quotes tagged with 'finances' 
Not everyone is married to a financial twin, and that’s not necessarily a problem. There are several ways that you and your significant other can become more compatible, and ultimately more prosperous, when it comes to money...
“In my ideal plan for couples, they would have a meeting every week on their finances,” said Karen Altfest, a financial planner who runs the New York firm L. J. Altfest & Company, with her husband, Lewis. “That way, they are in sync with each other’s goals.”
INVEST IN YOUR MARRIAGE Spend it — time and money — together. Go on dates. “What that does is enliven the marital foundation,” said Gary S. Shunk, a Chicago therapist who specializes in wealth issues. “It’s a kind of investment into the heart and soul of the relationship.”
Think of it as dollar-cost averaging your marriage, where you make small investments over time. If you wait until retirement, it could be too late.
Melanie Schnoll-Begun, a managing director in the Citigroup Family Office, worked with a couple that waited too long. The husband had amassed great wealth for the family, and his wife kept a beautiful home. But once the husband retired, “they found out that over the years they grew so far apart that they didn’t have enough in common,” she said.
“They had this magnificent wealth, and it was the building of this wealth that ultimately led to their divorce.”
MAINTAIN SOME INDEPENDENCE Pooling resources is important, but so is maintaining a degree of financial independence. Carve out some money for both partners to spend on things that make them happy. And when paring back, it’s essential that each person make sacrifices.
RUN A HOME LIKE A BUSINESS Make a budget and keep track of earnings, expenses and debts. And structure your business as a partnership; when it comes to making big financial decisions and setting goals, do it together. “When they are making the decisions together, they really have ownership of those decisions and any results of those decisions,” said Mary Ann Sisco, national wealth adviser at JPMorgan's private wealth management division. “Even if you have negative results, you tend to weather the storm better.”
Learning to think like a wise steward as opposed to thinking like a selfish owner is a significant step toward understanding how liabilities can be used productively. Since nothing can ever be technically yours, the goal becomes to make the best use of every resource you have access to, because you understand that you will be held accountable for your productivity, or lack thereof.
Author: Garrett B. Gunderson, Source: Killing Sacred CowsSaved by rpage in debt economics finances 2 years ago[save this] [permalink]Consider this deeply: if it’s true that debt is any form of borrowing, and it’s true that debt is evil, then why do we say one thing and do another every day of our lives? In other words, why do we try to stay out of debt ourselves, yet then put money in banks and other financial institutions (i.e. lend them our money), thereby putting the financial institutions in debt? Isn’t that the epitome of hypocrisy—having others do things for us that we think are evil? If it’s true that any form of borrowing is debt, and that it is evil, then to stay true to ourselves and keep our integrity, none of us should practice any form of it, neither by borrowing ourselves nor by lending money to other people and/or institutions . . .
(continued later on)
I want to be very clear about this—I’m not advising people to go out and buy houses, cars, or anything else just to be “abundant.” I’m saying that your paradigm makes all the difference between poverty and mediocrity or wealth, and that amazing things happen when we break through scarcity-induced myths and enter the world of true and responsible abundance. My own life is a witness to the fact that when we switch from ridding ourselves of liabilities and focus instead on productivity, our entire outlook and results change dramatically for the better.
Author: Garrett B. Gunderson, Source: Killing Sacred CowsSaved by rpage in debt economics finances 2 years ago[save this] [permalink]Remember this: debt is a form of bondage. It is a financial termite. When we make purchases on credit, they give us only an illusion of prosperity. We think we own things, but the reality is, our things own us.
Some debt—such as for a modest home, expenses for education, perhaps for a needed first car—may be necessary. But never should we enter into financial bondage through consumer debt without carefully weighing the costs.
Author: Joseph B. Wirthlin, Source: http://lds.org/portal/site/LDSOrg/menuitem.b12f9d18fae655bb690...Saved by cboyack in wealth prosperity economy debt bondage finances 2 years ago[save this] [permalink]Today, the average man can barely tell the difference between a fact and a campaign slogan. And so the new ersatz knowledge leads him into error. Modern politics turns the voter into an enabling dupe...makes the amateur investor a chump for Wall Street...and sends the poor, hapless foot-soldier off on a fool’s errand where he can only get himself killed.
Civilization, central banking and politics make monkeys of us all; we’re not equipped to deal with them. Like a hairdresser who shows up to work with a wrench in his hand and liquor on his breath, we are bound to make a mess of things.
Author: Bill Bonner, Source: http://www.lewrockwell.com/bonner/bonner318.htmlSaved by cboyack in politics truth civilization wisdom knowledge economy fact error bank finances 2 years ago[save this] [permalink]It is a rule of our financial and economic life in all the world that interest is to be paid on borrowed money. May I say something about interest? Interest never sleeps nor sickens nor dies; it never goes to the hospital; it works on Sundays and holidays; it never takes a vacation; it never visits or travels; it takes no pleasure; it is never laid off work nor discharged from employment; it never works on reduced hours; . . . Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it; you cannot dismiss it; it yields neither to entreaties, demands, or orders, and whenever you get in its way or cross its course or fail to meet its demands, it crushes you.
Author: J. Reuben Clark, Jr., Source: Conference Report, April 1938Saved by cboyack in debt economics interest finances 2 years ago[save this] [permalink]Can't find a good quote on finances? Try searching ScriptureTag!