Financial Mindset Quotes

Rich people play the money game to win. Poor people play the money game to not lose.

After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!

I'd say it's that most people think that very wealthy people take huge risks and that's why they have huge rewards. But the very best on earth are completely obsessed with not losing money. That sounds overly simplistic, but they know that if you lost 50 percent, it takes 100 percent to get even. Most people don't make that math in their head, so it takes years and years. They are obsessed with not losing money.

Long ago, Ben Graham taught me that "Price is what you pay; value is what you get." Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.

Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.

Warren Buffett has said many times that people either get value investing in five minutes or they won't get it in five years. So, there is something in the human brain, that for some of us, makes all the difference in the world right away and the patience it requires is part of the wiring process.

The coward reckons himself cautious, the miser frugal.

People who say that money isn't the most important thing in the world are usually broke.

As a society we should be encouraging people out of the debt-culture mindset, not promoting it.

Earning a lot of money is not the key to prosperity. How you handle it is.

Men of means look at making money as a game which they love to play.

My mind on my money, my money on my mind.

No man is poor who does not think himself so. But if in a full fortune with impatience he desires more, he proclaims his wants and his beggarly condition.

I've never been poor, only broke. Being poor is a frame of mind. Being broke is only a temporary situation.

Those who never think of money need a great deal of it.

Money comes, money goes. But your story stays with you the rest of your life.

Money isn't everything as long as you have enough.

Decide what your currency is early. Let go of what you will never have. People who do this are happier and sexier.

A man's wealth must be determined by the relation of his desires and expenditures to his income. If he feels rich on ten dollars, and has everything else he desires, he really is rich.

Poor and most middle-class people believe "If I have a lot of money, I could do what I want and I'd be a success." Rich people understand, "If I become a successful person, I will be able to do what I need to do to have what I want, including a lot of money."

People who don't respect money don't have any.

When I looked at my life’s ledger I realized I was a very rich woman. What I was experiencing was merely a temporary cash-flow problem. Finally, I came to an inner awareness that my personal net worth couldn’t possibly be determined by the size of my checking account balance. Neither can yours.

There's not too many people that don't think I'm crazy, for walking away from so much money. I'm at a restaurant with my wife, it's a nice restaurant, we're eating dinner. I look across the room, I say, 'You see this guy over here, across the room? He has $100 million.' And we're eating the same entree. So, OK, fine, I don't have $50 million or whatever it was, but say I have $10 million in the bank. The difference in lifestyle is miniscule.

Rich people take advice from people who are richer than they are. Poor people take advice from their friends, who are just as broke as they are.

Let me put it bluntly: anyone who says that money isn't important doesn't have any! Rich people understand the importance of money and the place it has in our society. On the other hand, poor people validate their financial ineptitude by using irrelevant comparisons. They'll argue, "Well, money isn't important as love." Now, is that comparison dumb or what? What's more important, your arm or your leg? Maybe they're both important.