This post is by our regular Wednesday contributor, Erin.
Who doesn’t love a good quote?
I know I do. It feels great when a quote resonates so much with you, you can’t help but smile and nod along.
There’s a reason quotes are so powerful. People love to adopt mantras and live by them.
Well, financial quotes are no different. Often times, the way something is phrased can completely change your view on a subject. I know that’s happened to me plenty of times. Something somewhere just clicks.
Let’s take a look at 5 different financial quotes I think we could all learn a little something from.
“Opportunity is missed by most people because it is dressed in overalls and looks like work.”
– Thomas Edison
Can you all guess what Thomas Edison is alluding to here? Side hustling, of course! Okay, so maybe that exact term wasn’t around back then, but the premise is the same. Put in the hard work, and reap the rewards.
Some people aren’t for side hustling because they value their time more. That’s fine (especially if they’re not hurting for money). However, as young adults, most of us could probably use a little income boost now and then.
Unfortunately, some people can’t see past the (temporary) sacrifices that need to be made. They would much rather get home and relax than go to work on something, even if that something is meaningful and more enjoyable than their 9-5.
Well, those people are missing out on a huge opportunity to increase both their income and their knowledge.
Say I gave up on blogging 6 months after starting. Where would I be today? Certainly not writing here. I wouldn’t have any business to speak of. Heck, I hadn’t even heard of side hustling until I started blogging!
So many opportunities were presented to me simply because I kept blogging, kept growing my readership, and kept making connections within the community. Yes, blogging (and side hustling) is hard work, but hard work tends to pay off.
“An investment in knowledge pays the best interest.”
– Benjamin Franklin
I absolutely love this little gem by Benjamin Franklin because it’s so true. Knowledge has far more value than we consciously assign to it.
Sometimes, I wonder how I would have ended up had I not learned from an early age that consumer debt was bad. It astounds me how some people lack basic money management knowledge.
When you take the time to learn, you’re making an investment in yourself and your future. It’s as simple as that. And reading personal finance blogs totally counts! I’ve learned so many things by reading about what others have experienced.
Always seek to learn something new. Don’t let fear hold you back. Especially when it comes to something like investing.
The stock market can seem overwhelming, but everything can be broken down into smaller pieces that are easier to understand. Take the time to educate yourself.
“Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are.”
– James W. Frick
There’s another quote out there similar to this one about budgets by Joe Biden, but I like priorities better. And this is so true. When you spend your money on something, you’re making it a priority. You need to make sure it’s actually a priority for you.
It kills me to see people throwing random items into their cart when I’m out shopping. I can tell they haven’t put any thought into what they’re buying. That’s dangerous – in some cases, it can lead to debt.
If you’re not evaluating your spending, you’re probably not going to achieve your financial goals. You need to have a pulse on your accounts and your expenses.
That’s why it’s super important to make a list of your priorities and put them in your spending plan. Take everything else out. You’ll feel a lot better when your money is going toward what truly matters to you.
“Too many people spend money they earned…to buy things they don’t want…to impress people that they don’t like.”
– Will Rogers
When I first read this one months ago, it was one of those quotes that made me go, “YES!” Of course, this is referencing the whole keeping up with the Joneses lifestyle.
How many times have you been guilty of buying something to fit in? Whether it’s clothing, a gadget, a car, or even lunch at work, we face a lot of pressure to keep up appearances.
But it’s a lot easier when we stop caring (to some extent – of course, we can’t go to work looking like bums!). And what’s the point of buying something solely to impress people we couldn’t care less about?
To be honest, I’d rather people like me for me. Not for my possessions, or lack thereof. It’s draining to pretend to be someone you’re not, and it’s even worse when you spend your money on it.
This ties back in with spending on priorities. Spend on YOUR priorities, NOT the priorities of others.
If you’re honest with yourself, you might find your priorities differ wildly from the general public. Own it.
I personally don’t watch TV – I’ve never been that into it. I also don’t really enjoy movies. People look at me as if I’m crazy when I say that, but it doesn’t phase me anymore. I’d much rather play a video game or read a book in my spare time.
Do what you enjoy, and I’ll do what I enjoy. It’s that simple.
“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.”
– Ayn Rand
This quote really spoke to me because I’ve had an unhealthy relationship with money in the past.
Due to growing up around debt, I saved like crazy as soon as I got my first part-time job. I never stopped, which led to a lot of deprivation on my end.
While I’m typically happy with the little things, I had fallen into the scarcity mindset. I wanted to hold onto all of my money out of fear something bad would happen.
But…money is just a tool. It’s a very useful one – don’t get me wrong – but I attached way too much importance to it. I realized many people were getting by with less.
