was not the key to wealth but SAVING was. He said the same was true for businesses sales was not the measuring stick it was profit.

Two books in particular have driven home the message to me about the value of SAVING. They are “The Total Money Makeover” by Dave Ramsey and “The World’s Greatest Salesman” by George Clawson. I would recommend everyone reading them.

Each author has a “Life Lesson” that has stayed with me. Ramsey is a big disciple of having a budget and Clawson talks about SAVING. Each book talks about the habits that are required to create wealth. The habits are not easy especially in the beginning because it is hard and requires delayed gratification. Creating wealth thru the use of a budget and SAVING is not a mystery. It is not luck and it is not a secret. It is a repeatable process, something anyone can — and should — learn. How to SAVE is something we should practice and teach to our children and our grandchildren.