Last updated on November 23, 2014
Benjamin Franklin learned one of his first, and most important, personal finance lessons as a boy and he shared his wisdom about the true value of things later on in a letter to Madame Brillon.
Benjamin Franklin (1706–1790)
When I was a child of seven years old, my friends, on a holiday, filled my pocket with coppers. I went directly to a shop where they sold toys for children; and being charmed with the sound of a whistle, that I met by the way in the hands of another boy, I voluntarily offered and gave all my money for one. I then came home, and went whistling all over the house, much pleased with my whistle, but disturbing all the family. My brothers, and sisters, and cousins, understanding the bargain I had made, told me I had given four times as much for it as it was worth; put me in mind what good things I might have bought with the rest of the money; and laughed at me so much for my folly, that I cried with vexation; and the reflection gave me more chagrin than the whistle gave me pleasure.
This, however, was afterwards of use to me, the impression continuing on my mind; so that often, when I was tempted to buy some unnecessary thing, I said to myself, Don’t give too much for the whistle; and I saved my money.
As I grew up, came into the world, and observed the actions of men, I thought I met with many, very many, who gave too much for the whistle.
When I saw one too ambitious of court favor, sacrificing his time in attendance on levees, his repose, his liberty, his virtue, and perhaps his friends, to attain it, I have said to myself, This man gives too much for his whistle.
When I saw another fond of popularity, constantly employing himself in political bustles, neglecting his own affairs, and ruining them by that neglect, He pays, indeed, said I, too much for his whistle.
If I knew a miser, who gave up every kind of comfortable living, all the pleasure of doing good to others, all the esteem of his fellow-citizens, and the joys of benevolent friendship, for the sake of accumulating wealth, Poor man, said I, you pay too much for your whistle.
When I met with a man of pleasure, sacrificing every laudable improvement of the mind, or of his fortune, to mere corporeal sensations, and ruining his health in their pursuit, Mistaken man, said I, you are providing pain for yourself, instead of pleasure; you give too much for your whistle.
If I see one fond of appearance, or fine clothes, fine houses, fine furniture, fine equipages, all above his fortune, for which he contracts debts, and ends his career in a prison, Alas! say I, he has paid dear, very dear, for his whistle.
When I see a beautiful sweet-tempered girl married to an ill-natured brute of a husband, What a pity, say I, that she should pay so much for a whistle!
In short, I conceive that great part of the miseries of mankind are brought upon them by the false estimates they have made of the value of things, and by their giving too much for their whistles.
Yet I ought to have charity for these unhappy people, when I consider that, with all this wisdom of which I am boasting, there are certain things in the world so tempting, for example, the apples of King John, which happily are not to be bought; for if they were put to sale by auction, I might very easily be led to ruin myself in the purchase, and find that I had once more given too much for the whistle.
Adieu, my dear friend, and believe me ever yours very sincerely and with unalterable affection.
I have to admit, that one will find a few overpriced whistles in our house. Some things were worth it, others weren’t! With age I thought more about the true value of things and learned to say “No” when needed. I am at a point in my life, were I can say that I feel very balanced.
Giving up smoking has a lot to do with my balance. A while back I sat down and estimated how much I must have spent on cigarettes in 35 years of smoking. It was an eye-opener! Let’s say I smoked a house 🙂
But, it’s not just the money. I will wonder for years to come about the damage, that I might have done to myself. Will I pay the smokers price one day?
Yes, I spent too much on this whistle (way too much)…BUT it’s never too late…I stopped smoking and so can you!
Be First to Comment