The Way To Wealth is one of my favorite books on personal finance. I’ve pulled all of the quotes from this tiny treasure that are accredited to Poor Richard. I will do a separate article on the quotes made directly by Poor Richard.
Who Is Poor Richard
Poor Richard is a key character in The Way To Wealth. Father Abraham visits an auction. The folks preparing to spend their money ask him for his wisdom on financial matters. He willingly provides the wisdom and in the process gives credit to Poor Richard for the wisdom he has acquired.
Poor Richard’s Almanac was published annually from 1732-to 1758. Benjamin Franklin was the author but he operated under the pen name of Poor Richard and Richard Saunders.
His wisdom is undeniable. It is also applicable to us in the 21st century.
The Way To Wealth — Wisdom
Wisdom is the principal thing. It’s valuable and regrettably rare.
“A word to the wise is enough.”
“He that hath a trade, hath an estate; and he that hath a calling, hath an office of profit and honor.”
“Want of care does us more damage than want of knowledge.”
“A small leak will sink a great ship.”
“Fools make feasts, and wise men eat them.”
“It is as truly folly for the poor to ape the rich, as for the frog to swell, in order to equal the ox.”
The Way To Wealth — Sloth
Laziness is an epidemic. Hard work leads to prosperity. Laziness generates poverty.
“Sloth, like rust, consumes faster than labor wears, while the used key is always bright.”
“The sleeping fox catches no poultry, and that there will be sleeping enough in the grave.”
“Sloth makes all things difficult, but industry all easy.”
“The cat in gloves catches no mice.”
“Three removes are as bad as a fire.”
The Way To Wealth — Time
According to a great song, “Time keeps on slipping, slipping into the future.”
“If time be of all things the most precious, wasting time must be the greatest prodigality.”
“But, dost thou love life? then do not squander time, for that is the stuff life is made of.”
“Early to bed, and early to rise, makes a man healthy, wealthy, and wise.”
“One today is worth two tomorrows.”
“Never leave that till tomorrow, which you can do today.”
Poor Richard Poetry
“I never saw an oft removed tree,
Nor yet an oft removed family,
That throve so well as those that settled be.”
“He that by the plow would thrive,
Himself must either hold or drive.”
“Fond pride of dress is sure a very curse,
Ere fancy you consult, consult your purse.”
“Vessels large may venture more,
But little boats should keep near shore.”
Get what you can, and what you get hold
‘Tis the stone that will turn all your lead into gold
The Way To Wealth — Diligence
Hard work results in profit.
“God helps them that help themselves.”
“He that riseth late, must trot all day, and shall scarce overtake his business at night; while laziness travels so slowly, that poverty soon overtakes him.”
“Drive thy business, let not that drive thee.”
“Keep thy shop, and thy shop will keep thee.”
“If you would have your business done, go; if not, send.”
“The eye of the master will do more work than both his hands.”
“A plowman on his legs is higher than a gentleman on his knees.”
“Silks and satins, scarlet and velvets, put out the kitchen fire.”
The Way To Wealth — Debt
Debt is not dumb but it’s risky and in some situations dangerous. Here’s an article that I recently wrote about getting out of debt once and for all! Caveat emptor!
“Always taking out of the meal-tub, and never putting in, soon comes to the bottom.”
“When the well is dry, they know the worth of water.”
“If you would know the value of money, go and try to borrow some.”
“He that goes a borrowing goes a sorrowing.”
“The second vice is lying[30], the first is running in debt.”
“Lying rides upon Debt’s back.”
“Creditors have better memories than debtors; creditors are a superstitious sect, great observers of set days and times.”
“Rather go to bed supper-less, than rise in debt.”
Leadership
Leadership, according to John Maxwell, is influence.
“Not to oversee workmen, is to leave them your purse open.”
“It is easier to build two chimneys than to keep one in fuel.”
Pride Comes Before A Fall
Out-of-control boasting is never helpful.
“Pride is as loud a Beggar as Want, and a great deal more saucy.”
Dangerous.
“Pride that dines on vanity, sups on contempt.”
“Pride breakfasted with Plenty, dined with Poverty and supped with Infamy.”
The Conclusion
“Experience keeps a dear school, but fools will learn in no other.”
“We may give advice, but we cannot give conduct.”
“They that will not be counseled cannot be helped.”
“If you will not hear Reason, she will surely rap your knuckles.”
Thus the old gentleman ended his harangue. The people heard it, and approved the doctrine, and immediately practiced the contrary, just as if it had been a common sermon; for the auction opened, and they began to buy extravagantly.
I found the good man had thoroughly studied my Almanacks, and digested all I had dropped on those topics during the course of twenty-five years. The frequent mention he made of me must have tired anyone else; but my vanity was wonderfully delighted with it, though I was conscious that not a tenth part of the wisdom was my own, which he ascribed to me; but rather the gleanings that I had made of the sense of all ages and nations.
However, I resolved to be the better for the echo of it; and, though I had at first determined to buy stuff for a new coat, I went away, resolved to wear my old one a little longer. Reader, if thou wilt do the same, thy profit will be as great as mine.
I am, as ever, thine to serve thee,
Richard Saunders
The Last Word
If you do not have this book you should get it. It’s one that can be read in about half an hour. It should be read on a regular basis.
Enjoy and I dare you to profit!