Money Management Quotes
The importance of personal money management skills is gaining public awareness. A powerful force toward this end are money management quotes by celebrities and authorities in the financial field. These quotes drive home the lack of formal money management education throughout society and the dire need to educate the public on effective money management. The lack of formal education is shocking, especially considering the fundamental importance of personal financial literacy. Prudent money management decisions improve every aspect of life and bad decisions about money compound to dig a deeper financial hole. Money management quotes by powerfully influential people highlight the critical importance of such skills and move policy makers toward action.
Quotes on Money Management Spread Awareness and Cause Positive Change
Money management quotes affirm the need for an intelligent framework to guide investment decisions such that an individual can meet his or her financial goals throughout life. In addition, basic money management lessons, along with real life experiences, validate that managing money poorly can lead to significant financial difficulties. Notable individuals who have invested their own assets, also provide bits of short but powerful advice through their quotes. With the benefits of astute money management becoming apparent, educators are beginning to incorporate lessons on asset management into their curriculum.
Celebrities and Authorities Vocalize the Importance of Money Management Skills
“The single biggest difference between financial success and financial failure is how well you manage your money. It’s simple: to master money, you must manage money.” – T. Harv Eker, author of Secrets of the Millionaire Mind
”It’s not your salary that makes your rich; it’s your spending habits.” – Charles A. Jaffe, Author of four financial books, financial columnist
“There is a difference between broke and being poor. Being broke is a temporary economic condition, but being poor is a disabling frame of mind and a depressed condition of your spirit, and you must vow to never, ever be poor again.” John Hope Bryant, Operation Hope CEO
“It’s pretty much how we get anything added to the curriculum. When parents said children needed to be computer literate, the schools started responding. The same thing is true of basic financial literacy.” – Elizabeth Warren, United States Senator
“Financial literacy is just as important in life as the other basics.” – John W. Rogers, Jr., CEO Ariel Capital Management
Powerful Voices in Support of Learning Money Management
“Being promoted to a top position in your organization, or even being elected to public office, does not suddenly endow you with financial literacy, if you did not acquire and develop it, earlier in your life.” – Strive Masiyiwa, founder of Econet Wireless
“Without financial literacy, divorce rates soar, families rupture, and women stay with abusive men for financial security. A lack of jobs contributes to riots and illegal activity. Name any situation and it goes back to money. We need to focus on poverty eradication.” – John Hope Bryant, CEO of Operation
“The more your money works for you, the less you have to work for money.” – Idowu Koyenikan, Wealth for All: Living a Life of Success at the Edge of Your Ability
“The time you spend monitoring your finances will pay off. You can make real money by cutting expenses and earning more interest on savings and investments. I’d challenge you to find a part-time job where you could potentially earn as much money for just an hour or two of your time. – Laura D. Adams, a.k.a “The Money Girl”, Certified Financial Education Instructor, author, personal finance expert
“Financial literacy is an issue that should command our attention because many Americans are not adequately organizing finances for their education, healthcare and retirement.” – Ron Lewis, former United States Representative
People Today Learn About Money Management from TV, Not from School
12.4% of those in the top quartile of financial knowledge relied on books and newspapers as their primary source of financial knowledge, compared to only 3.9% for those in the lowest quartile of financial competence (National Bureau of Economic Research). http://www.nber.org/papers/w13565.pdf
47% of adults receive their financial knowledge through television, while 19% prefer newspapers (National Bureau of Economic Research). http://www.nber.org/papers/w10787.pdf
Can Quotes on Money Management Cause Behavioral Change?
Money management quotes often provide good advice in a condensed format, but structured money management classes that expound upon the material and situate it in the context of participants’ lives stand a greater chance at prompting actual positive behavioral change for the long term. Money management quotes could be used to emphasize the importance of handling financial affairs and to provide key takeaways once the material has been explored in depth by a certified financial educator.