Quote of the Day
Good health is not something we can buy. However, it can be an extremely valuable savings account.
Anne Wilson Schaef
Cash - in savings accounts, short-term CDs or money market deposits - is great for an emergency fund. But to fulfill a long-term investment goal like funding your retirement, consider buying stocks. The more distant your financial target, the longer inflation will gnaw at the purchasing power of your money.
Hyperinflation can take virtually your entire life's savings, without the government having to bother raising the official tax rate at all.
Economics is all about consumption. People either spend money now or they use financial instruments - like bonds, stocks and savings accounts - so they can spend more later.
Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it.
If you wait to see how much money you have left at the end of the month to put toward savings, the answer may be zero. So, set up an automated monthly transfer from your checking to savings account. Once you lock into that commitment, you'll be forced to scale back spending to make ends meet.
I've been to enough other countries in the world to know what happens when you have socialized single-payer health care. It works. People don't get sick as much. They don't lose their life savings with a catastrophic illness like cancer or AIDS.
Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker.
We can't get to the $4 trillion in savings that we need by just cutting the 12 percent of the budget that pays for things like medical research and education funding and food inspectors and the weather service. And we can't just do it by making seniors pay more for Medicare.
Do not leave yourself or your family unprotected against financial storms... Build up savings.
Ezra Taft Benson
During the Enron debacle, it was workers who took the pounding, not bankers. Not only did Enron employees lose their jobs, many lost their retirement savings. That's because they were at the bottom of the investing food chain.
The president has been a true friend of the ag industry, because he continues to invest large amounts of money at a time when savings is really the goal of the federal government to deal with the deficit.
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
Wealth can only be accumulated by the earnings of industry and the savings of frugality.
Savings is an important tool because it can help the poor deal with the ups and downs of irregular earnings and help them build reserves for a rainy day.
Sylvia Mathews Burwell
The way to build your savings is by spending less each month.
People clinging to job security, savings, retirement plans, and other relics will be the ones financially-ravaged from 2010-2020, the most volatile world-changing decade in history.
Plan to build up your food supply just as you would a savings account. Save a little for storage each paycheck. Can or bottle fruit and vegetables from your gardens and orchards. Learn how to preserve food through drying and possibly freezing. Make your storage a part of your budget.
Ezra Taft Benson
The summer of 1991, I took $2,000 of my savings and a desktop program, and I asked my friends to write 800 words about something they cared about. I got eight or nine articles and put them together. It was no frills, black and white, no graphics. I printed them out and just dumped piles around D.C.
Yes, your kids should go to school. No, you shouldn't bankroll their degree whatever the cost. You've spent your life creating a sound financial plan; don't upend it by suspending your retirement savings or taking out a home equity line of credit to pay for a pricey college.
A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.
Don't forget it's daylight savings time. You spring forward, then you fall back. It's like Robert Downey Jr. getting out of bed.
I'm thankful for the three ounce Ziploc bag, so that I have somewhere to put my savings.
Never invest emergency savings in the stock market.
Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings.
A. P. J. Abdul Kalam
Leonardo da Vinci
Martin Luther King, Jr.
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