Ben Franklin

In The Way to Wealth

It is said the eccentric and gifted John Randolph once jumped up from his seat in Congress and exclaimed: "Mr. Speaker, I have found the philosopher's stone: it is this, pay as you go."

This is one of the first great lessons in domestic economy, which every one, but especially every laboring man, should learn, that is, to live within his 'income—the farther within the better—and to adopt and practice the -rule, " pay as you go."

Adopt this system and " hard times" will not trouble you. Such times, if they come, may be the easiest, for they always depress the market, and make provisions and merchandise cheaper.

Keep to your business, and your business will keep you. Perseverance will remove mountains. Don't mind a dark day. However thick and dark the clouds, there is light above them. Look up and persevere.

Buy nothing useless. Never get in debt as long as you can work. Spend all your money if in want, then wait a week before trying your credit. When yon have earned a dollar, always lay by a quarter or a half.

Keep an account of every day's wages, of every idle day, and of every expenditure.

Read the rest of the story here: Book Link

Ben Franklin, The Way to Wealth, 1758