There are lots of old sayings that infiltrate our everyday lives. You may not even be aware that you’re saying some! We decided to investigate the history behind some of the Beaumont team’s favourite sayings about money.
We all love to ‘bring home the bacon’, but where did the saying come from?
Mark tells us, “Like many sayings about money, this one is said to have come from a historical reference – in this case from 1111AD where an Essex woman promised any man in England the prize of a side of bacon, known as a flitch, if they could show that they had been blissfully married for the preceding year and a day. In the next 500 years, there were but 8 winners.It’s even mentioned by Geoffrey Chaucer in The Wife of Bath’s Tale and Prologue, circa 1395: “But never for us the flitch of bacon though, That some may win in Essex at Dunmow.” After the tradition was re-established in 1858, it continued every four years in Great Dunmow.
Today, of course, the saying refers to earning money out of a deal or bringing home a salary. Likewise, you’ll hope that your investments will ‘bring home the bacon’. Talk to Beaumont about how we can help you to make investment decisions that are right for you. You can email mark direct at [email protected]
Where did the term ‘cash cow’ come from?
Matt says, “the term has strong links to the history of farming, and is a metaphor for a dairy cow, which, after being bought, can be milked daily for consistent financial return. The cow can also produce an annual calf that can be sold on, kept or eaten. In the business world, we use the term to describe a company or product that makes dependable and consistent income or cash.”
It might be that you’re looking for a dependable income in your retirement, maybe alongside other investments while you’re still earning. The Beaumont team can help you to establish which products might prove to be your ‘cash cow’. Call Matt on 01691 670524 or email him, [email protected], to discuss your own financial goals.
How about ‘saving for a rainy day’?
Matt explains, “If you’ve been saving for a rainy day, you’ve been doing what others have for centuries. It’s important to put away extra money for your future in anticipation for when you may need to draw down on these resources. Whilst there are many references to this quote throughout the centuries, the earliest one can be traced back to 1561 in an Italian comedy called La Spiritata, by the Florentine playwright A. F. Grazzini. The plot follows Formosus who manages to get 3,000 crowns from his tight-fisted father Amadeus, as he is secretly wed to a woman who comes to him without a dowry.”
Another popular phrase is ‘keeping up with the Joneses’. Who were they?
Claire says, “Whilst there are several versions of the origin of the phrase, our favourite comes from Edith Wharton (born Edith Newbold Jones) who was a Pulitzer prize-winning novelist in New York in the 1920s. The Joneses were a prominent family in the city with investments in Chemical Bank, obtained through marriage, and they set about building country villas in Hudson Valley. In 1853, a 24-room gothic villa was built, spurring on more building in the neighbourhood, which created the phenomenon known as ‘keeping up with the Joneses’.”
Hopefully your own financial goals aren’t driven by ‘keeping up with the Joneses’, but with careful planning tailored to your circumstances and attitude to risk, you’re more likely to achieve your aims. Talk to the Beaumont team about keeping up the momentum in your financial plans today! Call Claire on 01691 670524 to arrange an appointment for a free Independent Financial Review with one of our advisers.
Are you ‘worth one’s salt’?
Mark recalls, “Whilst today salt might just be for seasoning chips and adding flavour to your dinner, it has played a vital and valuable role in history. Before the age of refrigeration, the only method of preserving food was with salt. Without this, groups of people were unable to migrate long distances; travelers would be unable to explore and armies would remain immobile without food. As a result, salt came to represent power.
This saying has its roots in ancient Rome, where soldiers would be given an allowance to purchase salt. The ancient Latin word ‘salarium’, refers to a soldier’s allowance, or salary, and is derived from the Latin word for salt”
Mark and the team at Beaumont Financial are certainly ‘worth their salt’ when it comes to helping clients plan their financial affairs and investments. That’s why we have a 97% client satisfaction rating on VouchedFor.co.uk and why Mark is listed in the Sunday Times Top 250 IFAs in the country. Find out why for yourself – call for a free Independent Financial Review on 01691 670524 or email [email protected]
Most people with their finger on the financial pulse are familiar with the term ‘in the red’.
Mark explains, “The origins of this saying begin in the bookkeeping industry, where it was customary to make an entry for a loss in red ink, hence why it’s now associated with a debt. The first known existence of the phrase comes from 1907, in Montgomery Rollin’s roll-off-the-tongue title ‘Money and Investments; a reference book for the use of those desiring information in the handling of money or the investment thereof.’ How catchy!
Even in this day and age of computerised accounts, it survives. If you notice on Microsoft Excel, the system will flag up debits in red. Why red though? No one really knows.”
While the value of investments may, of course, fall as well as rise, in the long term using an Independent Financial Adviser can mitigate against risk, provide objective advice and opinion to suit your own goals and approach to risk, and hopefully keep you ‘in the black’. Call Beaumont today to arrange a free Independent Financial Review with one of our trained IFAs.