At the height of financial crisis and foreseeable economic slowdown, I’ve decided to lighten the mood for readers by reviewing some economic and money quotes this week.
Now that the house has passed the bailout plan, hopefully it is as Bo Bennet, millionaire and motivational speaker once said, “As sure as the spring will follow the winter, prosperity and economic growth will follow recession.”
Throughout life we hear common money quotes repeated, the most famous being Benjamin Franklin’s, “Time is money,” and “A penny saved is a penny earned.”
Franklin also has some other great ones, “He that goes a borrowing, goes a sorrowing,” and “If you would know the value of money, go and try to borrow some” (which ties into our current financial crisis).
One of my favorites is less common but very sage, “Beware of little expenses. A small leak will sink a great ship.”
Another of Franklin’s quotes that all college students hope proves true is “An investment in knowledge pays the best interest.”
Sometimes money quotes lead to interesting changes and imitations. We all are cognizant of the Bible’s quote, “Money is the root of all evil.” But how about Irish playwright George Bernard Shaw’s quote, “Lack of money is the root of all evil,” or novelist Samuel Butler who said, “Want of money is the root of all evil.” The real question is what is the root of all money?
Perhaps the most famous proverb is, “Money can’t buy you happiness.”
An American proverb slightly modified states, “Money can’t buy you happiness but it will go a long way with helping you out.”
English novelist Jane Austen said, “A large income is the best recipe for happiness I ever heard of.”
Another classic, from early 1900’s actress Mae West is, “I’ve been rich and I’ve been poor. Believe me, rich is better.”
My personal favorite, an anonymous proverb, “All I ask is a chance to prove that money can’t make me happy.”
Everyone has their own preconceptions and thoughts, but the problem is addressed in the famous Lombardi quote, “Money isn’t everything, it’s the only thing.” Every day we are faced with monetary decisions, and knowing a few thrifty and fun quotes can actually serve a valuable lesson.
Even after hundreds of years, many of these famous adages remain and their history proves their significance.
Saving an earned penny, or knowing that if you, “go a borrowing, you go a sorrowing,” as simple as it sounds, could have helped prevent this whole bailout and financial mess.
Philosopher George Santayana said it best, “Those who forget the past are doomed to repeat it.”
If we lose sight of these valuable and easy lessons, we will continue to see severe economic downturns and historic government intervention as we see today.
I am sure if you ask any older person they will agree with Ralph Waldo Emerson’s quote, “Can anybody remember when the times were not hard and money not scarce?”
Knowledge from a more experienced point of view is very valuable.
Not panicking and maintaining a reasonable outlook are very important for our future.
If capitalism survived the great depression, I am sure it can survive the bailout plan and financial crisis.
When financial jargon gets too intense or difficult to understand, sometimes it is fun to throw out a nice, confusing quote like, “Money often costs too much,” (Emerson) just to change it up or catch someone off guard.
Have any good money quotes? E-mail Alex at boergeas@uc.edu.
