Friday, February 15, 2008

Quote of the Day: Marlene Dietrich on Money & Wealth

"There is a gigantic difference between earning a great deal of money and being rich."
--Marlene Dietrich
(from the book: Marlene Dietrich's ABC)

What this means to me:

Save Your Money: There are lots of people who earn high wages and still live paycheck to paycheck. (The face in the mirror nods.) But earning lots of money means nada if we also spend lots of money. Bottom Line: Savings should exceed spending.)

Money isn't everything: Real wealthy is being happy with what you have. And if I'm not happy with what I have or with myself, a few extra zeroes are not going to make me happier or wealthier.

  • Use money wisely: How are my earnings invested, employed and spent? Am I making smart choices or am I wasting time, moments and resources?

  • Don't work poor: Am I really getting paid for the value of my time? Working 80 hours a week for a high salary can leave me feeling just as poor as working overtime in a minimum wage job if I have a low quality of life.

  • Put money to work: Find passive income, save more and invest more in order to have more time (and peace of mind) to enjoy a richer life.

  • View employment history: Am I in the right job? Do I need to make a career change? Am I working up to my potential?

Sharon Harvey Rosenberg is the author of The Frugal Duchess of South Beach: How to Live Well and Save Money... Anywhere!, which will be published in June of 2008 by DPL Press

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