Posts Tagged ‘saving’

“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

“Only about a third of workers are saving in a 401(k) or similar tax-deferred retirement plan. Also, the gap is far wider than expected between the number of employers offering retirement plans, and the number of workers saving in them.” -Bloomberg on Census Bureau findings

“An individual doesn’t enrich himself by borrowing capital.  He can only enrich himself by carefully increasing his utility (his skills), saving his excess production, and investing that capital wisely to further increase his production.” –Porter Stansberry

“No human being has ever become wealthier by spending.  Not a single empirical example.  And no society has ever raised itself out of poverty, except by carefully saving.” -Porter Stansberry

Until you’ve mastered the discipline of saving money, you have no realistic chance of developing the discipline to manage capital.” -Porter Stansberry

“Politicians all over the world are predicting that banks will charge depositors (you) money for storing cash in negative interest rate currencies.  It’s a perversion of saving.  It’s a perversion of capitalism.  It’s a perversion of planning for the future.” -Brian Hunt

Best Spending

Posted: June 8, 2015 in Money Matters
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“Saving is just spending a little less than you take in…. The best part is that it really doesn’t matter how much you make. It only matters how much you save.” -David Eifrig

Freak Economy

Posted: April 19, 2015 in Economics
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“Capital – what you get from saving money and investing it wisely – is an economy’s real muscle. EZ credit – what the quacks pump into flabby tissue to try to make things look more fetching – is what has turned the economy into such a freak.” -Bill Bonner

Saving… is deferred consumption.” -Gregory Bresiger

“Saving, ultimately, is consumption.  By setting aside some resources for meeting financial consumption needs, we invest them.” –Detlev S. Schlichter

The private reserve strategy initially provides a build up in savings, but it also produces a higher ability to consume.  By delaying consumption, one not only builds a base of capital for purchases, but saves interest payments to an outside source.  This savings is additional capital to use for various purposes.