Ezra Taft Benson Quotes

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.

Our nest eggs, no matter how small, are safe.

It doesn't matter how big of a company you have: I always tell people that you are one job away from being broke. And if you don't live that way, you'll be broke.

Financial security and independence are like a three-legged stool resting on savings, insurance and investments

I want to make as much money as I possibly can so that when my day comes, my mother and sister is fine. My close friends are fine. They don't have to worry about anything ever again.

You have no control over the market. You can't predict where it will go, and you can't bring it back from the depths. What you can do is save more. Make sure you have cash on hand - an emergency fund of at least six months of expenses.

Everything we earn we need as a reserve.

Much of the traditional thinking about cash is well intentioned but unrealistic. Should you have six months of living expenses in the bank for emergencies? Sure. Do you? Probably not.

It may take you months or even a few years to build up an adequate emergency savings fund. That's okay.

Because of what I've saved, I don't really have a lot of worries about money.

Smart financial planning - such as budgeting, saving for emergencies, and preparing for retirement - can help households enjoy better lives while weathering financial shocks. Financial education can play a key role in getting to these outcomes.

I don't know if the money I've earned is going to need to last me for the next few weeks or the rest of my life.

The best advice that I can offer is that being proactive and a careful planner is key. Think about the major things that could shake up your financial life, and I'll bet there are some great ways to protect yourself.

No one anticipates divorce when they're exchanging vows, and it can be devastating emotionally and financially. To ease the financial side of the blow, you need to maintain your financial identity in your relationship. That means having your own credit history - you need your own credit card - and your own savings and retirement accounts.

Youth should be a savings bank.

Make it a priority to have at least eight months of living costs set aside in a federally insured bank or credit union account.

I have no proper money to invest!

I realize what it means to be financially comfortable, and I want to be that. But I'm lucky enough to be in that position. And I'm also careful. I save 38 percent of my earnings after expenses, before taxes.

My family deals with those risks. The best I can do is talk to them about some of those risks. I'm not incredibly specific with them, especially with my kids.

There are two things that you need to save for. First, you need an emergency cushion of no fewer than six months of living expenses. This needs to be cash in a liquid account where you can get at it in - yes - an emergency if you need it. In other words, money markets, not CDs. You also need to save for your future: that means retirement.

Nothing confers freedom like a buck in the bank.

it is easier … to stave off adversity than to preserve prosperity.

First, you should take money and have plenty of money fueling your tank. But money becomes dangerous if you assume it's going to keep coming. Make sure you can get your burn rate to a sustainable level if you hit the brakes hard, within 90 days.

This is always one of my big pet peeves is that 65% of NBA players, three years out of the NBA, are broke. I mean, so, maybe maturing a little more on the front end and getting an education might serve you well down the road.

You can survive your income falling if it's not dramatic. Your income can decrease for a long time before you start living beyond your means.