Full Answer Section

Aphorisms:

• “Industry pays debts, but industry cannot pay debts, nor keep them paid, without frugality.”
• “If you would be wealthy, think of saving as well as getting.”

Franklin’s thoughts on this principle are based on his belief that it is important to live below your means. He believed that you should spend less money than you earn, and that you should save the difference. He also believed that you should be frugal, which means being careful with your spending.

The two aphorisms that I have mentioned illustrate this principle. The first aphorism says that industry, or hard work, is not enough to achieve wealth. You also need to be frugal, or careful with your spending. The second aphorism says that if you want to be wealthy, you need to think about saving money as well as earning money.

Franklin’s advice is still relevant today. In order to achieve financial security, it is important to save money and live below your means. This is especially true in today’s economy, where the cost of living is rising and wages are stagnant.

If you are struggling to save money, there are a few things you can do. First, make a budget and track your spending. This will help you see where your money is going and where you can cut back. Second, set financial goals for yourself. This will give you something to work towards. Third, automate your savings. This means setting up a system where money is automatically transferred from your checking account to your savings account each month.

Saving money is not always easy, but it is essential if you want to achieve financial security. By following Franklin’s advice, you can learn to save money and live below your means.