For £6 a year you may have the use of £100, if you are a man of known prudence and honesty.
He that spends a groat a day idly, spends idly above £6 a year; which is the price of using £100.
He that wastes idly a groats worth of his time per day, one day with another, wastes the privilege of using £100 pounds each day.
He that idly loses 5 shillings worth of time, loses 5 shillings, and might as prudently throw 5 shillings into the river.
He that loses 5 shillings not only loses that sum, but all the other advantage that might be made by turning it in dealing, which, by the time a young man becomes old, amounts to a comfortable bag of money.
Again, He that sells upon credit, asks a price for what he sells equivalent to the principal and interest of his money for the time he is like to be kept out of it; - therefore,
He that buys upon credit pays interest for what he buys,
And he that pays ready money, might let that money out to use; so that
He that possesses any thing he has bought, pays interest for the use of it.
Consider then, when you are tempted to buy any unnecessary household stuff, or any superfluous thing, whether you will be willing to pay interest, and interest upon interest for it as long as you live, and more if it grows worse by using.
Yet, in buying goods, ’t is best to pay ready money, because,
He that sells upon credit, expects to lose 5 per cent by bad debts: therefore he charges on all he sells upon credit, an advance that shall make up that deficiency.
Those who pay for what they buy upon credit, pay their share of this advance.
He that pays ready money, escapes, or may escape, that charge.
A penny saved is two pence clear. A pin a day is a groat a year. Save and have.