89. Saving more, spending less, waste not, want not—these are the keys to overcome a global economic crisis
導向成功的金玉良言 --- 成功秘碼39條
To overcome a global economic crisis, citizens around the world should learn to save more and borrow less—waste not, want not.
If the average consumer feels too financially insecure to spend a reasonable amount of their earnings, the economy simply cannot recover.
To overcome the current economic recession, we need to have practicality, originality, rationality, flexibility and wisdom.
With the stock market in decline, it’s important for investors to clearly identify the market trend and look for new investment opportunities, know when to bail ship and try to be flexible and daring while remaining level-headed. Only then can one hope to emerge from this crisis a winner.
「面對股市下跌，投資人更需要務實( 認清市場走向)、創新(另找投資機會)、彈性(不死守賠錢股)、靈活( 隨機應變)、有理性( 不衝動、不跟風、不貪)、有智慧(藝高人膽大)，這樣才可以險中求勝。」
“No pain no gain” and “no risk no rewards” are things to keep in mind in the stock market. The money you lose is just tuition in a never-ending lesson, and the money you make generates taxes to benefit society and yourself.
Private investors are in effect only sowing the seeds in the stock market; it’s the large cap investors and brokers who reap the harvest.
The stock market’s redistribution of capital only achieves one thing: helping the rich get richer, while bleeding the poor dry.
It’s a tragic irony how the foolish and poor are always quick to offer up their hard-earned money to add to the riches of the smart and wealthy.
Living by the rise and fall of the stock market is a high-stake game; it can never guarantee high yields, only high risk and huge loss.
How much you spend should be proportional to how much you earn; the amount of your savings dictates how much you can spare for investments. Never allow yourself to overspend or overinvest.
Don’t be faux riche: before investing in anything, you must understand the relationship between expenses and income, as well as that between savings and investments.
A person’s confidence is directly proportional to how much he makes and how much savings he has.
Your saving is more important than your income. Those without savings shouldn’t even consider investing.
Investing with borrowed money is more than risky; it’s financial suicide.
Pay for your expenses and investments with money you save, not money you borrow.
Using your own savings for your expenses is different from using borrowed money, in that you don’t need to pay it back with interest.
Taking on new debts to pay off old ones is meaningless in terms of improving your financial balance.
The way to salvage the U.S. economy is not to lower interest rates, but to increase the savings of the average American.
A country that doesn’t know how to tighten its expenditures in hard times and only rely on issuing bonds alone will only find itself further in debt.
The domestic financial predicament that the United States is currently facing stems from its citizens’ lack of savings and wasteful lifestyle.
Personal savings is very important, not only for the unpredictable things in life. It can also be used for investments and to strengthen our national economy.
Insufficient savings, often coupled with debts passing from one generation onto another, remains one of the main causes for the current state of American economy, which is unlikely to recover unless the general public learns to start saving money.
A nation consumed with the stock market is a nation corrupted by greed, and will inevitably suffer for it.
Wall Street is a spawning ground for filthy greed. No one can emerge from it untainted.
Too many were driven by their greed into Wall Street, bent on making some easy money, yet end up losing everything.
Wall Street was intended to be a hub where the financially-capable pool their wealth and resources to help companies raise capital and stimulate economic growth, yet was corrupted and twisted by human greed, claiming the life-long savings of countless men, even human life itself.
Economic crisis originates from human greed. The greed in men’s heart feeds the greed of Wall Street, thus reeling in more capital from around the world, which further spawns an immense amount of greed.
Name brands often tempt people to spend more than they can spare, to give in to their vanity; and those consumed by the stock and real estate markets are enslaved by the promise of overnight riches. Those who give in to greed and dig themselves into a bottomless hole only have themselves to blame.
Resist the temptation of name brands, and don’t give in to your vanity; lead a simple life, then you will emerge untainted by the sea of greed.
Don’t chase name brands, don’t let your actions be guided by vanity, and don’t dream of the pie in the sky. This is the way to start a simple life.
Work hard and be frugal. A simple lifestyle will benefit yourself and your family, as well as the society in general.
Do not give in to temptations and live a simple life—such is the way to conquer one’s greed.
A simple lifestyle is full of benefits. At the very least your life will not have a negative impact on the world around you.
A nation whose people only knows how to spend and not to save money will have a bleak future indeed.
A government that only takes on debts but do not pay them off is never one to gain respect.
A parent who passes his own debts on to his children with no regard for their wellbeing cannot hope for fidelity from his offspring.
There is no hope for a man who does not know to save up his earnings.
A nation made up of citizens without savings has no hope for a desirable future.
The key to stay afloat in an economic recession is to be practical and innovative while staying rational, also be flexible and wise. Save more, borrow less. Embrace frugality and resist greed.