Hello World! Welcome Friends! Whether we admit to it publicly or not, we all look up to famous figures and celebrities for a little bit of inspiration from time to time. And it turns out that some of our favorite personalities have some pretty wise –and often quite amusing– takes on money to share with us mere mortals. We take a look at some of the best financial advice and tips from celebs, entrepreneurs, successful businesswomen, writers and more.
Celebs
Lady Gaga:
The provocative pop sensation shared in a Tweet:
“Why do people look at me like I’m crazy when I use coupons at grocery stores or try bargaining at retail outlets, IM FROM NEW YORK WHERE IS THE SALE RACK”
Image source: https://www.flickr.com/photos/128663153@N06/36652207291/
The moral? Don’t let an increase in your income affect those frugal habits, perhaps!
Ed Sheeran:
English singer, songwriter, actor and producer Ed Sheeran clearly understands the very human tendency towards temptation, and actually gives himself a spending allowance!
“If I had all my money in one account I would spend all of it”
Image source: https://www.flickr.com/photos/85049245@N08/8597077505/
Historical figures
Benjamin Franklin:
Founding Father Franklin came from very modest beginnings financially, which is perhaps where this great snippet comes from:
“Beware of little expenses; a small leak will sink a great ship.”
Image source: https://www.flickr.com/photos/25477528@N00/5180644307
This advice is just as useful for individuals as it is for large corporations – unless you are carefully monitoring and controlling those ‘minor’ expenses, they add up alarmingly quickly. He also gave us this little gem:
“An investment in knowledge pays the best interest.”
Women
Princess Diana:
“They say it is better to be poor and happy than rich and miserable, but how about a compromise like moderately rich and just moody?”
Image source: https://www.flickr.com/photos/bobo4890/6094264947
Jennifer Lawrence:
In an open essay she penned in 2015, the Red Sparrow actress and campaigner for gender pay equality in Hollywood opened up about her reluctance to ask for what she was worth:
“I didn’t want to seem ‘difficult’ or ‘spoiled’,” she wrote. “Until I saw the payroll on the Internet and realized every man I was working with definitely didn’t worry about being ‘difficult’ or ‘spoiled’.”
Image source: https://www.flickr.com/photos/53821021@N04/28458020467
Writers
Shakespeare:
Unsurprisingly, the man who changed the way we use the English language forever has some wise and beautiful words on money. Here he makes the point that spending a fortune simply for the sake of keeping up appearances, rather than investing in something with lasting value, is foolish:
“Why so large a cost, having so short a lease, dost thou upon your fading mansion spend?”
And perhaps his most famous quote on money:
“Foul cankering rust the hidden treasure frets,
But gold that’s put to use more gold begets.”
Translation – make your money work for you rather than languor in the bank, or heaven forbid, under the mattress.
Image source: https://www.flickr.com/photos/publicdomainreview/9606524409
Great thinkers and philosophers:
Albert Einstein:
“Money only appeals to selfishness and always irresistibly tempts its owner to abuse it. Can anyone imagine Moses, Jesus or Gandhi with the moneybags of Carnegie?”
Image source: https://www.flickr.com/photos/142748561@N05/33222860570
Like many great historical philosophers, here Einstein warns us not to seek wealth simply for its own sake, and to be aware of its power to corrupt.
Entrepreneurs
Warren Buffet:
With a net worth of $80 billion, you might want to pay attention to this famous investor’s words!
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
“The stock market is designed to transfer money from the active to the patient.”
“Buy a stock the way you would buy a house. Understand and like it such that you’d be content to own it in the absence of any market.”
Image source: https://www.flickr.com/photos/blogbyjdmorris/4238111854
And coming back down to the world of real people a little…
“Don’t be afraid to ask questions and ask for help. Keep asking until you are comfortable with the answers.”
- Kate Healy, Managing Director at Generation Next.
“Understand your own personal balance sheet, making sure you understand what you spend, what you earn and what you set aside to invest in your future.”
- Kathleen McQuiggan, Wealth Adviser at Artemis Financial Advisors.
“Women have to be involved in their own financial future … Be empowered to do something, don’t be overcome by the fear of making the wrong decisions.”
- Jan Dik, financial adviser, Edward Jones Investments.
If you’re not confident about making your own investment decisions, teaming up with an expert wealth management firm such as CoinIT will always be the wisest approach.
Takeaways
Whether from entertainers or entrepreneurs, there are a few common threads running through all of these quotes.
- Knowledge is the most valuable currency
- Ask for advice when you need it
- Continue to spend frugally in the good times, and
- Don’t let acquiring wealth for its own sake be your primary focus.
Regardless of your personal religious inclinations, the Book of Matthew perhaps says it best – “For where your treasure is, there your heart will be also.”
Click the links below for any posts you may have missed!
Learning about Real Estate Investors
Easy Ways to Make your Home Look Expensive
Amazing Recipe for Soft Seedy Sandwich Bread
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Toodles,
[…] World! Welcome Friends! Celebrities often provide wise advice on money. Even William Shakespeare had a few words of wisdom about money: “Foul cankering rust the hidden […]