MONEY TIPS

0. Buy land, they're not making it any more. - Mark Twain

1. The harder you work, the luckier you become. - Barry Ritholtz

2. Five Money Ratios to Live By - WC Porter in Personal Finance, Career and Income, Budgeting

         a/ Spend 30% of Your Income on Housing

         b/ Save 10% of Your Paycheck

         c/ Spend Three Months Salary on an Engagement Ring

         d/ Don't Spend More than 4% of Your Nest Egg

         e/ 120 - Your Age = How Much You Should Invest in Stocks

3. We will never become dependent on the kindness of strangers - Warren E. Buffett

4. One must choose, in life, between making money and spending it. There's no time to do both. (Edouard Bourdet)

5. If a man has money, it is usually a sign, too, that he knows how to take care of it; don't imagine his money is easy to get simply because he has plenty of it. - Edgar Watson Howe

6. The safest way to double your money is to fold it over once and put it in your pocket. - Kin Hubbard

7. If money is your ONLY hope for independence, you will never have it. The only real security that a person can have in this world is a reserve of knowledge, experience, and ability. Without these qualities, money is practically useless. - Henry Ford

8. If you want to feel rich, just count all of the things you have that money can't buy. - Unknown

9. Prosperity is a way of living and thinking, and not just money or things. Poverty is a way of living and thinking, and not just a lack of money or things. - Eric Butterworth

10. Property may be destroyed and money may lose its purchasing power; but, character, health, knowledge and good judgment will always be in demand under all conditions. - Roger Babson

11. If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem. - JP Getty

12. If a man runs after money, he's money-mad; if he keeps it, he's a capitalist; if he spends it, he's a playboy; if he doesn't get it, he's a ne'er-do-well; if he doesn't try to get it, he lacks ambition. If he gets it without working for it, he's a parasite; and if he accumulates it after a lifetime of hard work, people call him a fool who never got anything out of life. - Vic Oliver (1898-1964)

13. Money can't buy friends. But you can afford a better class of enemy. - Lord Mancroft

14. Focusing your life solely on making a buck shows a poverty of ambition. It asks too little of yourself. And it will leave you unfulfilled. - Barack Obama

15. Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort. - Franklin D. Roosevelt

16. Someone asked me why women don't gamble as much as men do, and I gave the commonsensical reply that we don't have as much money. That was a true and incomplete answer. In fact, women's total instinct for gambling is satisfied by marriage. - Gloria Steinem

17. God is on everyone's side … and in the last analysis, he is on the side with plenty of money and large armies. - Jean Anouilh

18. The rule is not to talk about money with people who have much more or much less than you. - Katherine Whitehorn

19. Money often costs too much. - Ralph Waldo Emerson

20. Success is not final, failure is not fatal: It is the courage to continue that counts. - Winston Churchill

21. Chinese Wisdom about money:

            - With money you can buy a house, but not a home.

            - With money you can buy a clock, but not time.

            - With money you can buy a bed, but not sleep.

            - With money you can buy a book, but not knowledge.

            - With money you can buy a doctor, but not good health.

            - With money you can buy a position, but not respect.

            - With money you can buy blood, but not life.

            - With money you can buy sex, but not love.

22. 21 Secrets for Your Business Success from Self-Made Millionaires - Brian Tracy

           - Dream Big Dreams

           - Develop a Clear Sense of Direction

           - See Yourself As Self-Employed

           - Do What You Love To Do

           - Commit to Excellence

           - Work Longer and Harder

           - Dedicate Yourself to Lifelong Learning

           - Pay Yourself First

           - Learn Every Detail of the Business

           - Dedicate Yourself to Serving Others

           - Be Absolutely Honest With Yourself and Others

           - Set Priorities and Concentrate Single-mindedly

           - Develop a Reputation for Speed and Dependability

           - Be Prepared to Climb From Peak to Peak

           - Practice Self-Discipline In All Things

           - Unlock Your Inborn Creativity

           - Get Around The Right People

           - Take Excellent Care of Your Physical Health

           - Be Decisive and Action Oriented

           - Never Allow Failure To Be An Option

           - Never Give Up

23. King Solomon: Trust God not gold

           - He who loves money will not be satisfied with money.

           - Lazy people will never be prosperous.

           - Diligent, honest and consistent hard-working people who are wise will prosper.

           - If you borrow, you are a SLAVE to that person or company.

           - Learning what to say or not to say and when to say it will impact your pocketbook.

           - Giving people get back more and stingy people lack.

           - People who are greedy to gain – it takes away their life.

           - Consider the ant, how they work without a master and they work to provide food for the winter.

24. Warren Buffett said. "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."

25. Warren Buffett - "Diversification is for people who don't know what they're doing."
Robert Kiyosaki - "Diversifying is like going to a horse race and betting on every horse."

26. Basic rule: Good investments generate income, not expenses. Therefore, owning a house is not necessary a good investment because it has to pay expenses like maintenance, insurance, and taxes. Unless, the house is so special and it appreciates its value more than the inflation rate.

27. Big successful businesses did not start with big money. They started with big idea.

28. Do not worry how much money you will earn for your effort. Anything you do, try to do it best and money will flow in eventually.

29. Home you can afford: 30% of your income. (From Manisha Thakor)
               - Car that drives you to trouble: Total transportation costs should be 10% of your income
               - How much will you need to retire? 25 x you current income

30. Top 5 tips to build wealth & success - Peter Gorensten & Farnoosh Tarabi

            - Live Below Your Means
            - Bounce Back From Defeat
            - Self-Promote (Having strong sense of self-worth)
            - Have Street Smart
            - Buy Cheap

31. Get your problem helped by saying this to customer service:
                                  - "What would you do if you were in my situation?"

32. Retire your debt before you retire. - Jane Bryant Quinn

33. "It All Starts With Saving." If you don't put money aside now, you won't have money later on. (Burton Malkiel)

34. Your bond position should be commensurate with your age. Someone in their fifties should consider 50% in bonds. The value of the bond position is not just that it provides you some protection in a down market -- it does, of course. But its value is that it keeps you from making behavioral errors such as selling stocks during a panic. (Jack Bogle)

35. "What's our budget look like?" I'd say, "Tell me what your revenues are. Okay, that's your revenues --then your costs are like 30% below that." Revenues always dictate costs. (Robert L. Johnson)

36. Focus on your needs, not wants (Liz Claman)

37. Check your Finance's health: (Source: money.cnn.com)

              - Your mortgage payment should not exceed 28% of gross income
              - Your total debt payment should not exceed 36% of gross income
              - Your emergency fund should be 6 months of living expenses in liquid assets
              - What percentage of your portfolio should be in stocks: Subtract your age from 110
              - How much should you be invested in your employer's stock: Keep it below 10%
              - Your life insurance should be enough to replace at least 5 to 10 years of your salary

38. Wealth Is What You Save, Not What You Spend (Jennifer Waters)

39. Anyone in the real world of business and finance knows that lasting success doesn’t just happen—it requires a precise combination of three things: (1) a burning desire and to create wealth (2) the capacity to act quickly when opportunity knocks and (3) the commitment to work hard and master the strategies necessary to take advantage of it when it does. (Jordan Belfort)



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