Short Essay on ‘A Penny Saved Is a Penny Earned’

The phrase “A Penny Saved is a Penny Earned” is a well-known idiom which is quite common in English literature. To be very specific about the meaning of the phrase- it is beneficial to save money from that you have already earned as it is to gain more.

This famous idiom came from the popular Benjamin Franklin’s book, Poor Richard’s Almanack. The original meaning of the idiom signifies the importance of saving money which later proves to be beneficial to the earner. This essentially denotes how can a saved penny be an earning, and that might turn as a beneficiary to the earner.

The phrase was taken from the famous book of Benjamin Franklin’s book, Poor Richard’s Almanack, successful series of books that were compiled with enjoyable puzzles advice several witty phases of which constitute the one “A Penny Saved is a Penny Earned.” From this proverb we can formulate the proportion of saving a penny equalizes the concept of gaining a penny. This can further explain the scenario of declining to spend a penny can save that penny which shows that the individual is a penny up rather than a penny down.

The reason for the concept of “A Penny Saved is a Penny Earned” is depicted as below:

  1. It is wise to save money by putting aside a proportion of the earnings that indicates earning money.
  2. It shows a concept of budgeting money which economically balances the concept of income and savings.
  3. Saving a penny from a certain earning gradually can cumulate to a good amount thus equalizing a monthly earning.
  4. It formulates the financial balance of savings and earnings.
  5. Saving money is a beneficial fiscal act for an individual.
  6. The saved money is an earning for an individual in financial difficulties.
  7. A saved penny can be a retirement benefit which is an earning in that stage.

Thus the idiom signifies a real scenario of how a saved penny is so beneficial for an individual that equals the concept of earning the same amount of money.

By Vishakha