If you’re looking to learn about finances from the past, you’ve come to the right place. There are many memorable and inspiring financial lessons from historical figures and events. Here are just a few.
King Arthur
If you’re a devoted fan of the Arthurian legend, you’ll be happy to know that there are plenty of financial lessons relating to the historical figure. Unlike many fictional characters, there is no real historical record of King Arthur, but that doesn’t mean he wasn’t a real person.
When the Roman Empire collapsed in 410 AD, the British Empire lost a great deal of territory. For some time, Britain had no central government. It was a land of kings, but not of citizens.
The Dark Ages were a period of great turmoil. Saxons and Angles from northern Europe invaded Britain, destroying everything in their path. As the Roman empire weakened, the Brits were forced to rebuild their kingdom on their own.
In fact, the Dark Ages were a time of trade, as well. While the Dark Ages are often thought of as a time of chaos, new archaeological discoveries suggest that it was also a time of great economic prosperity.
Marie Antoinette
Marie Antoinette, the last queen of France, was known for her financial habits. Her spending was estimated to have reached $2 million. She was accused of emptying the royal coffers. But despite the charges, she remained cool-headed when she faced the guillotine.
Marie Antoinette’s death was one of the most notorious scandals of her life. The French Revolution was triggered by a worsening financial crisis in the country. As a result, Louis XVI and Queen Marie Antoinette were forced to live in the royal palace.
Marie Antoinette had only a few personal belongings. Her most valuable possession was a diamond necklace that she received as a wedding present. However, she was allegedly in an affair with Duchesse de Polignac. She also traded in gemstones at a low price.
During the French Revolution, Marie Antoinette was accused of spending money on unnecessary things. It was her habit to purchase hundreds of dresses each year. In addition to her fashion collection, she also had dresses made for private parties at her “pleasure house,” the Petit Trianon.
The Great Depression
The Great Depression was the most severe economic downturn in modern history. It was a decade-long slump that shook the fabric of American society.
Many Americans felt overwhelmed and lost faith in their ability to get out of the slump. Some blamed Wall Street speculators and bankers for causing the crash. Others saw a solution in the New Deal, a package of legislation that was designed to lift the nation out of the recession.
While the New Deal did achieve its intended goal of creating jobs, it also increased the government’s role in the economy. Government investment included agricultural subsidies and unemployment insurance. In addition, new government offices were created.
As the economy deteriorated, some Americans were forced to abandon their homes. Families split up and others became homeless. During the 1930s, hundreds of thousands of families were unable to pay their mortgages.
Despite their financial woes, some families were able to retain their middle-class lifestyles. Women in particular took on more work to make ends meet.
King Solomon
If you are interested in acquiring financial advice from the Bible, then King Solomon is one of the greatest sources to follow. He is not only the richest man ever recorded, but he also had the most wisdom.
He wrote many books, including Proverbs and Ecclesiastes. His book of Proverbs contains timeless principles that you can use to make wise financial decisions.
In his book, Solomon addresses the importance of saving and how to use debt. He also discusses the dangers of overspending. It’s not enough to earn more money. You need to live within your means to avoid financial stress and anxiety.
He also advised people to enjoy the benefits of success while they are still here. He urged people to seek out counsel from those who are successful. This increases the chances of people achieving financial independence.
Despite being the wealthiest man ever, Solomon had a flaw in his character. When he was asked to give up all of his wealth, he declined.
