Personal Finance Quotes

There are four ways in which you can spend money. You can spend your own money on yourself. When you do that, why then you really watch out what you’re doing, and you try to get the most for your money. Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost. Then, I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself, then I’m sure going to have a good lunch! Finally, I can spend somebody else’s money on somebody else. And if I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get. And that’s government. And that’s close to 40% of our national income.

Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.

Time is the most valuable asset you don't own.

If you spend your own money on yourself, you care how much you spend and how well you spend it. If you spend your own money on someone else, you care how much you spend, but you don't care how well it is spent. If you spend someone else's money on yourself, you don't care how much you spend, but you do care how well it is spent. And finally, if you spend someone else's money on someone else, you don't care how much you spend, and you don't care how well it is spent. That is government.

I am not evading tax in any way, shape or form. Now of course I am minimizing my tax and if anybody in this country doesn't minimize their tax they want their heads read because as a government I can tell you you're not spending it that well that we should be donating extra.

I have never had personal debt and never will.

Once you've gotten your money in balance, you know how much you have to spend on things that are just fun.

Such assets as I possessed even ten years ago have largely vanished during this period. Since I became Prime Minister, I have been unable to add to my income by any fresh writing and I have had to draw repeatedly on what capital I possessed because my salary as a Prime Minister was not adequate for my needs, limited as they were.

You must gain control over your money or the lack of it will forever control you.

I always invest my own money in the companies that I create. I don't believe in the whole thing of just using other people's money. I don't think that's right. I'm not going to ask other people to invest in something if I'm not prepared to do so myself.

Know what you own, and know why you own it.

I believe that hardworking people should retain as much of the money as they can in terms of the taxes that they pay. But I think everybody should pay their taxes.

I have only ever borrowed money for investment. I have been sound money all my life.

I was asked for years about being a Republican, probably because most black people are Democrats. My mother heard it once and called me and said 'Charles, Republicans are for the rich people.' And I said, 'Mom, I'm rich.'

Why I am NOT going to buy a computer

You're already a financial trader. You might not think of it in just this way, but if you work for a living, you're trading your time for money. Frankly, it's just about the worst trade you can make. Why? You can always get more money, but you can't get more time.

I've had a tough time learning how to act like a congressman. Today I accidentally spent some of my own money.

At 17, I went to Stanford University to study engineering. My time was occupied with the required reading and the extracurricular duties of managing the baseball and football teams and earning my way.

All workers, whether they are employed in the private or public sector, should avoid living 'paycheck to paycheck.' Studies show that every household wastes 10% or more of its salary or income on unnecessary expenditures or by not taking the time to shop for better prices. It's all a matter of proper budgeting.

Every budget I have ever prepared has been balanced.

Those who don't manage their money will always work for those who do

Money is 80% behavior, 20% head knowledge. It's what you do, not what you know.

Never lend money to a friend. It's dangerous. It could damage his memory.

A budget is simply telling your money where to go instead of wondering where it went.

Rule One. You must know the difference between an asset and a liability, and buy assets. An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket.