We all know that budgeting and saving money can be a challenge, with unexpected situations always around the corner.
Whether you want to save for a car, put money away for retirement or if you’re looking to invest, RateCity has found some motivational quotes from experts for every situation.
Save, save, save!
“Beware of little expenses. A small leak will sink a great ship.” – Benjamin Franklin
It is crucial you monitor your spending and budget correctly to stay on track with your savings, as even the smallest of expenses can add up over time.
“Save one-third, live on one-third and give away one-third.” – Angelina Jolie
A savings account offers a higher interest rate and a range of features to help you reach your savings goal, whether you’re saving for a new car, holiday or home loan. It is important to balance your finances and to give back to the community when possible.
Plan for the future
“Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.” – Warren Buffett
There are easy ways you can lose money from your super fund, such as fees, or employers not paying correctly. Make sure you’re keeping a record of all payments and tracking how your superannuation is performing.
“You can be young without money but you can’t be old without it.” – Tennessee Williams
It’s crucial that you make sure your super fund is working hard to ensure you have enough to get you through your retirement years.
Time to invest
“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” – Robert G. Allen
Having a well-managed savings account is one way to ensure you can reach your short or long term financial goals. However, diversifying your income stream through investments such as property, margin loans or trading can help you to generate additional cash flow.
“Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.” – Dave Ramsey
Whether you’re investing in property or shares, creating additional sources of passive income (and spending less than you make) will help give you ‘financial peace’.
But most importantly;
“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.” – Warren Buffett