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4 Personal Finance Lessons From Former Presidents

February 15, 2016 Leave a Comment

On Presidents’ Day this year, we can apply the wisdom from former American leaders to our financial lives. Here are 4 personal finance lessons from former Presidents posted on Credit Union Insight:

  1. George Washington said: “To contract new debts is not the way to pay old ones.” What we can learn from Washington’s wisdom: Refrain from frivolous spending until your personal finances are on solid ground.
  2. Thomas Jefferson inherited a significant amount of debt from his father-in-law, and despite his best efforts, his personal debt affected his legacy. What we can learn from Jefferson’s wisdom: No matter your income, never underestimate the value of living within your means.
  3. Abraham Lincoln often consulted with his advisers when making key decisions. What we can learn from Lincoln’s wisdom: There are many benefits to reaching out to others for financial advice, whether it’s consulting a professional or a loved one.
  4. Dwight Eisenhower once said: “The older I get, the more wisdom I find in the ancient rule of taking first things first.” What we can learn from Eisenhower’s wisdom: Organizing your finances is not always easy but if you accomplish things in manageable amounts, you can reach your financial goals.

(cuinsight.com)

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