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Money Management Quotes

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Money Management Quotes

“An investment in knowledge pays the best interest.”

“Beware of little expenses. A small leak will sink a great ship.”

“The way in which we manage the business of getting and spending is closely tied to our personal philosophy of living. We begin to develop this philosophy long before we have our first dollar to spend; and unless we are thinking people, our attitude toward money management may continue through the years to be tinged with the ignorance and innocence of childhood.”

“The general systems of money management today require people to pretend to do something they can't do and like something they don't. It's a funny business because on a net basis, the whole investment management business together gives no value added to all buyers combined. That's the way it has to work. Mutual funds charge two percent per year and then brokers switch people between funds, costing another three to four percentage points. The poor guy in the general public is getting a terrible product from the professionals.”

“Many respected economists and statesmen believe our national debt is neither unwieldy nor a dangerous burden on the country. The trouble is that a vast majority of the American people think otherwise.... It violates basic American ideas of thrift and money management. These strong public feelings cannot be ignored forever.”

“Regardless of what we think we know and should happen the reality is that a lot of stock action is random. Therefore, money management is crucial if you want to be successful as a trader. To me, it`s the cornerstone of both making a living at trading and building wealth.”

“A bank is a place that will lend you money if you can prove that you don't need it.”

“It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay, all trading, etc. Nobody else has used figures that high, but that's my guess. Worst of all, the people doing this are among the best and the brightest. Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization.”

“Harvard and Yale concentrated with venture capitalists that got the best calls and brainpower. Very few firms made most of the money, and they made it in just a few periods. Everyone else returned between mediocre and lousy. When returns happened, envy rippled through institutional money management. The amount invested in venture capital went up 10 times post-1999. That later money was lost very quickly. It will happen again. I don't know anyone who successfully resists this stuff. It becomes a new orthodoxy.”

“Never spend your money before you have earned it.”

“Time is what we want most, but what we use worst.”

“Too many people spend money they haven't earned to buy things they don't want to impress people they don't like.”

“Time is more valuable than money. You can get more money, but you cannot get more time.”

“Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.”

“Be you in what line of life you may, it will be amongst your misfortunes if you have not time properly to attend to [money management]; for. ... want of attention to pecuniary matters ... has impeded the progress of science and of genius itself.”