5 famous finance quotes and how to apply them

first_img“Old men are always advising young men to save money. That is bad advice. Don’t save every nickel. Invest in yourself. I never saved a dollar until I was forty years old.”-Henry FordThe father of American automobiles knows a thing or two about how to be successful. Many agree that investing in yourself is the best investment you can make. Higher education, certifications or seeking out experience are some good examples. I assume that you don’t own a global, industry leading company though, so I wouldn’t forego the saving.“The four most expensive words in the English language are, ‘This time it’s different.’”-Sir John TempletonSir Templeton made his living as a financial investor. He was a pioneer of modern money making who seemed to adapt Einstein’s definition of insanity to finance. His message here is not just applicable to stocks, but also habits after recovering from debt, bad credit and even bankruptcy. Never do the same things with your money when in the past those result have been less than desirable.“A penny here, and a dollar there, placed at interest, goes on accumulating, and in this way the desired result is attained. It requires some training, perhaps, to accomplish this economy, but when once used to it, you will find there is more satisfaction in rational saving than in irrational spending.”-P. T. BarnumA business man, politician, author and one of the founders of the Barnum and Bailey Circus company, Phineas Taylor Barnum had a lot to say on money. Note that he also is quoted saying “there’s a sucker born every minute.” While his way of acquiring money may have been less than inspirational, no one can deny he knew how to save it. While getting yourself from the spending to saving mindset may be difficult, once you do it gets easier.“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.”-Will SmithThe Fresh Prince himself provides an unfortunate social commentary on a large portion of our society. Never sacrifice your financial well-being to keep up with the Joneses. Buy things for youself, not for anyone else.Foul cankering rust the hidden treasure frets,
But gold that’s put to use more gold begets.-William ShakespeareI was a thespian in high school and for the most part loathed Shakespeare, but there were a few lines that have stuck with me. This line from Venus and Adonis is pretty powerful. Let me ‘translate’ it from Shakespearian for you. If you are to hold onto your money it will just rot away, of course gold doesn’t rust, but treasure that isn’t used is wasted. If you invest or lend it however, you will get a return. 96SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Tyler Atwell Web: www.cuinsight.com Detailslast_img read more