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Wealth Virtues Journal: November 3, 2009

Achieving Wealth Through the Practice of Resolution

Filed under: Franklin's Virtues: A Way to Wealth — Tags: , , — James Ward @ 5:07 pm
© 2009 Poor Richard Web Press, LLC

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The 13 Virtues of Benjamin Franklin are:

  1. TEMPERANCE: Eat not to dullness, drink not to Elevation
  2. SILENCE: Speak not but what may benefit others or yourself; avoid trifling conversation
  3. ORDER: Let all your things have their places; let each part of your business have it’s time
  4. RESOLUTION: Resolve to perform what you ought; perform without fail what you resolve
  5. FRUGALITY: Make no expense but to do good to others or yourself; i.e., waste nothing
  6. INDUSTRY: Lose no time; be always employ’d in something useful; cut off all unnecessary actions
  7. SINCERITY: Use no hurtful deceit; think innocently and justly; and, if you speak, speak accordingly
  8. JUSTICE: Wrong none by doing injuries, or omitting the benefits that are your duty
  9. MODERATION: Avoid extremes; forebear resenting injuries so much as you think they deserve
  10. CLEANLINESS: Tolerate no uncleanliness in body, clothes, or habitation
  11. TRANQUILITY: Be not disturbed at trifles, or at accidents common or unavoidable
  12. CHASTITY: Rarely use venery but for health or offspring, never to dullness, weakness, or the injury of your own or another’s peace or reputation
  13. HUMILITY: Imitate Jesus and Socrates

To look deeper on how these Virtues can help you to create wealth, we take a look at the virtue of Resolution.

Resolution has many meanings, especially in terms of math, music, technology, and science – all of them related to a conclusion with clarity. Franklin’s meaning was to show firmness of purpose or intent, and the determination to follow a course of action to a successful outcome. He states, “Resolution, once become habitual, would keep me firm in my endeavors to obtain all the subsequent virtues.”

Resolution is a vital part of setting and maintaining your goals. Resolution plays a big part of how you plan and act. You will need to anticipate difficulties and determine what you will do and not do before facing a challenge. Self-confidence is key to overcoming obstacles. Do not believe others who say you cannot accomplish what you set out to do. History is replete with people who failed because they listened to people with less vision. Examine your goals every day – write them out if necessary to reinforce your resolve. You also need to stay flexible. If circumstances occur that are not in your control, or your first plan does not work, keep site of the final goal and make necessary changes. You should also find ways of keeping yourself motivated, whether it is by small indulgences or rewards, or some other act, as long as they do not conflict with your ability to adequately pay your debts AND increase your savings.

When you look at yourself in the day-to-day performance of your job, are you “performing what you ought”? Are you providing what is required of you to the best of your capabilities? This question applies whether you are the employee or the employer.

Resolution helps us to see past false impossibilities and establish a series of goals, and to conduct ourselves in a manner to achieve what we seek to accomplish.

Begin to Use Resolution in Improving Wealth

  • Create a list of your financial goals as well as your personal goals.
  • Ensure that your list includes timelines and benchmarks (intermediate goals) to help you toward successful accomplishment.
  • Ensure that you remain focused on your current source of income but continue to plan new ways to improve that income.

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