Posts Tagged ‘Savings’

Living Proof

Posted: October 27, 2016 in Money Matters
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“Savings are proof that a person, or a country, has been living below their means.  Debt, on the other hand, is evidence that the world has been living above its means.” -Doug Casey

Average Debt

Posted: October 21, 2016 in Debt
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“The average American has more than $203,163 in total debt and less than $1,000 in savings…” -Mark Ford

“Debt is simply a way for you to own and control more than you can currently afford from your savings.  When you take on debt, you are agreeing to use future earnings to pay for something you want now.  In general, if it’s something consumed – like a car, clothes, or airplane tickets – all you’re doing is stealing from your future to satisfy your present desires or needs.  Eventually, it will not work.” -David Eifrig

No matter how skilled you are as an investor, upping your savings rate is more powerful to your wealth than either increasing your income or increasing your investment returns.  The best part is that it doesn’t really matter how much you make.  It only matters how much you save.  That’s the part most people don’t appreciate.” -David Eifrig

Savings Boost

Posted: November 20, 2015 in Money Matters
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“Now, there are only two real ways to boost your savings:

  1. You can either cut down on your monthly expenses…
  2. Or, two, you can boost your income.”


“Before you refinance, you need to look at your break-even point, your cash-flow needs, and the length of time you expect to stay in your house….   You have to know what your total savings will be over the life of the loan.” -Bob Irish