Many people are in the dark when it comes to money, and I'm going to turn on the lights.
Suze OrmanRead
If you make time each month to give your money some attention, you'll start the next year in fabulous financial shape.
Interpretation
Regularly reviewing your finances leads to better financial health over time.
This quote emphasizes the importance of proactive financial management. By dedicating time each month to assess your finances, you cultivate awareness and control over your money, ultimately resulting in improved financial stability and readiness for the future.
In practice
In a financial workshop, I shared the quote to encourage participants to regularly check their expenses.
Many people are in the dark when it comes to money, and I'm going to turn on the lights.
Bad debt is sacrificing your future day needs for your present day desires.
We are all powerless as children, and money looms so powerfully... we don't grow up to claim our financial power until we look money directly in the eye, face our fears, and claim that power back.
Owning a home is a keystone of wealth - both financial affluence and emotional security.
Believing you are worthy of love means that you believe I deserve to be treated well - with respect and dignity. I deserve to be cherished and adored by someone. I am worthy of an intimate and fulfilling relationship. I won't settle for less than I deserve. I will do whatever it takes to create that for myself.
So many financial dreams are thwarted by the failure to act upon good intentions.
It is absurd to think that the general public can ever make money out of market forecasts.
There is a burden of care in getting riches; fear in keeping them; temptation in using them; guilt in abusing them; sorrow in losing them; and a burden of account at last to be given concerning them.
People come in. They are too gung ho. They invest too much money in things they don't know. They lose it and then they clam up and stop investing. Then they miss the actual boom. That's the nature of the market.
Ben's Mr. Market allegory may seem out-of-date in today's investment world, in which most professionals and academicians talk of efficient markets, dynamic hedging and betas. Their interest in such matters is understandable, since techniques shrouded in mystery clearly have value to the purveyor of investment advice. After all, what witch doctor has ever achieved fame and fortune by simply advising 'Take two aspirins'?
When I hear complaints about less liquidity, remember there is such a thing as too much liquidity.
Eliminate emotion from your investment program.
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