Sunday, December 2, 2007

Personal Finance Quote of the Week

Quotes are great. They can be insightful and thought provoking. I am a long time subscriber to A.Word.A.Day. I look forward to learning a new word everyday, but my favorite part is the quote at the end of the message. Over the years, I have saved several quotations into a favorites document. Now, once a week I plan to share one of those quotes and relate it to PF, of course.

He will always be a slave who does not know how to live upon a little. -Horace, poet and satirist (65-8 BCE)

This is the cornerstone to successful PF. Living upon little and spending less than you earn. As long as you are overspending, you are in debt to others and you are in their servitude. Think about it. Could you quit your job tomorrow and pursue your dreams? Walk away and not worry about any bills or creditors coming for you? Probably not. We work to pay our debts. Some never pay off those debts, instead they accumulate more and more debt and remain bound and chained to unfulfilling jobs. True freedom is being a master of your own time – being financially able to walk away.

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