- Debt is a form of indentured servitude where people agree to sacrifice a portion of their future earnings in exchange for instant gratification.
- ATM machines are the Achilles’ heel of impulsive spenders.
- History tells us that all fiat money eventually returns to its intrinsic value: zero. The US dollar is fiat money.
- Given a choice, it’s always better to live your life anonymously rich, rather than deceptively poor.
- If you have to ask your boss for a raise, then you need to find a new employer.
- When in doubt, always choose credit over debit.
- It’s almost impossible to effectively manage your personal finances if you don’t track your income and outgo.
- Only suckers play the lottery.
- People who properly manage their finances don’t fear credit cards. In fact, they embrace them.
- Credit card “convenience” checks are anything but.
- Frugality has its limits. The most effective way to stretch your income is by finding ways to earn more money.
- Treat your household like a business; actively manage your finances and continuously look for ways to maximize your income.
- Not everyone requires a budget to effectively manage their personal finances.
- When it comes to saving money, patience is a virtue.
- Nobody should pursue a non-technical college degree until they’ve calculated their projected payoff point and return on investment.
- Precious metals such as gold and silver are for insuring wealth; not investing.
- Money does not buy happiness. If you’re looking for nirvana, you need to focus on attaining financial freedom.
- Only fools and the financially naive believe that everyone who drives an expensive luxury car is financially well-off.
- Only fools and the financially naive believe that everyone who drives a beater is broke.
- No matter how nice your financial adviser is, nobody will ever care about your retirement nest egg and investments more than you.
- When it comes to managing personal finances, those who fail to plan are planning to fail.
- Keeping up with the Joneses is a fools’ errand. Besides, the Joneses are broke.
- Personal finance management is not rocket science.
- Achieving financial freedom becomes extremely difficult if life’s major milestones aren’t accomplished in this order: 1) education, 2) career, 3) marriage, 4) kids.
- Buy low, sell high, and have an exit strategy for every investment.
- It’s sometimes better to rent a home than own one.
- People who believe in personal responsibility, and strive to be self-reliant, control their own destiny.
- A spreadsheet can help even the most disorganized person successfully manage her personal finances.
- It’s more important to save for your retirement than your kids’ college education.
- Americans under 50 who are counting on Social Security to provide for them in retirement will be working until the day they die.
- If you can’t live on $50,000 per year, it’s your own fault.
- Failing to save and being financially dependent on friends, family or the government severely limits one’s choices in life.
- You can achieve financial freedom regardless of how much money you make.
- He who dies with the most toys, doesn’t win.
- Actions have consequences, which is why it’s important to always spend less than you earn.
- You can be financially successful without a college degree; and a college degree does not guarantee financial success.
- Sometimes it makes sense to splurge, especially when it comes to vacations.
- The harder you work, the luckier you’ll be.
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