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50 Money Quotes by Famous People that Can Change Your Attitude Towards Money

50 Money Quotes by Famous People that Can Change Your Attitude Towards Money

When you need advice about your finances, it’s often quite inspirational, interesting, and even funny to research the opinions of famous businessmen, thinkers, and celebrities. Check out our 50 favorite money quotes below: we hope they can help you change your attitude towards money in a positive way.

1. “Money can’t buy friends, but you can get a better class of enemy.” Spike Milligan

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    2.  “Money has never made man happy, nor will it, there is nothing in its nature to produce happiness. The more of it one has the more one wants.” Benjamin Franklin

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      3. “A wise person should have money in their head, but not in their heart.” Jonathan Swift

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        4. “Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.” Donald Trump

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          5. “Money often costs too much.” Ralph Waldo Emerson

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            6. “A man is rich in proportion to the things he can afford to let alone.” Henry David Thoreau

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              7. “You can only become truly accomplished at something you love. Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you.” Maya Angelou

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                8. “Money is usually attracted, not pursued.” Jim Rohn

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                  9. “Not he who has much is rich, but he who gives much.”
Erich Fromm

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                    10. “Never stand begging for that which you have the power to earn.” Miguel de Cervantes

                    never-stand-begging-for-that-which-you

                      11. “There’s no money in poetry, but then there’s no poetry in money, either.” Robert Graves

                      12. “I’d like to live as a poor man with lots of money.” Pablo Picasso

                      13. “When it is a question of money, everybody is of the same religion.”  Voltaire

                      14. “Money is power, freedom, a cushion, the root of all evil, the sum of blessings.” Carl Sandburg

                      15. “It is better to have a permanent income than to be fascinating.” Oscar Wilde

                      16. “It doesn’t matter about money; having it, not having it. Or having clothes, or not having them. You’re still left alone with yourself in the end.” Billy Idol

                      17. “What difference does it make how much you have? What you do not have amounts to much more.” Seneca

                      18. “You use your money to buy privacy because during most of your life you aren’t allowed to be normal.” Johnny Depp

                      19. “The art is not in making money, but in keeping it.” Proverb

                      20. “The glow of one warm thought is to me worth more than money.” Thomas Jefferson

                      21. “Money is the wise man’s religion.” Euripides

                      22. “Only buy something that you’d be perfectly happy to hold if the market shut down for ten years.” Warren Buffett

                      23. “Put all good eggs in one basket and then watch that basket.” Andrew Carnegie

                      24. “Neither a borrower nor a lender be, for loan oft loses both itself and friend, and borrowing dulls the edge of husbandry.” William Shakespeare

                      25. “Money is like mucknot good unless it be spread.” Francis Bacon

                      26. “Money can’t buy happiness, but it will certainly get you a better class of memories.” Ronald Reagan

                      27. “Never ask of money spent Where the spender thinks it went. Nobody was ever meant To remember or invent What he did with every cent.” Robert Frost

                      28. “When I had money everyone called me brother.” Polish proverb

                      29. “For I don’t care too much for money, for money can’t buy me love.” The Beatles

                      30. “If you think nobody cares if you’re alive, try missing a couple of car payments.” Earl Wilson

                      31. “Money is a guarantee that we may have what we want in the future. Though we need nothing at the moment it insures the possibility of satisfying a new desire when it arises.” Aristotle

                      32. “Money and women are the most sought after and the least known about of any two things we have.” Will Rogers

                      33. “My formula for success is rise early, work late and strike oil.” JP Getty.

