As a gift, I was given a 1960 copy of Poor Richard’s Almanac sayings. (Thanks Trish!) You may recall that Ben Franklin as the publisher of Poor Richards Almanack. He was brilliant and his words still apply today.In his chapter titled, “How to Get Riches” is one of my favorite lines:

“The Art of getting Riches consists very much in Thrift.” (p.19)

This I find so much to be true. From my experience of working with high-end clients over the past few decades, each and every one of them has created their priorities. They do not spend frivolously or randomly. They may have a lovely home. From there they chose a few areas that are important to them. So, whether it be travel, clothes, education, where their money goes, they are content rather than looking to spend more.

Spending just for the sake of spending is not in their repertoire. They are thoughtful when making decisions about their money. I find that these conscious souls know how to share with others while taking care of themselves. Self-care never means going “overboard” as some people insist with their money.

In contrast, some of the folks striving to get ahead do not prioritize in the same way. Here is what I hear from the “average” person:

· I just got a raise; I might as well splurge on dinner.

· As I am going on the trip anyway, I might as well spend the money.

· Another hundred dollars won’t matter.

These sentiments are not in line with “The Art of Riches consists very much in Thrift.”

Consider where you are thrifty and where you are making conscious spending decisions. Then, from that point of clarity, build on good decision making for the rest of your financial life. Ben Franklin would be very proud of you as build riches through Thrift.

To stay on your path to thrift, sign up for the MoneyPeace Monthly newsletter:

We would love to have you subscribe. MoneyPeace Newsletter — MoneyPeace