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40 Powerful Quotes That Will Inspire Your Mind For True Wealth

40 Powerful Quotes That Will Inspire Your Mind For True Wealth

The world is full of people looking for quick money and wealth, especially in this age of information technology and instant gratification. There is nothing particularly wrong with that, but too often we miss the mark in our quest for wealth and material possessions and fall short of what we truly desire in life. Here are powerful quotes and words of wisdom from some of the greatest thinkers and achievers in history that will inspire your heart and mind for true wealth and happiness in life.

On the True Measure of Wealth

1. “Wealth consists not in having great possessions, but in having few wants.” —Epictetus

2. “Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” —Ayn Rand

3. “The gratification of wealth is not found in mere possession or in lavish expenditure, but in its wise application.” —Miguel de Cervantes

4. “Only when the last tree has died and the last river been poisoned and the last fish been caught will we realize we cannot eat money.” —Indian Proverb

5. “One man to live in pleasure and wealth whilst all other weep and smart for it, that is the part not of a king, but of a jailor.” —Thomas More

6. “We make a living by what we get. We make a life by what we give.” —Winston Churchill

7. “The real measure of your wealth is how much you’d be worth if you lost all your money.” —unknown

8. “The wealth of a soul is measured by how much it can feel… its poverty by how little.” —Sherrilyn Kenyon

9. “Integrity is the essence of everything successful.” —R. Buckminster Fuller

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10. “To be wealthy and honored in an unjust society is a disgrace.” —Confucius

Whinston Churchil

    Image: thenext28days via flickr

    On Taking Charge of Your Wealth

    11. “Let others lead small lives, but not you. Let others argue over small things, but not you. Let others cry over small hurts, but not you. Let others leave their future in someone else’s hands, but not you.” —Jim Rohn

    12. “Destiny is as destiny does. If you believe you have no control, then you have no control.” —Wess Roberts

    13. “If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.” —Edmund Burke

    14. “Be master of your petty annoyances and conserve your energies for the big, worthwhile things. It isn’t the mountain ahead that wears you out – it’s the grain of sand in your shoe.” —Robert Service

    15. “Create a set of great personal values and surround yourself with the right people that can form your support system. Have an optimistic spirit and develop a strong purpose that you completely believe in and everything you can imagine is possible, for you.” —Andrew Horton

    16. “I am grateful for the blessings of wealth, but it hasn’t changed who I am. My feet are still on the ground. I’m just wearing better shoes.” —Oprah Winfrey

    17. “Wealth is the slave of a wise man. The master of a fool” —Seneca

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    18. “A wise man should have money in his head, but not in his heart.” —Jonathan Swift

    19. “An investment in knowledge pays the best dividends.” —Benjamin Franklin

    20. “Anything that you learn becomes your wealth, a wealth that cannot be taken away from you; whether you learn it in a building called school or in the school of life. To learn something new is a timeless pleasure and a valuable treasure. And not all things that you learn are taught to you, but many things that you learn you realize you have taught yourself.” ― C. JoyBell

    Benjamin Franklin

      Image: trustypics via flickr

      On Pursuing Wealth and Happiness

      21.“Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.” —Franklin D. Roosevelt

      22. “It’s a kind of spiritual snobbery that makes people think they can be happy without money.” —Albert Camus

      23. “Money is neither my god nor my devil. It is a form of energy that tends to make us more of who we already are, whether it’s greedy or loving.” —Dan Millman

      24. “What good is money if it can’t buy happiness?” —Agatha Christie

      25. “View money and things not as something you create to fill a lack, but as tools to help you more fully express yourself and realize your potential.” —Sanaya Roman and Duane Packer

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      26. “Acknowledging the good that you already have in your life is the foundation for all abundance.” —Eckhart Tolle

