Funny Money Friday: Money Facts About Washington and Lincoln for President's Day

Money doesn't have to be boring! Each week, CreditBloggers.com takes a look at the lighter side of the personal finance world in a series called Funny Money Friday.

President's Day weekend is here again! It's time to celebrate the birthdays of Abraham Lincoln and George Washington. Thanks to presidential historians and researchers, we've been able to find all sorts of interesting credit and money facts related to these great leaders:

George Washington
America's first president came from a wealthy family and was land-rich, but cash-poor. His tobacco plantation often lost money, leaving Washington in debt to British businessmen. Washington had to borrow money to get to his first inauguration in New York.

Washington also played the part of the lender; granting loans to friends and employees with no interest and often not being repaid. And in politics, Washington  oversaw the development of a funded national debt and the launch of the Bank of the United States.

Washington initially refused to take the $25,000 presidential salary offered to him, but eventually accepted to ensure that the office wouldn't be only open to independently wealthy politicians in the future.

Abraham Lincoln
Lincoln's financial history is very different than Washington's. While Washington came from a wealthy family, Lincoln grew up in a very poor (and at one point basically homeless) family.

In his youth, Abraham Lincoln worked as a credit reporting correspondent collecting information on businesses for Dun & Bradstreet. Lincoln is one four presidents who worked for this pioneer in the credit industry.

Lincoln supported a national banking system that would provide affordable credit to American industry. He often served as a consumer advocate against predatory lenders and other scammers. Lincoln was also very savvy about lending money to friends and family. His letter denying an lazy step-brother an $80 loan and instead offering to match his salary is a must read.

Which president are you like? Are you more like Washington: well off but with some debt problems? Or more like Lincoln: frugal and savvy?  Either way, happy President's Day to you! We'll be back on Tuesday next week with more credit news, answers to your personal finance questions and general money geekiness!