Money Management Quotes

Your trading needs to boil down to rules, money management, and that is it.

Now more than ever is the time to really work on learning a money management system that can work, no matter how low things seem right now.

The general systems of money management [today] require people to pretend to do something they can't do and like something they don't. It's a terrible way to spend your life, but it's very well paid.

The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.

Money management has been a profession involving a lot of fakery - people saying they can beat the market, and they really can't.

As people strengthened their willpower muscles in one part of their lives—in the gym, or a money management program—that strength spilled over into what they ate or how hard they worked. Once willpower became stronger, it touched everything.

Good money management alone isn't going to increase your edge at all. If your system isn't any good, you're still going to lose money, no matter how effective your money management rules are. But if you have an approach that makes money, then money management can make the difference between success and failure.

The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken, as a whole is one of hyperinflation, devaluation and monetary chaos.

Ain't only three things to gambling: knowing the 60-40 end of the proposition, money management, and knowing yourself.

I cannot afford to waste my time making money

It's not your salary that makes you rich, it's your spending habits.

Money management is the only strategy to survive in this crazy, stupid and doped financial world market.

When I first got money, I went through it like everybody else, because I didn't know. But, right now, I've educated myself and placed smart people around me. I surrounded myself with people who not only are intelligent and effective about finances, taxes, and money management, but they (also) love me.

Money... is like a beautiful thoroughbred horse - very powerful & always in action, but unless this horse is trained when very young, it will be an out-of-control & dangerous animal when it grows to maturity.

If you don't have the money management skills yet, using a debit card will ensure you don't overspend and rack up debt on a credit card.

I'll keep reducing my trading size as long as I'm losing My money management techniques are extremely conservative. I never risk anything approaching the total amount of money in my account, let alone my total funds.

If you have an approach that makes money, then money management can make the difference between success and failure... ... I try to be conservative in my risk management. I want to make sure I'll be around to play tomorrow. Risk control is essential.

Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it.

The way in which we manage the business of getting and spending is closely tied to our personal philosophy of living. We begin to develop this philosophy long before we have our first dollar to spend; and unless we are thinking people, our attitude toward money management may continue through the years to be tinged with the ignorance and innocence of childhood.

Harvard and Yale concentrated with venture capitalists that got the best calls and brainpower. Very few firms made most of the money, and they made it in just a few periods. Everyone else returned between mediocre and lousy. When returns happened, envy rippled through institutional money management. The amount invested in venture capital went up 10 times post-1999. That later money was lost very quickly. It will happen again. I don't know anyone who successfully resists this stuff. It becomes a new orthodoxy.

Many respected economists and statesmen believe our national debt is neither unwieldy nor a dangerous burden on the country. The trouble is that a vast majority of the American people think otherwise.... It violates basic American ideas of thrift and money management. These strong public feelings cannot be ignored forever.

Sports betting is all about money management, so the most money won on one event is not the most important thing

Time is what we want most, but what we use worst.

Never spend your money before you have earned it.

Time is more valuable than money. You can get more money, but you cannot get more time.

Money often costs too much.

Beware of little expenses. A small leak will sink a great ship.

Many people take no care of their money till they come nearly to the end of it, and others do just the same with their time.

Too many people spend money they haven't earned to buy things they don't want to impress people they don't like.

Regardless of what we think we know and should happen the reality is that a lot of stock action is random. Therefore, money management is crucial if you want to be successful as a trader. To me, it`s the cornerstone of both making a living at trading and building wealth.

I regard the amount of brainpower going into money management as a national scandal. When some idiot would get rich, they'd say, 'Well, old Charlie was out in the field playing the big brass tuba on the day it rained gold.' A lot of people have become rich lately who were playing the tuba on the day it rained gold.

The general systems of money management today require people to pretend to do something they can't do and like something they don't. It's a funny business because on a net basis, the whole investment management business together gives no value added to all buyers combined. That's the way it has to work. Mutual funds charge two percent per year and then brokers switch people between funds, costing another three to four percentage points. The poor guy in the general public is getting a terrible product from the professionals.

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.

A bank is a place that will lend you money if you can prove that you don't need it.

Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.

Be you in what line of life you may, it will be amongst your misfortunes if you have not time properly to attend to [money management]; for. ... want of attention to pecuniary matters ... has impeded the progress of science and of genius itself.

The amount of money you have has got nothing to do with what you earn.. people earning a million dollars a year can have no money and.. People earning $35,000 a year can be quite well off. It's not what you earn, it's what you spend.

The art of living easily as to money is to pitch your scale of living one degree below your means.

It's natural that you'd have more brains going into money management. There are so many huge incomes in money management and investment banking - it's like ants to sugar. There are huge incentives for a man to take up money management as opposed to, say, physics, and it's a lot easier.

Wealth consists not in having great possessions, but in having few wants.

It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay, all trading, etc. Nobody else has used figures that high, but that's my guess. Worst of all, the people doing this are among the best and the brightest. Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization.

If you think nobody cares if you're alive, try missing a couple of car payments.

My style is basically trend following, with some special pattern recognition and money management algorithms.

I don't know about you, but where I went to school, Money Management 101 wasn't offered. Instead we learned about the War of 1812, which of course is something I use every single day.

How important are money management and finances in marriage and family affairs? Tremendously. The American Bar Association recently indicated that 89 percent of all divorces could be traced to quarrels and accusations over money. Another study estimated that 75 percent of all divorces result from clashes over finances. Some professional counselors indicated that four out of every five families wrestle with serious money problems.

An investment in knowledge pays the best interest.

If money is your hope for independence you will never have it

If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.