If something horrible were to happen, I have a backup plan in place, and I know I’m resourceful enough to get back on my feet.
With that epiphany, I was able to take back control and become the driver again. Don’t let money control you.
________________
I hope you were able to get something out of these quotes. I love it when a quote makes me think and question my views, especially on finance. There are so many different opinions out there when it comes to money, and it’s always good to keep an open mind.
What is your favorite financial quote? Which one did you like the most from this list?
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I like all of those! Here’s my favorite: “Don’t wish it was easier. Wish you were better.”
These are all awesome quotes Erin! One of my favorites is a classic Warren Buffett quote – “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
Great compilation Erin! I like this one: “Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are.” Its’ so true. Actions speak volumes…way more so than words.
I love this :
“Too many people spend money they earned…to buy things they don’t want…to impress people that they don’t like.”
I adore quotes. I actually just did a post a few days ago with my 5 favorite quotes (in general, not solely finance-related). Great minds think alike :) Quotes really do give me inspiration and provide a little pick-me-up when I need some motivation.
Great compilation you have here, Erin!
Ben Franklin never disappoints – his quote is definitely my fave. Nice post!
I love that Frick quote–it’s just so perfect. I really do believe that once you set your goals, your money will follow. And if you don’t set those goals… danger!
Holly at ClubThrifty I love motivational quotes, too!
FrugalRules Yes, very much a classic! Warren has some great quotes to live by.
Beachbudget They do – words are meaningless until they’re followed up on with action.
Christina@EmbracingSimple Quotes are awesome, and I agree – sometimes they give you a much needed push when you’re feeling a little down. I’ll have to take a look at yours!
Financegirl He has so many good quotes to choose from!
Mrs. Frugalwoods It is! I’m learning more and more you just can’t get through life without setting some sort of goal. Wandering aimlessly is not productive.
I love the Will Rogers quote. It’s something I say pretty often. One of my favorite quotes is not that inspirational and is from Joan Rivers, “People say that money isn’t the key to happiness, but I always figured if you have enough money, you can have a key made.”
I know money does not make you happy, but it sure can buy lots of choices and freedoms that broke people just don’t have.
These are some great quotes, Erin! “Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are” is a favorite because it follows one of my core beliefs about value-based spending.
Eyesonthedollar I saw a few of those while browsing financial quotes, and they do have truth to them. Money definitely gives you more options, and I know I’m happier when I have more paths to take!
ShannonRyan Same here, Shannon! It’s just so simple and true.
That Will Rogers quote is the truth. I’m pretty sure he’s talking about at least 75% of our society.
Jason @ The Butler Journal I honestly wouldn’t be surprised if it was more than that! It’s a sad truth, but he put it so bluntly it kind of makes you think about why you purchase things.
My favorite money quote is, “Money is a terrible master but an excellent servant.” Google tells me PT Barnum said that. Now I have to google who that is.
Hannah UnplannedFinance I like that one, too! Thanks for sharing it.
Love the quotes, I always find that these are very motivating and put things into perspective when you may not be able to see light at the end of the tunnel!
mycareercrusade Yep, that’s how I feel! Quotes are great at putting words to feelings, too.
I love the Thomas Edison quote. I always tell people that my mom and dad didn’t give me good financial literacy skills but they gave me the next best thing and that was the value of hard work. I feel fortunate that I am not afraid of it because I truly know that that is the only way to success.
blonde_finance You know, that’s pretty true for me as well. I learned what not to do with my finances from my parents, but they were both hard workers and I believe they influenced my work ethic. I never questioned the value of working hard!
I think the Will Rogers chestnut remains my favorite. But I like the point about priorities. And I’m definitely guilty of wanting money for money’s sake. Granted, it’s mainly for security. But still, I forget to focus on what the money means, instead looking merely at the balance.
These are some great gems! I think my favorite is the James Frick quote about priorities and spending. It’s very true! Most people don’t look to their spending when they’re considering their priorities…they just feel like there is never enough money. But if we look at our spending, we really can make some changes to get where we want to be!
AbigailP I’ve gotten caught up in the trap of enjoying seeing my balances go up and focusing on the numbers, too. I’m so glad I’ve been able to make progress there – it’s a lot more freeing.
SimplySave That’s a great way of putting it, and so true – people spend without realizing exactly what they’re spending their money on, and then complain there’s not enough. They’re just not prioritizing!
Totally agree with Will Rogers! Especially in this day and age.
pambaker1093 Glad you liked it!
I LOVE that Edison quote! A lot of people my age are so work-averse and they expect to live a rich life. How do you expect to get rich if you’re not going to do the work to get there?
LisaVsTheLoans Exactly! I’m all for relaxing once in a while, but not giving your all to your work isn’t really going to get you anywhere (at least not quickly).