Saving money is one of the most important money-management skills there is. So, naturally, there are many famous quotes about saving money…with some dating back thousands of years!
In this roundup, we'll look at some of the most popular, motivational, and wise money saving quotes, and then we'll give our own quick 1-2 sentence takeaway to help break down the meaning of each quote even further.
Table of Contents
Quotes About Saving Money Wisely
“Do not save what is left after spending, but spend what is left after saving.”– Warren Buffett
Takeaway: Set aside a portion of your income as savings and then spend what's left. Don't do it the other way around.
“The price of anything is the amount of life you exchange for it.”– Henry David Thoreau
Takeaway: When making a purchase, consider the costs not only in money, but also in the time and effort (life) you spent to earn that money.
“He who buys what he does not need, steals from himself.”– Swedish Proverb
Takeaway: When you waste money, you're robbing yourself of savings and you're eliminating the chance of using that money for more fulfilling purposes in the future.
“A budget is telling your money where to go instead of wondering where it went.”– John C. Maxwell
Takeaway: Budgets often get a bad rap, but even the simplest of planning can help you utilize your money more wisely.
“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
Takeaway: Don't wait until you're almost out of money to start focusing on saving. Get ahead and stay consistent.
“Never spend your money before you have it.”– Thomas Jefferson
Takeaway: Funding purchases with money that you might have in the future is a quick way to build up debt and dig yourself into a financial hole.
“It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”– Robert Kiyosaki
Takeaway: You can earn as much money as you want, but if you don't know how to save it, grow it, and preserve it, you'll be no better off than someone making nothing.
“You must gain control over your money or the lack of it will forever control you.”– Dave Ramsey
Takeaway: If your inability to save money consistently is causing you to live paycheck to paycheck, you'll never feel in control until you break that cycle.
“A penny saved is a penny earned.”– Benjamin Franklin
Takeaway: Saving money is just as good as earning it. A penny spent unwisely might as well have never been earned in the first place.
“Money goes where it's respected. So, spend wisely; save and invest carefully; pay bills on time; keep good financial records; get professional help and advice when you need it.”– James Goi Jr
Takeaway: The more you appreciate the money you get, the better you'll be at saving it and managing it wisely.
“If you would be wealthy, think of saving as well as getting.”– Benjamin Franklin
Takeaway: Earning is important, but it's not the only ingredient to building wealth. You need to learn how to save your money as well.
“If you wish to get rich, save what you can get. A fool can earn money, but it takes a wise man to save and dispose of it to his own advantage.”– Brigham Young
Takeaway: Accumulating wealth involves not just earning money, which anyone can do, but also wisely saving and utilizing it to one's advantage.
“Saving allows us to survive, but investing enables us to thrive.”– Logan Allegianis-Pierce
Takeaway: This is another money saving quote that highlights the importance of putting your savings to work. Saving is a great first step, but investments should also be utilized to grow those savings semi-passively.
“Try to save something while your salary is small; it's impossible to save after you begin to earn more.”– Warren Buffett
Takeaway: Some think they need to wait until they're earning more to start saving. This is the wrong idea. Build the savings habit while your income is small and it'll stick with you as your earnings grow. Try to do the opposite, and your spending habits are likely to outpace your savings.
“Look everywhere you can to cut a little bit from your expenses. It will all add up to a meaningful sum.”– Suze Orman
Takeaway: Besides earning more money, cutting expenses is the next best way to increase your savings. If you create a list of expenses you can potentially cut from your budget, you might be surprised at how much money that adds up to.
“When the purse becomes empty, the mind becomes full of issues.”– Ernest Agyemang Yeboah
Takeaway: Having money saved for a rainy day can bring a lot of peace of mind. This may not be seen right away, but if you've ever faced financial troubles without an emergency fund, you know how much stress and worry that can bring on.
“At the end of the day, taking 50% off a $250 dress still means walking out of the store $125 poorer.”– Ian Lamont
Takeaway: When making a purchase, even for something on sale, consider the time and effort you spent to make and save that money. Is the item or service truly worth the hit on your savings?
“You don't have to be a miser, just be wiser with your money.”– Dorethia Conner Kelly
Takeaway: Being smart with money doesn't mean being overly frugal. It suggests making wise and thoughtful financial decisions to manage your resources effectively.
“Being a smart shopper is the first step to getting rich.”– Mark Cuban
Takeaway: Make cost-effective and wise purchasing decisions and saving money and building wealth will be a whole lot easier.
“Save money on the big, boring stuff so that you have something left over for life's little pleasures.”– Elisabeth Leamy
Takeaway: Savings on large purchases can be quite significant, but they're often ignored or forgotten about. Focus on savings on things like housing costs, utilities, car payments, healthcare, debt, groceries, and similar, and you'll have more budget space to treat yourself.
“Save when you don't need it, and it'll be there for you when you do.”– Frank Sonnenberg
Takeaway: Building savings during times of abundance ensures that you have a financial cushion when you need it, reflecting the importance of proactive financial planning.
