“Lost time is never found again.” Rather than money being the most important resource one can conserve and use wisely, it is actually how we budget our time that makes the biggest difference. After all, more money can always be made, but time is lost forever and there is no way to get more. “Laziness makes all things difficult, but labor makes all things easy.” State of mind is the most significant factor in whether we succeed or fail. A person who is unmotivated will struggle with anything they do, but a person who is motivated and laborious will be able to achieve goals with comparative relief. “Drive your business, not let business drive you”. A work-life balance is the most important thing and that while it is key to be industrious in one’s profession, it is equally important to not let it define a person and defeat all other elements of their life, such as family. “Early to bed, and early to rise, makes a man healthy, wealthy, and wise.” The way a person budgets their day is key to their success. Early morning hours are the most productive, and that an early rest each night ensures that they can be fully taken advantage of. “There are no gains without pains.” In this early version of the famous “no pain, no gain” motivator, Franklin makes the case that anything worth having comes with difficulty and that it is necessary to push past that discomfort to achieve the end goal.
“Beware of little expenses; a small leak will sink a great ship,”One of the biggest setbacks to long-term financial success can be small, day-to-day expenses that are paid for mindlessly.
Unnecessary luxury goods are the temptation that distracts from long-term financial health.
“Think what you do when you run in debt: you give another power over your liberty.” Debt as a sort of prison, which must be avoided when possible. Temporary discomfort is worth the exchange for long-term financial security.
Keep a careful eye on spending, to ensure that you are making the most of your money and your time, and to avoid debt whenever possible. Avoid credit card. It is the big the gest cause of debt makes mindset to spend more than you earn.