"Time Is Money" - Benjamin Franklin
Often it is said "time is money". Many people don't know where the phrase comes from. It comes from an letter by one of the Founding Fathers of the United States, Benjamin Franklin. There is much wisdom that comes from the past. I have outlined the highlights for me here:
My Highlights (look for your own highlights after reading what Ben Franklin wrote) :
- Time is money - Time spent not working loses the money that could be earned and the money spent
- Credit is money - Interest on a loan is lost money to the borrower
- Money can create more money - Interest on savings creates more money
- Use your savings and end the ability to earn compound interest
- Small sums wasted over time add up to big sums wasted
- Be on time and truthful in business - people don't like to do business if you are late and dis-honest
- Little perceptions can have a big effect on your credibility
- Pay back loans on time and in full - keep your word with promises
- Keep track of what you owe - it helps keep you honest in business
- Have debt and you don't own the things in your possession - true ownership is debt paid in full
- The way to wealth is use industry and frugality, therefore wasting neither time or money
- Have faith in God's wisdom whether he blesses you or not with being wealthy
