7 Timeless Money Sayings to Guide Your Financial Choices

Posted on Thursday, November 14, 2024

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by AMAC, D.J. Wilson

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In today’s economy of skyrocketing costs, the need to be money-wise is more important than ever! Here are seven sensible sayings about money, many of which are quite old. Despite their age, these timeless adages still apply today by providing inspiration and direction for earning, spending and saving money.

1. A penny saved is a penny earned. This phrase means that saving money is as important as earning it. It refers to the usefulness of budgeting and building funds. A similarly written saying originated in Poor Richard’s Almanac, an 18^th century informational and advice-forward pamphlet, published by Benjamin Franklin.
2. Save money for a rainy day. This idiom refers to the value of putting money aside for emergencies (gloomy rainy days). Though the origin of the expression is largely unknown, use of the phrase is traced to the mid-1500s in A.F. Grazzini’s Italian play entitled, La Spiritata.
3. Money doesn’t grow on trees. This phrase means that money is a limited resource. It infers that money is not easily acquired and must be carefully spent. The saying harkens to an expression that appeared in the Statesville Landmark newspaper in 1891. The phrase was popularized during the depression when people were forced to be frugal.
4. Remember that time is money. This idiom refers to the value of time in relation to money. It is attributed to Benjamin Franklin, who wrote those words in an essay entitled, “Advice to a Young Tradesman.” It indicates that the efficient use of time is a money-saver.
5. A fool and his money are soon parted. This says that a foolish person who spends unwisely will lose his money. It also means that people need to be wise to protect their money. The phrase originates from English literature and is attributed to poet and farmer Thomas Tusser who lived in the 16^th century.  He wrote, “A foole & his money, be soone at debate: which after with sorrow, repents him too late.”
6. Bring home the bacon. This expression has been widely known since the 12^th century. It is likely derived from a medieval contest in which a greased pig was let loose in a village square. The winner would ultimately bring home the pig as a prize. The term evolved over time and now refers to bringing home (earning) money to support oneself or the family.
7. Take care of the pennies, and the pounds will look after themselves. This phrase involves living a principled lifestyle free of squandering money. Therefore, a person who looks after small amounts of money will see it grow. The saying, often associated with the Victorian age (1837-1901), is even older. In 1747, prominent British figure Lord Chesterfield wrote to his son, “I knew, once, a very covetous, sordid fellow who used frequently to say, ‘Take care of the pence, for the pounds will take care of themselves.”

Sensible sayings on money

Knowing these timeless phrases on money and applying them to everyday use can help carry people through modern-day economic crises associated with the current economy. Since youth are likely to face financial challenges, like steep college debt paired with the high cost of living expenses and taxes, this sage advice can be heeded for the purpose of financial guidance and motivation to work hard and to spend and save wisely.   Planning for the future? 50 or older and saving for retirement? Here’s what you need to know. Check out our financial article entitled: New IRS Increase for building retirement funds.