      27. “Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” —Oprah Winfrey

      28. “Both abundance and lack exist simultaneously in our lives, as parallel realities. It is always our conscious choice which secret garden we will tend… when we choose to be grateful for the abundance that’s present — love, health, family, friends, work, the joys of nature and personal pursuits that bring us pleasure — the wasteland of lack falls away and we experience heaven on Earth.” —Sarah Ban Breathnach

      29. “Seek not greater wealth, but simpler pleasure; not higher fortune, but deeper felicity.” —Mahatma Gandhi

      30. “Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.” —Herman Cain

      Virgil Finlay

        Image: Thomas Shahan 3 via flickr

        On Attaining Wealth

        31. “It is not in everyone’s power to secure wealth, office, or honors; but everyone may be good, generous, and wise.” —Luc De Clapiers

        32. “Education is the great engine of personal development. It is through education that the daughter of a peasant can become a doctor, that the son of a mineworker can become the head of the mine, that a child of farm workers can become the president of a great nation. It is what we make out of what we have, not what we are given, that separates one person from another.” —Nelson Mandela

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        Nelson Mandela

          Image: redtouchmedia via flickr

          33. “The tragedy of life doesn’t lie in not reaching your goal. The tragedy lies in having no goal to reach.” —Benjamin E. Mayes

          34. “One important key to success is self-confidence. An important key to self-confidence is preparation.” —Arthur Ashe

          35. “When we feel stuck, going nowhere – even starting to slip backward – we may actually be backing up to get a running start.” —Dan Millman

          36. “Be ready when opportunity comes…. Luck is when preparation and opportunity meet.” —Roy D. Chapin Jr.

          37. “What is opportunity, and when does it knock? It never knocks. You can wait a whole lifetime, listening, hoping, and you will hear no knocking. None at all. You are opportunity, and you must knock on the door leading to your destiny.” —Maxwell Maltz

          38. “Fortune sides with him who dares.” —Virgil

          39. “No man should receive a dollar unless that dollar has been fairly earned.” —Theodore Roosevelt

          40. “No wealth can ever make a bad man at peace with himself” —Plato

          Featured photo credit: Celestine Chua via flickr.com

          More by this author

          David K. William

          David is a publisher and entrepreneur who tries to help professionals grow their business and careers, and gives advice for entrepreneurs.

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          Last Updated on August 20, 2019

          How to Set Financial Goals and Actually Meet Them

          How to Set Financial Goals and Actually Meet Them

          Finances can push anyone to the point of extreme anxiety and worry. Easier said than done, planning finances is not an egg meant for everyone’s basket. And that’s why most of us are often living pay check to pay check. But did anyone tell you that it is actually not a tough task to meet your financial goals?

          In this article, we will explore ways on how to set financial goals and then actually meet them with ease.

          5 Steps to Set Financial Goals

          Though setting financial goals might seem to be a daunting task but if one has the will and clarity of thought, it is rather easy. Try using these steps:

          1. Be Clear About the Objectives

          Any goal (let alone financial) without a clear objective is nothing more than a pipe dream. And this couldn’t be more true for financial matters.

          It is often said that savings is nothing but deferred consumption. Therefore if you are saving today, then you should be crystal clear about what it is for. It could be anything like kid’s education, retirement, marriage, that dream vacation, fancy car etc.

          Once the objective is clear, put a monetary value to that objective and the time frame. The important point at this step of goal setting is to list all the objectives, however small they may be, that you foresee in the future and put a value to it.

          2. Keep Them Realistic

          It’s good to be an optimistic person but being a pollyanna is not desirable. Similarly, while it might be a good thing to keep your financial goals a bit aggressive, going out of the line will definitely hurt your chances of achieving them.

          It’s important that you keep your goals realistic in nature for it will help you stay the course and keep you motivated throughout the journey.

          3. Account for Inflation

          Ronald Reagan once said – “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hitman”. And this quote sums up the best what inflation could do your financial goals.

          Therefore account for inflation whenever you are putting a monetary value to a financial objective that is far away in the future.

