I caught an ABC news clip about dealing with economic stress. I heard the person being interviewed give this quote – and I had to type it out to share.
“We have gotten into the habit of spending money we haven’t earned, to buy things we don’t need, to impress people that we don’t like. So get rid of that habit.”
- Deepak Chopra
[Via ABC News]
I love that quote!
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Posted: March 18th, 2009 at 9:54 pm
Simple yet full of some much wisdom.
Posted: March 19th, 2009 at 9:26 am
That is an excellent quote, and so to the point. This is why so many people find themselves in bad financial situations, present company included.
Posted: March 19th, 2009 at 10:11 am
I think I saw something similar in a finance book, can’t recall the book – may TMMO by Dave Ramsey and it was a quote of Will Smith. Just slightly different then you quoted.
I like it too and my DS has used it in speeches for school many times.
Posted: March 19th, 2009 at 2:39 pm
I saw him on ABC yesterday, he said that quote in an extremely calm manner, I took that to mean something like give the purchase you are thinking of making 72 hours to simmer in your head. What can and will you live without? That sort of thing. We in America are just beginning to wake up to our “consumerism” illness – and we all suffer from it, collectively. We need to return to the days of old, and look and see what we already have plenty of. I myself have 4 pairs of black pants, different cuts, but 4 pairs. I have 3 pairs of blue jeans. Why? Just don’t need so much duplication, but it is only now that I have begun to come out of my consumerism coma and see that I have plenty.
Posted: March 19th, 2009 at 7:54 pm
Suze Orman has also said a variation of that quote. It doesn’t matter where you hear it though….what matters is if you can follow it!
Posted: March 19th, 2009 at 10:56 pm
I really like this quote. I don’t think I’ve heard it quite like that, I heard the Suze Orman version, but either way, it sends a great message. It really hits home the “keeping up with the Joneses” syndrome that so many people fall into. I might paste this on my myspace and facebook pages, just because it’s a good reality check! Thanks for sharing!
Posted: March 20th, 2009 at 9:23 am
I just wanted to let you know how much I love your blog. I was reading it a few years ago and lost your link. I was so happy to come across it again, this time I will add you to my blog list.
Ginger
Posted: March 20th, 2009 at 9:34 am
Isn’t that the truth!
Any hopes of an extra $199 floating around any time soon?
Posted: March 20th, 2009 at 5:21 pm
That is so true…
I would be happy in a small home but I have this huge one full of junk that I don’t need all to impress guests that come over occasionally that I am not even interested in talking to! It’s so hard to get past this mentality of “keeping up with the Jones’” though…
Posted: March 23rd, 2009 at 12:47 pm
How very true!
Posted: March 25th, 2009 at 1:54 pm
It’s true! Much of the current mess is because of crazy spending and materialism.
Unfortunately, Americans have been really poor about saving money. If we took saving and investing seriously, many of the so-called “structural” economic issues might go away or at least be alleviated.
Having money in the bank engenders confidence and security. Shopping as a form of “recreation” is insanity. And paying more for something “just because” or out of laziness or carelessness is similarly stupid.
I’m not saying that we shouldn’t spend money when necessary but I like to get my money’s worth. I’ll pay a little extra for something of higher quality because the price in the long-run will be less.
I don’t see any reason to pay extra for something when there’s no reason.
I read this article http://www.ajc.com/services/content/printedition/2009/03/05/prepaid0305.html and it showed how no-contract phones can they really save, so why not?
I am rethinking all of my personal and household expenses and this could be a good place to start!