Book Category: Money Management, Motivational,

The Way to Wealth (Little Books of Wisdom) (book summary)

Author: Benjamin Franklin
Life Changing Principles
8.5
Quality of Writing
9.5
Overall Value
9.0
pros: Well-written, challenging, unique piece of history
cons: None
90.0%
overall rating
9.0

Quick Summary

Franklin’s The Way to Wealth is a very short but amazingly powerful read. It’s no wonder why he is one of the greatest minds of our time.

Key Insights

  • Lost time is never found again
  • Sloth makes all things difficult, but industry makes all things easy
  • Drive thy business, let not that drive thee
  • Early to bed, and early to rise, makes a man healthy, wealthy, and wise
  • There are no gains without pains
  • Beware of little expenses; a small leak will sink a great ship
  • Extravagance is a folly soon punished
  • Think what you do when you run in debt: you give another power over your liberty
  • Rather go to bed supperless, than in debt

Practical Application

  • Watch the small expenses
  • Determine your own personal 13 Virtues and work on one each week until you achieve mastery in all of them

Meaningful Quotes

“Trusting too much to others’ care is the ruin of many; for In the affairs of this world men are saved, not by faith, but by the want of it; but a man’s own care is profitable; for, If you would have a faithful servant, and one that you like, serve yourself.”

“A little neglect may breed great mischief; For want of a nail the shoe was lost; for want of a shoe the horse was lost; and for want of a horse the rider was lost, being overtaken and slain by the enemy; all for want of a little care about a horse-shoe nail.”

“In short, the way to wealth, if you desire it, is as plain as the way to market. It depends chiefly on two words: industry and frugality. Waste neither time nor money, but make the best use of both. He that gets all he can honestly, and saves all he can, will certainly become rich.”

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