Posts Tagged ‘spending’

“People spend on big items…. And then they try to save by not going to Starbucks.  Don’t let the myths of society rule your spending.” -James Altucher

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“Tom and Kate know they have a serious debt problem…

They spend their lives in a constant state of stress – trying to figure out ways to juggle their debt. They consistently live beyond their means. The only thing that limits their spending is the limit on their credit cards.

Tom and Kate are in the top 15% of U.S. households, bringing home a combined $160,000 per year. Yet like many people, they’re deeply in debt… spending everything they make and borrowing even more.”

-Bill McGilton

“You can almost always get a little boost by spending money you don’t have. But unless you’re investing in something that will make a profit, you’re just wasting time and money… and making the situation worse.” -Bill Bonner

“Even if you buy a car with cash, you are forfeiting the opportunity of investing that cash and earning a return on it. So even people who always ‘pay cash’ still experience the same implicit trade-offs between spending now versus later…the real question is whether you are going to obtain your financing from a bank controlled by outsiders, versus a bank that you control.” -Robert Murphy

Wealth Step

Posted: March 10, 2017 in Money Matters
Tags: , , , , , ,

“The first step to building wealth is not to increase your income.  The first step is to curb your spending.” –David Eifrig

“You need more than a high income to be wealthy.  It’s amazing how many people, young and old, don’t understand this.  Too many folks equate making ‘mucho dinero’ with being rich….  A big income can give you a great lifestyle. But if you’re spending it as fast as you’re making it, when you stop working, or when a financial emergency arises, you’ll very quickly find out how un-rich you really are.  If you want to become wealthy—in terms of having lots of money put away for a rainy day or money to spend after you stop working for it—you are going to have to learn how to save and invest a significant portion of your income.” -Mark Ford

“Wealth is a store of something valuable, something you can use or enjoy later.  Financial wealth, therefore, is the money you have put aside for spending in the future.  I call this your ‘net investable wealth’.” -Mark Ford