Frugality quotes: best frugality quotes

These quotes about frugality may chime with many of you like-minded people:

It is thrifty to prepare today for the wants of tomorrow. –Aesop

By sowing frugality we reap liberty, a golden harvest.  –Agesilaus II

I am strongly drawn to a frugal life and am often oppressively aware that I am engrossing an undue amount of the labour of my fellow men. – Albert Einstein

Money is a guarantee that we may have what we want in the future. Though we need nothing at the moment it insures the possibility of satisfying a new desire when it arises. –Aristotle

Beware of little expenses; a small leak will sink a big ship. – Benjamin Franklin

Be industrious and frugal and you will be rich. –Benjamin Franklin

If you would be wealthy, think of saving as well as getting. –Benjamin Franklin

A penny saved is a penny earned. –Benjamin Franklin

Industry, perseverance and frugality make fortune yield. –Benjamin Franklin

There is no dignity quite so impressive, and no independence quite so important, as living within your means. –Calvin Coolidge

Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery. –Charles Dickens

A small fortune comes via thrift and humility, big fortunes come from the heavens. –Chinese proverb

Frugality includes all the other virtues. –Cicero

He who will not economize will have to agonize. –Confucius

Frugality is founded on the principle that all riches have limits.- Edmund Burke

If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed. –Edmund Burke

Wealth consists in not having great possessions, but in having few wants.  –Epictetus

Frugality is a handsome income. – Desiderius Erasmus

A treasure is to be valued for its own sake and not for what it will buy. –Graham Greene

Money amassed either serves us or rules us. -Horace

Many people take no care of their money till they come nearly to the end of it, and others do just the same with their time. –Johann Wolfgang von Goethe

The worst kind of shame is being ashamed of frugality or poverty. –Titus Livy

Were a man to order his life by the rules of true reason, a frugal substance joined to a contented mind is for him great riches; for never is there any lack of a little. – Lucretius

If all men were rich, all men would be poor. –Mark Twain

Some debts are fun when you are acquiring them, but none are fun when you set about retiring them. –Ogden Nash

I’d like to live as a poor man with lots of money. –Pablo Picasso

Be your money’s master, not its slave. –Publilius Syrus

A man who both spends and saves money is the happiest man, because he has both enjoyments. –Samuel Johnson                  

Frugality may be termed the daughter of Prudence, the sister of Temperance, and the parent of Liberty.  –Samuel Johnson

It frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy. – Groucho Marx

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Bitcoin and cryptocurrencies: why I’m not investing

Surf the net at the moment and you will find plenty of blog posts and articles about Bitcoin and cryptocurrencies. In particular, you will see lots of zealots and enthusiasts flagging it as a way to make a fortune. I’m sure some folk have and will make big money fast. I must admit I’ve been tempted to dabble.

Why is King Cashbags not keen to invest? If there is a chance to become King Kryptobags and make pots of cash, why am I not jumping on the gravy train with the rest of the investors who seem to be on board, and becoming fat cats overnight?

My main reason is the most obvious. I’m still struggling to grasp what it actually is and how it works. Having done a lot of research, the concept is still making my brain ache. And I’ve just read that Warren Buffet has said that Bitcoin and cryptocurrencies “will come to a bad end”. So when you have someone of that stature dissing it it’s hard not to be affected. I mean I get that we are talking about digital currencies which aren’t backed by any country’s central bank or government. And I also get that it means money can be sent and received across the internet even to someone you don’t know or trust. But it’s the buying and selling of Bitcoins that bothers me. How can I trust the seller of the Bitcoin or other crptocurrency that I will be buying for cash in the first place? And all this talk of mining it for free I find really bewildering. Perhaps if I took a degree in computer engineering, I’d have a chance to comprehend it all.

It seems like too much of a gamble. There is a finite supply of these cryptocurrencies. They also appear to have no intrinsic value. My fear is it is just a bunch of speculators following each other like sheep, hoping to buy and sell before the bubble bursts. As far as I can see there is no guarantee it will become widely accepted across the world in the way that regular currencies are. If you ever have any problems, presumably you have no recourse to any regulation or enforcement authorities?

When something sounds this great, it is difficult to believe. Surely currencies are only useful if they are stable, so that you have stable prices? Some commentators are comparing the current situation to Tulip mania. This was a period in the Netherlands in the 1600s where the contract prices of the newly introduced and fashionable tulip bulbs reached crazy levels which were out of all proportion to their value (rare bulbs peaked at 6 times the average salary!). There followed a spectacular crash, making this the earliest example of a speculative bubble.

When we bought our first property, it was just before the most recent financial crash. With a property, history tells us that the price will eventually recover and exceed what it was before the crash. With cryptocurrencies it feels as though that kind of assurance is missing.

I’ve blogged before about not taking my advice too seriously as I’m just an armchair blogger, not a properly qualified expert.  I do recommend that you think carefully about putting any money into Bitcoin or anything like it. You may have a much better knowledge of it than me though. Anyway, we shall see what becomes of it. I’m just glad I have other ways to grow my gold.

I know I probably should do more reading on the subject. I may end up being proved completely wrong in the future. But for now, I won’t touch Bitcoin or any cryptocurrencies.

Have you bought or sold Bitcoin or any cryptocurrencies? I’d be interested in your comments…

King Cryptobags
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