Sometimes, when it comes to something, especially money, all you need is a little inspiration to motivate you. If you want to start building real wealth, you need to change your mindset. And the best way to learn the right money mindset is to watch other people who are great at making, earning, investing and saving money.
Here are some of my favorite money mindset quotes. Each of them means something to me and I hope you can take inspiration from them too.
#1. The Importance of Getting Started
“The best time to plant a tree was 20 years ago. The next best time to plant a tree is today.” -Chinese Proverb
This quote is great because it highlights one of the biggest mindset problems we all face. I should have done something different in the past and everything would be fine today. Well, the past cannot be changed. All you can do is change the future. And for that you need to start now.
This quote always reminds me of the importance of moving forward in my financial life. Don’t put off why you have to do something today. Remember that the next time you regret something.
#2. Know your worth
“You don’t get paid by the hour. You get paid by the value you bring to your time.” – Jim Rohn
Working for both my employer and myself made me really focus on what value I bring and how I should be paid. No words are truer than this. You can get paid whenever you come to work. However, the salary does not increase and there is a risk of losing that salary in the future.
Alternatively, you can focus on adding value, using your own ideas and skills, and being the best at what you do. It doesn’t matter if you’re flipping burgers at McDonald’s or running a company. It’s all about the value you bring.
#3. Go out and make money
“Never beg for what you have the power to acquire.” – Cervantes
I can’t stand the rights, and neither can you. Everyone has the power to go out and earn an income. You can go find a job, or you can go out and side hustle to make more money. I strongly believe everyone has the potential to earn at least $100 extra monthly.
But too many people are begging for benefits, begging for money, begging for student loan forgiveness programs. Instead of begging, change the way you think about money and start making it.
#4. Real mindset when investing
“Buy assuming the market closes the next day and won’t reopen for 10 years.” – Warren Buffett
Too many people are afraid to invest in the stock market for fear of losing money. But the statistical truth is that you are very unlikely to lose all of your investment. If you approach investing with this mindset like Warren Buffett, you will find that you are investing for the long term.
So when you start investing, create for yourself a money mindset that emphasizes the long-term potential of your investment and focus on it.
Related:Check out Warren Buffett’s best investment tips here.
#5. The truth about what you own
“Know what you own and why you own it.” – Peter Lynch
Peter Lynch said about investing, and it applies to all areas of financial life. Whether it’s your home, your car, or your investments, you need to know exactly what you own and be able to explain to others why you own it.
For example, I run an online business, so I own and type on this computer. I bought this because I needed a USB connection for anything I plugged into it. Conversely, I had an old Canon digital camera in the cabinet. It hadn’t been used in years and was dusty. I couldn’t explain why I still own it, so I put it up for sale on eBay.
Always keep this mindset in mind as you shop for life.
#6. The unexpected always happens
“Expect the best, prepare for the worst. Make the most of what’s to come.” – Zig Ziggler
When it comes to money, the unexpected always happens. are you OK. The goal is simply to prepare for the unexpected financial emergency and hopefully make the most of it.
One of my favorite stories goes something like this: Pat Flynn started an online business. When he was laid off from his job, he had already started his side business and main site, his Smart Passive Income. He didn’t want to quit his job, so he admits he tried working for other companies as well.
But in the end, he used that misfortune to start a business. Six years later, he’s making six-figure profits a month. Unexpected, yes. But he was ready and did it well.
#7.no shortcuts
“Most people miss their chances because it looks like work in overalls.” -Thomas Edison
There are many variations of this word that you’ve probably heard. “Luck favors the prepared, luck favors the prepared mind.” Recently, I’ve seen a lot of memes on Facebook and Instagram that simply say “”.I do the work”.Why do so many people pay attention to this subject?
Because there are no shortcuts. You won’t be successful overnight. Most overnight successes come from people who have worked for years and are ready for the opportunities that come their way.
#8. Control your money
“Money is a tool. Money can get you where you want it to be, but it doesn’t replace the driver.” – Ayn Rand
This is a reminder that money isn’t everything. It’s just a tool, a tool to buy things. Multiple studies have been done showing that only a certain level of income is necessary (So $75,000 a year) feeling happy. Beyond that, the extra money doesn’t do much for you.
But what money gives you is the ability to buy time. You can buy time by paying people to do the work so you don’t have to. You can buy time in the form of experiences such as travel. But all this doesn’t matter if you don’t set a money goal and move it towards it.
#9. Focus on what you value
“Don’t tell me what you value, show me your budget and I’ll tell you what you value.” – Joe Biden
The term is attributed to Joe Biden, but I know variations of the term have been said over the years. He was talking about federal budgets, but this estimate is also very useful for personal budgets.
I love this money mindset quote because it makes a lot of people think about what they really value. In fact, our good friend Paula Pant recently joined Of this same argument, she adds her own variation:You can afford everything, but you can’t afford everything.
So if you want to save for retirement, do it. But don’t tell me it’s impossible because I eat out every night. If you want to travel more, do it. But don’t tell me you can’t do it because you buy all the premium channels and spend $200 a month on cable TV.
You can focus on what you care about and the value will be reflected in how you spend your money. Going back to the quote above, you are the driver and you decide where to spend your money.
#Ten.A final reminder about money thinking
“Too many people spend money to buy things they don’t want or to impress people they don’t like.” -Will Rogers
Finally, I think this will be a great reminder about setting the best money mindset. why spend money what are you buying? Are you going to “catch up with the Joneses”?
Don’t be one of those people that Will Rogers talks about. Please be better than that. Establish a smart money mindset.
Which money mindset quote inspires you?
Editor: Colin Graves
Reviewed by: Chris Muller
The post of 10 Money Mindset Quotes to Inspire Real Wealth first appeared on The College Investor.