Money Wisdom: Breaking Down 5 Quotes About Money
Money wisdom comes in many forms. From the advice of a mentor to a good book, you can glean money wisdom that helps you improve your business finances, personal finances, and even your lifestyle. These five great quotes about money offer plenty of money wisdom to enjoy. Follow along to learn more and for insights in applying these quotes to your business.
“Making money is a hobby that will complement any other hobbies you have, beautifully.” Scott Alexander
I work for myself at home full-time as a freelancer, a wonderful lifestyle that I highly encourage. But that lucrative career path didn’t happen accidentally or overnight. In fact, I used to joke with friends that my hobby was starting businesses. How fitting to find a quote about making money as a hobby.
If you persistently work to make income-focused projects a priority, you should eventually find a successful result. From there, just keep repeating what is working well and you’ll be self-employed before you know it.
“People who get trapped in the tunnel vision of making money think that is all there is to life.” Felix Dennis
While it is important to stay focused on your career and business, it is also important to not lose focus on what is most important in life. Entrepreneurship is a great thrill, but the constant demands of starting and running businesses can take you away from family, friends, and other priorities.
While you should certainly work hard on your business endeavors, you shouldn’t forget about why you work hard on your business. If you work hard for the right reasons, your long-term results should be a wonderful lifestyle improvement.
“Making money is easy. It is. The difficult thing in life is not making it, it’s keeping it.” John McAfee
John McAfee, the founder of the well known McAfee computer security software, offers a huge pearl of wisdom here. Many Americans earn plenty of money to live a great lifestyle but don’t save enough for their long-term goals. With money, you always have to save and pay yourself first. If you don’t, you could end up blowing through your money as fast, or faster, than you earn it.
Budgeting is a core personal finance skill and a vital business management skill. If you can grow revenue while never losing track of your budget, you are putting yourself on a path to prosperity.
“Formal education will make you a living; self-education will make you a fortune.” – Jim Rohn
A quality education is an important foundation for lifetime success. A good degree and work ethic can land you a stable job at a good company that can support and sustain you and your family for a lifetime. But every entrepreneur knows that when you have a boss, you work to make someone else rich.
When you take your education into your own hands, you can go far beyond the classroom. For example, I used online courses to learn website development and earned thousands of dollars as a paid web developer. I never learned a line of code in a classroom. Never stop learning. If your education becomes idle, so does your earning ability.
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas Edison
Everyone gets excited at the idea of “passive income,” but what does that really take? In most cases, passive income requires owning a valuable asset. That is a property, an investment portfolio, or a business in many cases. All three of those require a lot of equity to turn into something that can pay you a passive income.
If you can’t afford to buy real estate or a huge stock portfolio, a business may be your best option for passive income. But know that you have to work very hard up front to earn passive income later. If it were easy to just start a business so you can go on vacation all the time and drink margaritas at the beach, everyone would do it!
“Don’t let money run your life, let money help you run your life better.” – John Rampton, CEO of Due
For a bonus sixth quote, we look to our own Due CEO John Rampton. Whenever you do any money related work, find the right balance between entrepreneurship and life to help you reach your financial goals and live your best life. That is what being your own boss is all about.