Article Summary
- Saving before spending is crucial for financial stability and ensuring that you have a buffer against unforeseen expenses.
- It’s important to have a good money mindset and make well-considered investments, rather than blindly following the crowd or investing in things you don’t understand.
- Small actions and choices, such as saving a portion of your income, investing wisely, and practicing essentialism, can have a significant impact on your long-term financial well-being.
There are certain rules in personal finance that must be adhered to at all times, without which, using the words of Eris in Sinbad Legend of the Seven Seas, glorious chaos would all but ensue.
Ignoring said rules would mean tearing open your pocket for money to spill away and blow in the wind. And worse, you’d be closing yourself off to precious opportunities that would have yielded you much wealth.
But fret not. Some of our animated friends are here to help you remember. Check out these popular quotes and how they might help you manage your finances better:
The Lion King – Be prepared!
Yes, their teeth and ambitions are bared. Whose? Problems are unforeseen. Be prepared!
You make good money now or maybe just enough to keep you paddling, but do you have plans to buffer against contingencies?
It’s advisable to set aside a portion of your income every month. Ideally, you should cut out the amount you wish to toss into your piggy bank, before you go ahead to budget out the rest for the various expenses you need to cover.
Saving before spending will ensure that you put a cap on your expenditures. Otherwise, there might be nothing left to save by the time you take your hand out of your purse.
Antz – Think for yourself
Are you a crowd follower or a trailblazer? Do you make well-considered investments or do you sink your money into a venture you don’t understand simply because people you know are doing so? Such unusual behaviour is highly prevalent in cryptocurrency and stock investing.
People often neglect to learn about the brand or product they are staking their money on. Not to mention that they rush in and out of the market at very awkward times, thus taking on huge losses.
Many channel their money wisely but lack the patience to let it grow. They eat the fruit long before it has the chance to ripen.
A Bug’s Life – Pretend it’s a seed
Imagine your finances as a seed that must be watered. How do you do that? By constantly honing your skills so as to attract greater remuneration, keeping the right company and weeding out bad influences, and adopting healthy financial management practices such as essentialism (as explained by Greg McKeown in his book), living within your means, and planning for the long term.
The Princess and the Frog – You have to make them happen, it all depends on you
Ever wonder why some people struggle to keep their heads above water, barely managing to foot their monthly bills, and achieving little else at the end of the day?
It’s probably because they lack the internal capacity for creating and maintaining wealth. In other words, their money mindset is wanting. Their prevalent set of beliefs is holding them back.
If you want to live a good life before and after retirement, you have to get rid of the mindsets and habits that are hurting you.
Madagascar – I don’t Know if I’m black with white stripes or white with black stripes
Some people struggle financially because they haven’t identified the behaviours that are costing them money. In order to solve a problem, you first have to acknowledge its existence.
For instance, you might claim that you don’t earn enough, but you spend impulsively, spend much eating out rather than prepare your own meals, and have a closet full of clothes and other items you barely use yet you step out and buy even more.
As a married person, you make more babies than you can comfortably provide for.
Only by identifying your strengths and weaknesses can you be able to make sound choices to improve your financial situation. Don’t be a hundred years old before you begin to figure yourself out.
Mulan: A single grain of rice can tip the scale
You could be making choices that you think do not matter, but which, nevertheless, accumulate over time and have a huge impact on your finances.
This could be saving a portion of your income every month regardless of how much you earn; making a small investment today that could garner huge returns years after; reading an uplifting book each month; staying steadfastly to your goals; teaching your kids self-discipline, and leading by example; taking care of your health; finding ways to cut back on your expenses, and spending wisely every time.
These little things might not seem like a big deal at the time. But they do add up in ways you couldn’t begin to imagine.
