Slide Show | July 2012

Financial Advice From the Founding Fathers

Benjamin Franklin famously coined the phrase, "A penny saved is a penny earned." That's a good start. To prosper even more, consider what other founders of the United States of America had to say on the subject of personal finance.

In honor of Independence Day, we present timeless personal finance wisdom from the Founding Fathers (and a Founding Mother), echoing much of our own advice. We hope it puts you on the right path toward your financial independence.

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Financial Advice From the Founding Fathers

Slide Show

Financial Advice From the Founding Fathers

John Adams -- On the Importance of a Financial Education:

"All the perplexities, confusion and distress in America arise not from the defects of the Constitution, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation." -- From a letter to Thomas Jefferson in 1787

Sounds like something we’ve said: Eight Keys to Financial Security

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John Adams -- On the Importance of a Financial Education:

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Financial Advice From the Founding Fathers

Thomas Jefferson -- On Living Within Your Means:

"But I know nothing more important to inculcate into the minds of young people than the wisdom, the honor, and the blessed comfort of living within their income, to calculate in good time how much less pain will cost them the plainest stile of living which keeps them out of debt, than after a few years of splendor above their income, to have their property taken away for debt when they have a family growing up to maintain and provide for." -- From a letter to Martha Jefferson Randolph in 1808

Sounds like something we’ve said: 10 Tips to Build -- and Stick to -- a Better Budget

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Thomas Jefferson -- On Living Within Your Means:

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Financial Advice From the Founding Fathers

Benjamin Franklin -- On the Magic of Compounding:

"Remember that Money is of a prolific generating Nature. Money can beget Money and its Offspring can beget more, and so on. Five Shillings turn'd, is Six: Turn'd again, 'tis Seven and Three Pence; and so on 'til it becomes an Hundred Pound. The more there is of it, the more it produces every Turning, so that the Profits rise quicker and quicker." -- From "Advice to a Young Tradesman, Written by an Old One," (1748)

Sounds like something we’ve said: Behold the Miracle of Compounding

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Benjamin Franklin -- On the Magic of Compounding:

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Financial Advice From the Founding Fathers

Alexander Hamilton -- On What Constitutes a Sound Economy:

"Industry is increased; commodities are multiplied; agriculture and manufacturers flourish; and herein consists the true wealth and prosperity of a state." -- Report on Manufactures, 1790

Sounds like something we’ve said: The Bears Are Wrong About the Economy

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Alexander Hamilton -- On What Constitutes a Sound Economy:

Slide Show

Financial Advice From the Founding Fathers

Abigail Adams -- On the Importance of Education:

"Learning is not attained by chance, it must be sought for with ardor and attended to with diligence." -- Letter to John Quincy Adams, 1780

Sounds like something we’ve said: How to Pay for College on Your Own

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Abigail Adams -- On the Importance of Education:

Slide Show

Financial Advice From the Founding Fathers

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