The Templeton Plan: Step 12

The Templeton Plan is written for those who consider themselves students in the school of total success. It is suggested that you devote yourself to one step each day, over a period of three weeks, Each step should be studied carefully until the following questions can be answered in a satisfactory and thorough manner:

1. What do these ideas really mean?
2. How do they apply to my own life?
3. How can I use their meaning in achieving success? 

Step 12: Conserving Your Resources To Best Advantages

• Thrift, the quality of using money and other resources carefully and not wastefully, is the key point that John Templeton is trying to implement. Through thriftiness and patience, we can wait for the right opportunity or deal to shine through. By having patience we learn what it means to be thrifty.
• To start being thrifty we must save towards that which is important. 

Questions to ask yourself:

1. Do you save something of every paycheck?
2. Do you make a budget?
3. Do you live within your budget?
4. Do you search for bargains in small items, such as toothpaste and soap, as well as large items like automobiles and furniture?
5. Do you weigh each purchase carefully rather than buy on impulse?