                      34. “I made my money the old-fashioned way. I was very nice to a wealthy relative right before he died” Malcolm Forbes

                      35. “Frugality includes all the other virtues.” Cicero

                      36. “Capital as such is not evil; it is its wrong use that is evil. Capital in some form or other will always be needed.” Gandhi

                      37. “He who loses money, loses much; He who loses a friend, loses much more; He who loses faith, loses all.”
Eleanor Roosevelt

                      38. “Know what you own, and know why you own it.” – Peter Lynch

                      39. “Formal education will make you a living; self-education will make you a fortune.” Jim Rohn

                      40. “A treasure is to be valued for its own sake and not for what it will buy.” Graham Greene

                      41. “The way to stop financial joyriding is to arrest the chauffeur, not the automobile.” Woodrow Wilson

                      42. “I pity that man who wants a coat so cheap that the man or woman who produces the cloth shall starve in the process.” Benjamin Harrison

                      43. “Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas Edison

                      44. “An investment in knowledge pays the best interest.” Benjamin Franklin

                      45. “Expect the best. Prepare for the worst. Capitalize on what comes.” Zig Ziglar

                      46. “In investing, what is comfortable is rarely profitable.” Robert Arnott

                      47. “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

                      48. “Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you.” Carl Sandburg

                      49. “Make money your god, and it will plague you like the devil.” Henry Fielding

                      50. “If you would be wealthy, think of saving as well as getting.” Ben Franklin

                       

                      What’s your favorite money quote? Who is your role model when it comes to finances?

                      More by this author

                      Catherine Alford

                      Catherine is the go to personal finance expert for educated, aspirational moms who want to recapture their life passions.

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                      Last Updated on June 6, 2019

                      The Average Retirement Savings and How to Save Wisely

                      The Average Retirement Savings and How to Save Wisely

                      Are you on track for retirement?

                      If not, don’t worry, I’m not sure either. I save each month and hope for the best.

                      Fortunately, I’m at an age where most people don’t save so I’m ahead of the curve.

                      But, what if you aren’t in your 20s? What if you’re near retirement and are looking to gauge where you stand?

                      If so, keep reading. Here’s how to prepare for retirement and save wisely during the process.

                      What Does the Average American Have Saved for Retirement?

                      Saving for retirement is tricky.

                      Tell someone straight out of college to save $10k a year for retirement and it’ll be next to impossible.

                      Make the same request to someone decades older and they’d be more likely to be able to save this amount. But, a 20-year old college student can be “financially ahead” of someone saving more than them. Why?

                      Age matters in your financial journey. The younger you are, the more time you have to save and put compound interest to work. As you get older and have more saving power, you’d have less time to put compound interest to work.

                      Here are the average savings Americans hold by age bracket:

                      20’s – $16,000

                      During this stage, most people are paying loans and moving up the corporate ladder. Your best bet during this stage is to focus on eliminating debt and increasing your income. Don’t focus only on getting a high-paying job neither.

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                      Instead, focus on learning via Podcasts, reading books, and taking specialized courses. Doing this will make you more valuable and give you more career options.

                      30’s – $45,000

                      At this stage, you’ve hopefully escaped your entry-level salary and work at a career you enjoy. Your earning power has increased but you now have more obligations. For example, marriage, kids, and a mortgage.

                      Set a plan to pay off all your debt and focus on eliminating unnecessary expenses. Leverage financial tools like Personal Capital to ensure you’re on track for retirement.

                      40’s – $63,000

                      This is the stage where you’re at the prime of your career. Top financial institutions recommend you have at least 2 to 4 times your salary saved up. If you’re falling behind, start maxing out your 401K and Roth IRA accounts.

                      50’s – $115,000

                      During your fifties, you’re close to retirement but still, have time to save. You may be helping your kids pay college tuition and other expenses. Since you’re at the peak of your earning power, max out all your retirement accounts.

                      60’s – $172,000

                      By this point, you should have about eight times your salary saved up. If not, you’ll depend primarily on social security benefits averaging $1400 per month. Max out all your retirement options as much as possible before retiring.

                      Ways to Save Money on a Tight Budget

                      The sad reality is that most Americans aren’t saving enough for retirement.

                      Even high-earning power isn’t enough to secure one’s financial future. You need to have the discipline to save for retirement while time is in your favor. Don’t wait for you to have a high salary to save, start with having a small budget.

                      First, get a clear picture of where you stand. Write down a list of “needs” and “wants.” For example, Netflix and Amazon Prime are “wants” and a “cell-phone” is a need.

                      Use tools like Personal Capital to analyze your spending patterns. Personal Capital allows you to add all your financial data in one place–making it a powerful option to gauge where you stand.

