With St. Patrick’s Day approaching, the proverbial pot of gold at the end of the rainbow might be on your mind – and given the amount of age-old financial wisdom that can stem from a few well-known Irish proverbs, perhaps there’s a thing or two to learn from the Emerald Isle about personal finance.
So before digging into a delicious plate of corned beef and cabbage this St. Paddy’s Day, mull over a few tidbits of financial wisdom with these three proverbs to start working your way toward that pot o’ gold...
- “Need teaches a plan.” – There’s something to be said for how this proverb relates to personal financial management and planning. If you find yourself in financial trouble, there’s an innate need to create a plan to escape it. Whether you’re in debt or have a problem with overspending, find out what aspects of your personal finances need to be addressed and create a plan to improve upon them.
- “If you buy what you don’t need, you might have to sell what you do.” – Need versus want. We all struggle with differentiating between the two at times – and that can lead us to make some unnecessary, and sometimes costly, purchases. When it comes to thinking about your spending habits, ask yourself, are you placing your needs above your wants? If not, reevaluate and consider a change.
- “A penny gets another penny.” – When it comes to savings, nothing rings truer than this Irish saying. The importance of building your savings is crucial, no matter what stage of life you’re currently at. Even if it’s just a small amount, stop delaying your contributions to your savings. Down the road, you’ll be happy that you did – and before you know it, those “pennies” will accrue into significant funds.
The wisdom of these and other Irish proverbs can tell you a lot about your personal finances on the journey to creating your own pot of gold, so take a moment to reflect on them. We wish you a safe – and prosperous – St. Patrick’s Day.