Quotes

“I am opposed to millionaires, but it would be dangerous to offer me the position.”

— Mark Twain

Here’s a quote that I think that many others can agree with! Although most of us are generally opposed to the idea of millionaires (perhaps because we assume that many millionaires have compromised their values in order to obtain their status), we would not mind being one ourselves.

Do we comfort ourselves with the idea of compromised values in order to compensate for our own lack of drive and desire to put in the work it takes to become a millionaire? Do we have other priorities? Or is it a lack of fear? I think that for many, it is a combination of all three (in varying amounts).

What do you think?

“The chief value of money lies in the fact that one lives in a world in which it is overestimated.”

— H. L. Mencken

I thought that this was a really interesting quote, especially after stressing the importance of money in the previous quotes. In the end, we can’t take money with us, but there are so many things in our life that center around money.

If money really is overestimated, what is important? The obvious answer is the relationships that we develop with others. Whether it is friends or family, the manner in which we interact with others is how we will be remembered by most. A majority of people won’t really care how much money we did or didn’t have?

So why is it so important? Other than the obvious answer that we need money to exchange for goods in order to survive, there’s really not a whole lot else. What do you think?

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

— Benjamin Franklin

How many people would be wealthy if they followed both steps? There seem to be a lot of getting going around, but not so much of the saving part. But now the economy is forcing some to switch from one side to the other. Is this a good thing?

It seems overall that making Americans begin to save instead of living on credit would be a good thing. Unfortunately, this change coincides with spending less, which will not stimulate the economy, to say the least. It looks like things are going to get worse before they get better.

Perhaps it is just part of the growing pains our country has to go through in the new global economy. It will be interesting to see how this plays out over time.

“While money can’t buy happiness, it certainly lets you choose your own form of misery.”

— Groucho Marx

I think that this is true, especially for celebrities. There are so many people these days who have a lot of money, but either live beyond their means (thereby negating the fact that they have money in the first place) or splurge on things which cause nothing but misery and/or additional responsibilities.

For example, I am not sure why so many people choose to spend money on hard drugs. I think that almost anyone can appreciate an occasional buzz from a nice glass of wine, but why take it to the extreme with insane amounts of hard drugs like heroin? Is life really that bad?

In the “additional responsibilities” category, I would have to say that I have never understood the desire to own a large boat or yacht. A canoe or small fishing boat I can understand. But unless you have money to burn, I have never understood why the average person who goes boating a couple times a year needs to have his or her own yacht. Perhaps it has something to do with living near a lake, and always seeing a ton of huge boats for sale on people’s lawns…

What is the most useless form of misery you can think of?

“A penny saved is a penny earned.”

— Benjamin Franklin

Perhaps Mr. Franklin should have added “unless you decide to invest it in the stock market!”. That being said, there is a lot of truth to this statement. In a society where most people are living paycheck to paycheck, and even spending more than they earn, we could learn a lot by just stashing some money away.

There is a movement towards being more frugal in today’s society, as well as being more socially and environmentally aware. Personally, I think that if America became a society of savers instead of spenders, our economy and country would be on much better footing and moving in the right direction.

Instead, we are bailing out everyone who made fundamental mistakes in the first place. We are considering sending out an additional “stimulus package” and encouraging people to spend in order to boost our economy. I don’t see this as a long term solution. Would you agree or disagree?

“I was part of that strange race of people aptly described as spending their lives doing things they detest to make money they don’t want to buy things they don’t need to impress people they dislike.”

— Emile Henry Gauvreay

These are words to think about. Are you part of the race of people that is being described? Or are you part of the group of people who are happy with their job and live by their own rules?

Presently, we are a part of the former group, but we hope to change that. Although we don’t buy things to impress people we don’t like, we do have a mortgage and student loans to pay off. Working towards financial freedom is very important to us, since it allows us to define our money instead of the other way around.

Is financial freedom a serious goal of yours? Why or why not?

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

— Jim Rohn

This quote is pretty straightforward. In the end, when our time is up, that is it. Spending all of our time to make something that we can’t take with us seems to be futile!

However, we can definitely enjoy money while we are here on earth. The secret is to find the balance between making enough money (hopefully enjoying ourselves in the process) and having the time to appreciate it. Being able to share our experiences with others, whether it be in the form of friends and/or family, is also important. I would also argue that giving back to others is an important aspect of spending our time wisely.

Would you agree or disagree?

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

— Author Unknown

I think that the recent financial crisis has made many people realize that they are truly worth less than they thought, since their only measure of worth is in dollars and cents. Others have taken this crisis as an opportunity to reevaluate their priorities, and decide what may be truly important in life.

Still others have come to realize that they need to pay attention to money in order to keep their life balanced. Knowing the basics of what is coming in and going out financially is an important aspect of keeping life in order.

What category do you fall into? Or are you perfectly content with where you are?

“If money be not thy servant, it will be thy master. The covetous man cannot so properly be said to possess wealth, as that may be said to possess him.”
–Francis Bacon

I think that one of the differences in the life of happy people is that they are content with what they have. In order to be content with what one has, there are a couple of criteria that need to be met. First, there has to be an appreciation for the possessions. Second, comparisons cannot be made all of the time (ie. with the neighbors). Third, it helps to actually own the possessions outright.

How many Americans are successful with all of these criteria? I can’t think of too many! Apparently, advertising has been pretty successful. We are told every day that what we have is not good enough. We can also easily purchase the things we “need” without having the money to pay for it. Until this cycle stops, I don’t think that our country is going to prosper.

This isn’t to say that people should never have loans. But there are differences between wants and needs, and how much any single individual really needs. Once we can tell the difference between a want and a need, we can begin to master our money.

“They who are of the opinion that Money will do everything, may very well be suspected to do everything for Money.”
–George Savile

Welcome to a new section of quotes! I thought that money would be an interesting topic, given the state of our current economic situation.

Although money is important, how central is it to our overall happiness? What kind of sacrifices would you be willing to make for more money? Health, time with our children, and even morals are routinely put on the back burner so that we can work more. But is it really worth it?

It seems that more people are working harder to pay for larger houses and fancy cars. Although they seem nice, I would much rather be less stressed and live in a smaller house and drive used cars. Sometimes, I get the impression that others think that I am crazy. What do you think?