                      Once you know all your expenses, organize them from highest to lowest expense. When you can’t cut more expenses, call your service providers to negotiate a lower price. If you’re not good at negotiating, use services like Trimm to lower your monthly expenses.

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                      How to Save Money Each Month

                      By this point, you know the average amount of money you should have saved for retirement based on your age.

                      But, breaking this down into monthly goals can be challenging. Here are some rule of thumbs to follow:

                      Aim to contribute 10%–15% of your salary each paycheck. Review your progress each week.

                      Why so often? The reality is that life gets in our way and you will have many financial setbacks. Your goal isn’t to be perfect but to get back on track instead.

                      Reviewing your finances weekly lets you know where you stand with your retirement. This doesn’t have to be a long process either. All it takes is login in Personal Capital to view your net worth and check how much you have saved for retirement.

                      Turn saving into a game and aim to save more each month. It will get challenging but you’ll get creative and find more ways to save.

                      Top Money Saving Challenge Tips

                      To prepare for your financial future and not be another statistic you need to be different.

                      How?

                      By adopting new habits that’ll help you become a saving machine. Here are some ways you can save more:

                      Automatically Contribute Towards Retirement

                      If you’re working for a company, you can automatically contribute towards your 401k. If you’re not currently contributing more than 10%, make this your goal. Contribute 1% more today and automatically increase this amount a year from now.

                      Odds are that you’re not going to be negatively affected by contributing 1% more. Many times we spend our money on things we don’t need. Contributing more towards retirement is a great way to secure your financial future.

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                      Use the Right Tools to Know Where You Stand

                      Once you’re contributing more towards your retirement accounts, gauge your progress. Make use of finance tracking apps to help you view the big picture of your retirement.

                      When I’d first signed up for the app Personal Capital, I didn’t know I had a negative net worth. Despite saving thousands of dollars, my debt brought my net worth to the negative. Knowing this motivated me to save more and spend less.

                      Now, I have a positive net worth. But, it was because I was able to view the big picture using the app. Find out what your net worth is using a finance tracking app and you may surprise yourself.

                      Bring in Experts to View Your Blind Spots

                      If you have too little or too much money saved, you should consider hiring financial experts.

                      Why?

                      You may need someone to hold you accountable to help you reach your financial goals. Or, you may need help managing your money as effective as possible.

                      Regardless of the reason, getting help may help improve your financial situation.

                      Before you hire an expert, find out which areas you need help the most. For example, if you’re constantly overspending, find a debt counselor. If you’re struggling with choosing the best investment options, hire a financial advisor.

                      Speed up Your Retirement Contribution

                      After learning how to manage your money well, the next best thing is to earn a higher income.

                      You’re capped at how much you can save but not much you can earn. Even if your employer isn’t giving you a promotion, you can still take charge of your financial future. How?

                      By starting a side-business.

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                      This will be something you’d work on after you’ve finished your day job. Once you start earning income from your side-business, you’ll be financially better off.

                      The best part is the more work you put into your side-business,[1] the more potential it has to earn more money.

                      So start a side-business in an area you’re familiar with. For example, if you enjoy writing, do freelance writing for small e-commerce businesses.

                      Once you’re earning a higher income, you can contribute more towards your retirement. Don’t wait for the right opportunity to secure your financial future, create one.

                      Reach Financial Freedom with Confidence

                      What if you were able to retire tomorrow with no problem, all because you’d have enough money saved up and little to no debt left to pay off? How would you feel?

                      My guess is that you’d feel happy and relieved.

                      Most Americans are falling behind their retirement goals for many reasons. They’re not prepared, they carry bad money-habits and are thinking short-term.

                      For you to retire successfully, you need to work backward and adopt better habits. Contribute more towards your 401K and focus on growing your income.

                      If you do, you’ll save money and pay debt faster.

                      Don’t beat yourself up if you’re behind your retirement goals. Take the first step today towards a brighter financial future. Isn’t retirement worth the hard work and sacrifice to be at peace?

                      Featured photo credit: Huy Phan via unsplash.com

                      Reference

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