Archive for the ‘Money Matters’ Category

Wealth Control

Posted: June 16, 2017 in Money Matters
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“You must take personal control of your wealth… The best part is that it doesn’t really matter how much you make. It only matters how much you save…” –David Eifrig

“In the United States neither paper currency nor deposits have value as commodities.  Intrinsically, a dollar bill is just a piece of paper….  What, then, makes these instruments…acceptable at face value in payment of all debts and for other monetary uses?  Mainly, it is the confidence people have that they will be able to exchange such money for other financial assets and for real goods and services whenever they choose to do so.  Money, like anything else, derives its value from its scarcity in relation to its usefulness….  Money’s usefulness is its unique ability to command other goods and services and to permit a holder to be constantly ready to do so.” -Federal Reserve Bank of Chicago

“When you borrow money two things usually happen.  First, you’re taking capital that others saved in the past, and are probably using for consumption, not to create more wealth.  And second, you’re mortgaging your future, which makes you a serf when you have to pay it back.” -Doug Casey

“The key to saving isn’t about raising your income.  It’s not about saving a penny here and a penny there.  It’s about understanding yourself better and shaking all the frivolous desires from your mind.” –David Eifrig

“But many people do the exact opposite of saving.  They don’t just spend the money they have, they spend money they don’t have in pursuit of some unachievable happiness.” –David Eifrig

Future Income

Posted: March 11, 2017 in Money Matters
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“Money saved generates future income.  Income is what sets you free.  And freedom is what truly makes us happy.” –David Eifrig

Wealth Step

Posted: March 10, 2017 in Money Matters
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“The first step to building wealth is not to increase your income.  The first step is to curb your spending.” –David Eifrig