a penny saved is a penny earned

A

a penny saved is a penny earned
also, a penny saved is a penny gained
(idiom)

Meaning

• savings prove to be just as valuable as earning money.
• saving money is as important as earning it.
• not spending money effectively increases one’s financial resources.
• conserving resources has the same impact as generating income.
• used to advise people to be careful with their money and save it.

Example Sentences

1. She cut back on her daily coffee purchases, adhering to the principle that a penny saved is a penny earned.
2. By using coupons and looking for sales, they follow the adage that a penny saved is a penny earned.
3. He reminds his children that a penny saved is a penny earned, teaching them to appreciate the importance of saving money.
4. He tries to do all the work himself and always says that a penny saved is a penny earned.
5. Because she is a financial consultant, she always advises people to save money. She frequently tells her clients that a penny saved is a penny earned.

Origin and History

The earliest versions of this phrase date back to the 17th century. George Herbert’s “Outlandish Proverbs” (published in 1640) included a similar phrase, “a penny spar’d is twice got.” This version highlights the idea that money saved is doubly beneficial. Later, Thomas Fuller’s “The History of the Worthies of England” (1661) featured the phrase “a penny saved is a penny gained.”

Over time, the phrase evolved from “a penny saved is a penny got” to “a penny saved is a penny gained.” By the late 17th century, Edward Ravenscroft’s “Canterbury Guests” (1695) used the phrase “a penny sav’d, is a penny got.” This evolution underscores the practical wisdom that saving money is as valuable as earning it.

Benjamin Franklin’s Influence

Benjamin Franklin (1706–1791) was one of the most prominent Founding Fathers of the United States, known for his contributions as a statesman, diplomat, scientist, inventor, and author.

Although often attributed to Benjamin Franklin, the exact phrase “a penny saved is a penny earned” does not appear in his works. Franklin did use similar expressions, such as “a penny saved is two pence clear” in “Poor Richard’s Almanack” (1737), which contributed to his association with the idiom. Additionally, around 1863, the USA issued a cent token featuring Franklin’s image, further solidifying this attribution.

By the 19th century, the phrase had become popular in its current form. Its association with Franklin and appearance on the currency helped solidify its place in American culture. The phrase gained widespread acceptance and continues to promote financial prudence today.

Over the centuries, the idiom has evolved from various forms, emphasizing the importance of saving money. While Benjamin Franklin’s connection to the phrase helped popularize it, its roots extend back to early English proverbs promoting thriftiness.

Business, Money