Three Key Axioms From The Famous
Famous people are not necessarily clever. They’re also not necessarily good with money. So, why would we look to them when thinking of our finances? Perhaps because, for whatever reason, they are in the public’s eye. And some of them have the wit or perception to deserve it. With that in mind, here are some of the more pithy or interesting famous axioms from famous people about money, and what we could learn from them.
No Care
“Many people take no care of their money till they come nearly to the end of it, and others do just the same with their time” (Goethe). It is often the case that, as soon as money comes our way, we are quick to spend it and get back to where we started- without much spare cash. And the same is true of our time; when we have little of it, we use it as a precious resource. When we have a lot of it, we tend to while it away. And as time can be money, it would be worthwhile to have a greater awareness of how we spend our money and our time. Once we are aware of it, we would be less likely to fritter it away.
Invest In Yourself
“Old men are always advising young men to save money. This is bad advice. Don’t save every nickel. Invest in yourself. I never saved a dollar until I was forty years old” (Henry Ford). A worthy reminder, especially in the personal finance world where we tend to get ourselves worked up into a saving frenzy. Saving is fantastic, and the earlier you start saving, the greater your rewards will be. Nothing could be better than a practical and sustainable savings system that you maintain over the course of your life. Though, as Ford points out, this cannot be at the expense of investing in yourself. You could lower your future earning potential by avoiding opportunities to gain new skills and experiences. This doesn’t necessarily just mean education, though that it one of the most worthwhile investments you can make. Travel, good healthcare, healthy food- these are all investments that will repay with interest.
Wishin’ And Hopin’
“It takes as much energy to wish as it does to plan” (Eleanor Roosevelt). How often do people say to you ‘Oh, I wish I could live debt-free’. ‘I wish I could save as you do’. ‘I wish I could afford to travel’. Eleanor is right- if we spent the time planning instead of wishing, we’d be halfway there. Make it happen. Often, all it takes is the decision. You want to be able to live debt-free? Decide that you will, and then work out to get there. It’ll take time, hard work, perseverance. But if you can decide to do it, chances are you will. And you won’t waste your energy on hoping.
Tidbits
And, to finish, a couple of gems:
“The safe way to double your money is to fold it over once, and put it in your pocket” (Frank Hubbard)
“October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February” (Mark Twain)
“If money is your hope for independence, you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience and ability” (Henry Ford)
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One Response for Three Key Axioms From The Famous
Some great ideas there to live by. I would say investing in yourself is such a key point.Great advice for anyone who has been trying to get ahead by scrimping and saving at the expense of their own needs – how many of us do that!
