Quotes on Money Management

Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it.

Too many people spend money they haven't earned to buy things they don't want to impress people they don't like.

Never spend your money before you have earned it.

An investment in knowledge pays the best interest.

If money is your hope for independence you will never have it

If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.

Time is what we want most, but what we use worst.

As people strengthened their willpower muscles in one part of their lives—in the gym, or a money management program—that strength spilled over into what they ate or how hard they worked. Once willpower became stronger, it touched everything.

The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken, as a whole is one of hyperinflation, devaluation and monetary chaos.

Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.