Bold Finances: 10 Powerful Maxims for Prudent Spending

The notion of bold finances can encompass many different things, like budgeting, making smart investment choices and finding ways to minimize risk. But sometimes it can also mean just hunkering down and doing some prudent spending. Because whether you’re a reckless spender or a prudent one, it will, no doubt, affect your life in the long run.

What’s the best way to start–or maintain–prudent spending? Well, step one should be to read and absorb these 10 powerful maxims. After all, what good are words of wisdom if you don’t use them for inspiration?

Maxim #1 — Sir Henry Taylor

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

Henry Taylor was an 18^th century English dramatist and author who nailed one of the best solutions to living prudently without depriving yourself. Many say that it’s best to live within your means—but actually, you should be living a notch (or two!) below your means! And that road leads to Sir Henry Taylor’s idea of “living easily”. Thus, if you’re tempted to spend beyond your monthly pay, remember this one from our list of most powerful mottos to live by.

Maxim #2 — Bruce Lee

“The successful warrior is the average man, with laser-like focus.”

Wait, this motto isn’t only for those who are aspiring to be their best version of themselves physically. If you remain “laser-focused” on your goal of developing healthy financial habits, then you’re on your way to becoming a victorious financial warrior and prudent spender! Now let’s kung-fu those urges to impulse-buy away!

Maxim #3 — Ayn Rand

“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.”

Russian-American writer, Ayn Rand, has simplified a truth that the world has, time-and-again, twisted. You hold the decision to either spend or keep your money in any given situation. It should not control you. Make the right choice and remember that money is just a tool. That’s it.

Maxim #4 — Will Rogers

“The quickest way to double your money is to fold it in half and put it in your back pocket.”

Rogers was an American actor who had these money-wise nuggets of truth. (He also once said: “Too many people spend money they haven’t earned, to buy things they don’t want, to impress people that they don’t like.” And isn’t that what we see nowadays?) Hence, don’t give in to instant gratification or impulsive buying. Quite simply, think twice before handing out your money in exchange for something to satisfy you today. Repeat this motto to yourself and apply it to your everyday life. 

Maxim #5 — Nathan W. Morris

“Every time you borrow money, you’re robbing your future self.”

Not controlling ourselves from spending money is something that we humans struggle with. (Okay, sure — we struggle with having a consistently healthy diet, too.) We have the tendency to shell out money we don’t have on hand or have yet to earn. That’s why banks and credit companies are making tons from their client’s purchases on credit. So, memorize and repeat this battle cry to yourself every day. As a personal finance expert and coach, and author of the highly-recommended book, “Your 33 Day Money Action Plan: How to Get Out of Debt, Save Money, Discover Financial Peace, and Revolutionize Your View of Money Forever”, Nathan W. Morris surely knows what he’s talking about. Remember this motto and don’t make the mistake of robbing your future self by borrowing money to satisfy a temporary shopping itch.

Maxim #6 — Edmund Burke:

“Frugality is founded on the principle that all riches have limits.”

Come on — we all know wallets have bottoms. Recognizing that reality, what choice then will you make when you feel like splurging your money today?

Maxim #7 — James W. Frick:

“Don’t tell me where your priorities are. Show me where you spend your money, and I’ll tell you what they are.”

We spend on things, experiences, or people we feel are important to us. For instance, health buffs are willing to set aside a budget for a gym membership and healthful foods or travel-lovers go out of their way to be sure they have more than what they need for their next out-of-town trip. Perhaps, it’s time to re-evaluate your personal expenses and see in what area of your life you are investing your hard-earned cash so you can then re-align your priorities and budget. 

Maxim #8 — Sidney Carroll:

“A bargain ain’t a bargain unless it’s something you need.”

This one is for the men and women who love bargain hunting. I get it, you know — because I also like to hunt for the best deals in the market as much and as often as I can. But to paraphrase what film and screenwriter, Sidney Carroll said: “It doesn’t matter if that (insert name of the product you’re eyeing here) is on sale for a good or beyond reasonable price—if you don’t need it, you’re wasting your money.“ 

Maxim #9 — Thornton T. Munger:

“The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind.”

Need I say more? 

Maxim #10 — Zig Ziglar:

“Your attitude, not your aptitude, will determine your altitude.”  

No matter how much you know about budgeting or the importance of saving up or being a prudent spender, you won’t get very far if you have a bad attitude about money. So, fix your attitude about saving up and being a prudent spender — I suggest having an “attitude of gratitude”—and you’ll soar in your aim of becoming wiser in your financial expenses. (Here’s a bonus: This motto to live by from world-renowned motivational speaker and business consultant Zig Ziglar can be applied in almost every area of your life you aim at improving!)