The Best Money Advice From Well-Known People  [And Key Takeaways]

At some point in your life, you’ve probably received some money advice. This could be from parents, friends, colleagues, or even indirectly from acquaintances. 

P.T. Barnum – The Satisfaction of Saving Money

“A penny here, and a dollar there, placed at interest, goes on accumulating, and in this way the desired result is attained. It requires some training, perhaps, to accomplish this economy, but when once used to it, you will find there is more satisfaction in rational saving than in irrational spending.”

Key Takeaways:

- Saving money, no matter the amount, builds as time passes - Overtime, seeing the results of your saving is motivating - Spending provides temporary happiness, saving for one’s future can create a lifetime of satisfaction compared to “stuff.”

Mark Cuban – Master Your Personal Spending

“If you can, you will quickly find that the greatest rate of return you will earn is on your own personal spending. Being a smart shopper is the first step to getting rich.”

Key Takeaways:

- Learn and value needs vs. wants - Mastering your spending helps you on the path to wealth - Once you have wealth, you want to maintain it by self-control

Warren Buffett – More to Life Than Money

“Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.”

Key Takeaways:

- Material things are temporary happiness where good health, friends, and family matter more - The instant gratification and obsession with owning the best or biggest ends up controlling who you are - Nothing wrong with having money and buying things from time to time, remember that life isn’t just about “stuff” you can buy

Swipe up now for more  financial tips!