Conquering Overspending: Benjamin Franklin’s Approach to Controlling Spending and Curbing Impulses

Commentary Thousands of books, have been written on personal finance, financial planning, investments, debt management, and the topic of money in general. Upon reading such books, a common theme becomes obvious: Personal finance is a straightforward discipline, at least in theory. It boils down to harnessing a few principles that govern the generation of wealth: “Spend less than you earn.” “Own more than you owe.” “Quickly pay-off high-interest debt.” “Pay yourself first.” You’ve heard these principles before. Simplicity always prevails. But if these basic principles are so easy to understand, why is it that many people, Canadians and Americans alike, are having problems with their finances?...