          For example, if one of your financial goal is your son’s college education, which is 15 years hence, then inflation would increase the monetary burden by more than 50% if inflation is mere 3%. So always account for inflation.

          4. Short Term vs Long Term

          Just like every calorie is not the same, the approach towards achieving every financial goal will not be the same. It is important to bifurcate goals in short term and long term.

          As a rule of thumb, any financial goal, which is due in next 3 years should be termed as short term goal. Any longer duration goals are to be classified as long term goals. This bifurcation of goals into short term vs long term will help in choosing the right investment instrument to achieve them.

          More on this later when we talk about how to achieve financial goals.

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          5. To Each to His Own

          The journey of setting financial goals is an individualistic affair i.e. your goals are your own goals and are determined by your want to achieve them. A lot of times we get on the bandwagon of goal setting only to realize later on that it was not meant for us.

          It is important that your goals are actually your goals and not inspired by someone else. Take a hard look at this step at all the goals you’ve set for after this step, you will be on the way to achieve them.

          By now, you would be ready with your financial goals, now it’s time to go all out and achieve them.

          11 Ways to Achieve Your Financial Goals

          Whenever we talk about chasing any financial goal, it is usually a 2 step process –

          • Ensuring healthy savings
          • Making smart investments

          You will need to save enough; and invest those savings wisely so that they grow over a period of time to help you achieve goals. So let’s get down to ensuring healthy savings.

          Ensuring Healthy Savings

          Self realization is the best form of realisation and unless you decide what your current financial position is, you aren’t heading anywhere.

          This is the focal point from where you start your journey of achieving financial goals.

          1. Track Expenses

          The first and the foremost thing to be done is to track your monthly expenses. Use any of the expense tracking mobile apps to record your expenses. Once you start doing it diligently, you would be surprised to see how small expenses add up to a sizeable amount.

          Also categorize those expenses into different bucket so that you know which bucket is eating the most of your pay check. This record keeping will pave the way for cutting down on un-wanted expenses and pump up your savings rate.

          2. Pay Yourself First

          Generally, savings come after all the expenses have been taken care of. This is a classical mistake which almost everyone of us do. We pay ourselves last!

          Ideally, this should be planned upside down. We should be paying ourselves first and then to the world i.e. we should be taking out the planned saving amount first and then manage all the expenses from the rest.

          The best way to actually implement is to put the savings on automatic mode i.e. money flowing automatically into different financial instruments (for example – mutual funds, retirement corpus etc) every month.

          Taking the automatic route will make us lose control of our money and hence will compel us to manage in what’s left with us thereby increasing the savings rate.

          3. Make a Plan and Vow to Stick with It

          Budgeting is the best to get around the uncertainty that financial plans always pose. Decide in advance how spending has to be made.

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          Nowadays, several money management apps and wallets can help you do this automatically. It’s easy and who knows, you may just end up doing what people fail to do.

          At first, you may not be able to stick to your plans completely but don’t let that become a reason why you stop budgeting entirely.

          Make use of technology solutions you like. Explore options and alternatives that let you make use of the available wallet options and choose the one that suits you the most. In time, you will get accustomed to making use of these solutions.

          You will find that they make it simpler for you to follow your plan, which would have been difficult otherwise.

          4. Rise Again Even If You Fall

          Let’s be realistic. It’s not like the world will come to an end if you made one mistake. This isn’t called leniency but discipline.

          If you fail to meet your budget for a month, don’t give up the entire effort just like that. Instead, start again.

          Remember that flexible plans are the most realistic plans. So go forward and try to follow your financial goals as planned but if for some reason, the plan gets out of hand for you, do not give up on it just yet. This has a lot to do with your psychology rather than any material commitment.

          All you have to do is to stay on the road and vow to stay on it, no matter how much you fall down.

          5. Make Savings a Habit and Not a Goal

          In the book Nudge, authors Richard Thaler and Cass Sunstein advocate that in order to achieve any goal, it should be broken down into habits since habits are more intuitive for people to adapt to.

