Here’s my quarterly quotes about money and finance. Initially, I was planning to get quotes related to money, environment and finance in celebration of Earth Day (April 22) or quotes by women about money and finance in celebration of International Women’s Day (March 8). However, I had a list already on hand which I really don’t want to change. I might do some theme quotes in the future but bear with me right now with what I want to share with you.
Henry Ford: “Don’t find fault, find a remedy.”
People always have long memories especially when someone wronged them. However, when someone do good to others, they have selective memory. At work, if you want to shine, better have a solution on hand whenever you bring a problem to your boss. With money, if something doesn’t work, don’t do it again, better find a remedy so that you won’t lose more money.
Chris Rock: “Wealth is not about having a lot of money, it’s about having a lot of options.”
I can’t agree more. When I wrote about Billionaire Fever last January, I mentioned I don’t want to be a billionaire. I will be content with winning a million every now and then. The reason is I don’t know what I will do with a billion. A billion might give me a lot of options but sometimes these options can be bad for you.
Benjamin Franklin: “An investment in knowledge pays the best interest.”
In the Philippines, a lot of parents tell their children that the only thing that they can give their children is their education. Education is important as it gives you options in life. It gives you direction which will lead to your passion.
Lao-Tzu: “A journey of thousand miles begins with a single step.”
It may not sound like a quote for money and finance but everything in life starts with a single step. If you don’t take that step, you would never go anywhere. If you don’t start saving, there’s nothing to spend during rainy days. If you don’t start you’re IRA, then you won’t have anything for retirement. Don’t be afraid and take that step.
George Burns: “Don’t stay in bed unless you can make money in bed.”
Are you an early bird or a night owl? I’m a night owl. I wish I was able to maintain the sleep habit I had when I was sick but alas, it wasn’t meant to be. I know I really should as they say, “early to bed, early to rise makes a man healthy, wealthy and wise”.
Emily Dickinson: “Fortune befriends the bold.”
When you invest, you usually need to answer a questionnaire asking you about your risk level. I’m a 50/50 investor. I hate to go all out and I also hate not to take any risk at all. They usually tell me to invest in balanced funds where half will be invested in stocks and the other half will be invested in bonds. If I go all out, I usually tell myself that they’re money that I’m willing to lose.
Will Rogers: “Too many people spend money they earned.. to buy things they don’t want.. too impress people that they don’t like.”
It’s like the idiom “Keeping up with the Joneses”. Be like Marie Kondo and live simply. Also, try to differentiate want and need. You don’t have to be like your neighbors. Be yourself. Who knows, they might be impressed with you rather you impressed with them.
Warren Buffett: “The stock market is designed to transfer money from the Active to the Patient.
From the Active to the Patient? Hmm.. I’m not known to be a patient person. That’s why I have a portion of my money that I like to buy and sell like a day trader. However, I sometimes just invest and leave it for quite some time. Some people are successful as day traders. Some use the dollar cost averaging method. Whatever your method is, stock market is a high risk investment. Just remember that if you’re losing your money, your losing money in paper. As Newton’s third law of motion states, “what goes up must come down”.
George Washington “To contract new debts is not the way to pay old ones.”
Ohhh… that is so true. If you use one credit card to pay another credit card, you’re just in a vicious cycle which won’t help your credit score as well as getting off out of debt. If you’re in debt, try to talk to the companies you owe them if you can do a payment plan. Afterwards, do the snowball method and pay them off one by one.
Winston Churchill: “We make a living by what we get. We make a life by what we give.”
Whether you give money, time or your knowledge, sharing what you have with others not only helps the ones you give it to but also makes you feel good. I remember when I was teaching English in China, I realize why teachers are teachers, they are fulfilled when they see their students learn and become successful in life. Don’t just accept and accept, GIVE.