Top 3 Money Quotes to Live By For FI

If you're just starting out on your journey, you may not know the best way to go about achieving financial independence.  You know that you need to save your money and invest but how?  These 3 money quotes will guide you and help keep you on the right path no matter what.

Pursuing anything worthwhile will have its ups and downs and financial independence is no exception.  It can be hard watching your friends party like it's 1999 while you're trying to save.  Talk about mastering the art of delayed gratification.  

The struggle.

That's why every now and then you need a pick-me-up.  Something that will encourage you to stay on the path you have chosen.  

Because, in the end, it'll all be worth it and those partying friends will wish they had done what you did.

Here are my top 3 money quotes to live by.  Not only do they keep me motivated to stay the course for financial independence, but also, they remind me what it takes to get there.

These are definitely money quotes that everyone should follow.  Write them down and keep them close.  In doing so, the path to your financial freedom will always be in your hands.

1. "Do not save what is left after spending but spend what is left after saving."  - Warren Buffet

It is said, when Warren Buffet speaks, you listen.  And with him being in the top ten of the wealthiest men in America, I'd say they're right.  

This quote is in the number one spot because I think it highlights one of the main principles for attaining financial independence.  Pay Yourself First.  

In this day and age we are doing the exact opposite.  We get our pay check, spend our money on eating out, netflix, hulu, and disney+ and, if we are being good, our bills.  Only after all this do we stop and think about saving.

Spending first and saving later is exactly why we think that we don't make enough money to save.  But that just isn't true.  If we would only save first and spend later, we would realize that most of the things we spend our money on we don't need.  

Putting it into Action

Pay yourself first means taking a set amount of money each month and saving and/or investing it.  This can be done in a retirement account, taxable account, or a regular high-yield savings account for an emergency fund. 

Bonus points for setting this up to send the money automatically every month.

Pay Yourself First is putting yourself first.  And that means investing in yourself and your future.  

You should always be investing in yourself.  Cause ain't nobody gonna do it for you.  -And yes I do realize that is not grammatically correct.~

2. "Beware of little expenses; a small leak will sink a great ship."  - Benjamin Franklin

Words of wisdom from good ol' Benjamin Franklin.  If you want to be financially free someday, you need to start paying attention to the little things, the fine print.  Everything counts.

It's so easy to sweep things under the rug, especially things that just cost a few dollars.  A few dollars here, a few dollars there.

Before you know it, you've spent a massive amount of money.  You may find yourself wondering, where did all my money go?

A measly $5 cup of coffee from Starbucks may not seem like much.  But do it everyday and that adds up to $150 a month.  

Forgot you needed cash to top up your metro card? ATM fee, $3.  Didn't bring a lunch? $10.

Rake up enough ATM fees and forgotten lunches and suddenly, you'll be spending an extra $300 a month.  And that's in addition to the $150 coffee binge.

Yikes!

Putting it into Action

Small things add up fast.  Just because they are little don't forget they can still pack a mean punch.  

Make a point to note when little things come up that cost you money.  ATM fees, morning and afternoon cup of joe, late fees, overdraft fees, etc.  

If you begin to notice that it's happening on a regular basis, make plans to stop that habit in its tracks.

If you find that you need your morning coffee fix daily, try making it at home to save yourself a few extra bucks.  Once or twice a week pack a lunch.  

Start carrying cash.  No overdraft fees for me.  Please and thank you! 

By implementing these few tweaks, you could save yourself hundreds of dollars a month.  Dollars that could be better spent buying your freedom.  

So when your friends say, "Oh, it's just a few dollars extra," you say, "that few extra dollars will be coming out of my freedom fund so I think I'll pass."

3. "It's not about how much money you make but how much you keep."  - Robert Kiyosaki

I love this quote.  It's so good because it is sooo true.  

People brag about being a big hotshot in New York making a quarter million dollars a year and yet, amazingly, have nothing to show for it.  

They may be making a quarter mill but why are they in tons of debt?  Why do they still have nothing saved for retirement?

On the path to financial freedom, it doesn't matter how much you make but how much you keep and invest.  

Too many people make tons of money, but because they didn't save and invest as they should've, they have nothing to show for it later down the line when they need it most.

Putting it into Action

This quote reminds us to focus on our savings rate and not our income.  You could be making millions but the real question in terms of achieving financial independence is, how much of it are you saving?  

Taking it one step further, getting a raise is awesome but if that doesn't translate into you saving more, its not helping you.

With every raise, every promotion, every dollar we receive we should be focused on how much of that we are saving.  

By increasing our savings rate, we decrease the time it will take to reach financial independence substantially.  I don't know about you but knocking a few years off my financial freedom timeline sounds pretty sweet to me!

Remember this quote when you start to compare yourself and your salary to others.  It doesn't matter how much they are making.  And daydreaming about what it would be like if you had that kind of money, doesn't help you in the least.  

All that matters in the end is how much you save and invest.  Sure your friend may be making more than you.   You may be saving more than her.  

But really, does it even matter?  Live your life, not someone else's.  

All in All

Whether you are just starting out on your FI journey or one of the OGs, these money quotes will help keep you centered and focused on your goal.  I like to write quotes down and stick them right above my desk so that I see them all day.  But you do you.

Share these money quotes with a friend if you like.  You know the one. The one who is always spending more than she makes, always stopping at Starbucks for her "very necessary" Soy Chai Latte, and always bragging about her latest pay raise.

Wanna check out more money quotes?  Brainy Quote has 1000 of them! Check them out here.