          Make Savings a habit rather than a goal. While it might seem to be counter intuitive to many but there are some deft ways of doing it. For example:

          Always eat out (if at all) during weekdays rather than weekends. Usually weekends are expensive. Make it a habit and you would in turn be saving a great deal.

          If you are travelling buff, try to travel during off season. Your outlay will be much less.

          If you go out for shopping, always look out for coupons and see where can you get the best deal.

          So the key point is to imbibe the action that results in savings rather than on the savings itself, which is the outcome. Focusing on the outcome will bring out the feeling of sacrifice which will be harder to sustain over a period of time.

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          6. Talk About It

          Sticking to the saving schedule (to achieve financial goals) is not an easy journey. There will be many distractions from those who are not aligned with your mission. And it would be rather easy to lose the grip over your discipline.

          Therefore in order to stay the course, it is advisable that you keep yourself surrounded with people who are also on the same bandwagon. Daily discussions with them will keep you motivated to move forward.

          7. Maintain a Journal

          For some people, writing helps a great deal in making sure that they achieve what they plan.

          So if you are one of them, maintain a proper journal, where you write down your goals and also jot down the extent to which you managed to meet them. This will help you in reviewing how far you have come and which goals you have met.

          Use this journal to write down all essential points such as your short term, mid term and long term goals, your current sources of income, your regular expenses which you are aware of and any committed expenses which are of recurring nature.

          When you have a written commitment on paper, you are going to feel more energised to follow the plan and stick to it. Moreover, it is going to be a lot more easier for you to follow you and track your progress.

          At this point, you should be ready with your financial goals and would be doing brilliantly with savings; now it’s time to talk about the big daddy – Investments.

          Making Smart Investments

          Savings by themselves don’t take anyone too far. However savings when invested wisely can do wonders and we are at that stage where we will talk about making smart investments.

          8. Consult a Financial Advisor

          Investments doesn’t come naturally to most of us therefore rather than dabbling with it ourselves, it is wise to consult a financial advisor.

          Talk to him/her about your financial goals and savings and then seek advice for the best investment instruments to achieve your goals.

          9. Choose Your Investment Instrument Wisely

          Though your financial advisor will suggest the best investment instruments, it doesn’t hurt to know a bit about them.

          Just like “no one is born a criminal”, no investment instrument is bad or good. It is the application of that instrument that makes all the difference.

          Do you remember we talked about bifurcating financial goals in short term and long term?

          It is here where that classification will help.

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          So as a general rule, for all your short term financial goals, choose an investment instrument that has debt nature for example fixed deposits, debt mutual funds etc. The reason for going for debt instruments is that chances of capital loss is less as compared to equity instruments.

          10. Compounding Is the Eighth Wonder

          Einstein once remarked about compounding,

          Compound Interest is the eighth wonder of the world. He who understands it, earns it… He who doesn’t… Pays it.

          So make friends with this wonder kid. And sooner you become friends with it, quicker you will reach closer to your financial goals.

          Start investing early so that time is on your side to help you bear the fruits of compounding.

          11. Measure, Measure, Measure

          All of us do good when it comes to earning more per month but fail miserably when it comes to measuring the investments; taking stock of how our investments are doing.

          If there is one single step where everything (so far) can go wrong, it is at this step – Measuring the Progress.

          If we don’t measure the progress timely, then we would be shooting in the dark. We wouldn’t know if our saving rate is appropriate or not; whether financial advisor is doing a decent job; whether we are moving closer to our target or not.

          Do measure everything. If you can’t measure it all yourself, ask your financial advisor to do it for you. But do it!

          The Bottom Line

          This completes the list of tips for you to set financial goals and actually achieve them with not so great difficulty.

          As you can see, all it requires is discipline. But guess that’s the most difficult part!

          More About Personal Finance Management

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