Saving Strategy Quotes

Don’t buy luxuries until you’ve built the assets to afford them

An amazing piece of advice for a lot of kids, 50-year-olds, whoever is listening right now: Saving money is a good strategy. I didn't have stuff, but it was because my parents were saving. They were saving. We didn't get toys. They told us to go outside and paint a rock. It was very, very smart because after seven or eight years, he was able to buy a liquor store of his own in Springfield, New Jersey - Shoppers Discount Liquors. He built up a great business.

If you expect to be a net saver during the next 5 years, should you hope for a higher or lower stock market during that period? Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.

When you run a surplus you save it for a rainy day. You don’t spend it.

If you're saving for the long run, it's actually a good thing when the market is down because the more shares you have, the more you can potentially make when markets rise. And over time - decades, not months - the markets rise more than they fall.

I'll treat myself every now and then. Like if I get $100,000, I'll spend $20,000 and put the rest away.

Investing is forgoing consumption now in order to have the ability to consume more at a later date.

I'm very organised with my money. It can sometimes feel like a full time job to keep on top of it but my best tip is to stay organised and always save first and then spend what you have left not spend and then save what's left.

Tying money up for 40 years doesn't sound appealing when you are young.