President’s Day- Financial Advice from the Guys Who Grace Your Money
The next time you pull a crumpled $5 bill out of your wallet, take a second to look at the distinguished, bearded man staring back at you.
Abraham Lincoln, along with the other famous men who appear on our money, had a lot to say about how we should use it.
You’re probably familiar with Benjamin Franklin’s famous saying, “A penny saved is a penny earned.” As we celebrate President’s Day, here are some other, lesser-known words of wisdom from our former presidents and founding fathers.
$1 bill – George Washington
“…nothing is a greater stranger to my breast, or a sin that
my soul more abhors than that black and detestable one
ingratitude.”
– letter from George Washington to Robert Dinwiddie; May 29, 1754
It’s easy to let thankfulness fall by the wayside when we’re struggling with debt. This is a great reminder to be thankful for our many blessings, even when times are tough.
Paul puts it this way: “Let the peace of Christ rule in your hearts, since as members of one body you were called to peace. And be thankful.” (Colossians 3:15, NIV).
$2 bill – Thomas Jefferson
“Never spend your money before you have it.”
– advice from Thomas Jefferson to his granddaughter, Cornelia Jefferson Randolph
It’s been more than 200 years since Thomas Jefferson was born, but his advice has never been more pertinent. Even though he never held a plastic credit card in his hand, you can bet he would have detested the now-commonplace practice of buying now and paying later.
$5 bill – Abraham Lincoln
“Leave nothing for tomorrow which can be done today.”
– notes from a lecture that Abraham Lincoln planned to deliver to future lawyers
This quote wasn’t necessarily meant to refer to personal finance, but it can certainly apply to that area. We live in a culture that strongly encourages procrastination when it comes to money. (Just watch a car commercial or an appliance ad.) Ignore the broke masses and listen to our 16th president. Make a plan today to pay off debt, save for a rainy day and invest in the future.
$10 bill – Alexander Hamilton
“I never expect to see a perfect work from imperfect man.”
– from Alexander Hamilton’s Federalist Paper No. 85
This is another quote that can apply to many aspects of life, including personal finance. The road to financial freedom is filled with speed bumps, and none of us navigates it perfectly. Have you made a mistake recently that derailed your budget? Accept it and move on. Don’t allow it to halt your progress.
$100 bill – Benjamin Franklin
“He that is of the opinion money will do everything may well be suspected of doing everything for money.”
– from Benjamin Franklin’s publication, Poor Richard’s Almanack
This concept is so important, we’re skipping over the $20 and $50 bills and going straight for the “Benjamins.” Ben Franklin’s quote reminds us that we need to control our money—not the other way around. As the book of 1 Timothy tells us, “the love of money is a root of all kinds of evil.” It’s one thing to work diligently to achieve financial freedom; it’s another to allow money to become an idol.
This President’s Day, resolve to put these quotes into action, and you should have some extra Benjamins in your pocket in no time.