“Keep your eyes on the price when spending. Don't regret later to find that you have nothing for tomorrow.”– Elisabeth Leamy
Takeaway: Be mindful of your spending, ensuring that your focus on immediate desires doesn't lead to regrets and financial shortcomings in the future.
“Live below your means, and you will become rich.”– Lucius Annaeus Seneca
Takeaway: Spend less than you earn and you'll be on the path to wealth.
“Waste neither time nor money, but make the best use of both.”– Benjamin Franklin
Takeaway: Money is a valuable resource. Time is your most valuable resource. Spend both wisely.
“Many people save money and time to accomplish nothing in life.”– Tamerlan Kuzgov
Takeaway: Following the previous money saving quote, it's important not to hoard your resources mindlessly. Create a plan and use your savings and time to accomplish your goals.
“Personally, I tend to worry about what I save, not what I spend.”– Paul Clitheroe
Takeaway: If you have your savings in line, spending what's left over shouldn't cause any problems. Prioritize building your savings first, and then feel free to enjoy what's left.
“Saving is the gap between your ego and your income.”– Morgan Housel
Takeaway: Oftentimes, we spend money to impress others. Recognizing and controlling that behavior will not only help you save money but will also help you spend on things that are more fulfilling and important.
“Savings can be created by spending less. You can spend less if you desire less. And you will desire less if you care less about what others think of you.”– Morgan Housel
Takeaway: This is another quote about saving money from Morgan Housel, very similar to the previous one. Same takeaway.
“A man who both spends and saves money is the happiest man because he has both enjoyments.”– Samuel Johnson
Takeaway: A bit of a flip from the previous quote, this one highlights the fact that it's important to enjoy the money you save as well. When you have the means to do so, spending a bit of what you save is a great way to reward yourself for your consistency and dedication.
Inspirational Money Saving Quotes
“A simple fact that is hard to learn is that the time to save money is when you have some.”– Joe Moore
Takeaway: Don't wait until you need money to start saving. The best time to save is when you have the means to do so. Save while you're ahead.
“You don't have to see the whole staircase, just take the first step.”– Martin Luther King, Jr.
Takeaway: Even if you don't have a full financial plan figured out, start saving anyway. You'll be glad that you did.
“The art is not in making money but in keeping it.”– Jewish Proverb
Takeaway: Knowing how to make money puts you in a good financial position. Knowing how to make and save money puts you in a great financial position.
“The goal isn't more money. The goal is living your life on your own terms.”– Chris Brogan
Takeaway: You get a lot more freedom of choice when you have money saved in the bank. This is commonly referred to as F.U. money. Once you have it, you can decide whether or not something is worth your time without being chained down by financial constraints.
“Don't think of saving money as a punishment. Think of saving money as a lifestyle change and a means to freedom.”– Emily G. Stroud
Takeaway: Some see saving money as boring, restrictive, or irritating. If you can see the positive in it, you'll have a much easier time following through.
“When money realizes that it is in good hands, it wants to stay and multiply in those hands.”– Idowu Koyenikan
Takeaway: Treat your money right and it'll treat you right.
“Once you really accept that spending money doesn't equal happiness, you have half the battle won.”– Ernest Callenbach
Takeaway: The happiness we feel from buying new things is short lasting. The happiness felt from accomplishing financial goals and creating financial freedom lasts much longer, and is much less expensive.
“Money is a guarantee that we may have what we want in the future. Though we need nothing at the moment it ensures the possibility of satisfying a new desire when it arises.”– Aristotle
Takeaway: Be wise with what you're saving your money for. There's another quote that goes, “You can have anything you want, but not everything you want.” If you're smart with your savings, you'll be able to fund your most desired purchases and your future self will thank you.
“I save money when I am working so that I never have to take a role simply to pay the bills.”– Gary Sinise
Takeaway: When income is flowing, take advantage and build yourself a safety net. Then, if (or when) the paychecks stop coming, you'll be in a position to make your next moves based on what you want to do rather than what you need to do to pay the bills.
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Motivational Money Saving Quotes
“Saving a small amount soon builds up to a large amount.”– Scottish Proverb
Takeaway: Don't be discouraged if your savings deposits seem insignificant at first. Small but consistent savings can build up to large sums over time. Stay motivated!
“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.”– Thornton T. Munger
Takeaway: Building the habit of saving money won't just improve your finances. It'll also teach you self-discipline, organization, foresight, and patience.
“Save for retirement. Start from your first paycheck.”– Chanda Kaushik
Takeaway: Don't stress the specifics. Start putting money away from the very beginning and your future self will thank you.
“Life is a game. Money is how we keep score.”– Ted Turner
Takeaway: View life (and more specifically, finance) as a game. Saving (and investing) will increase your high score.
“Prosperity is the fruit of labor. It begins with saving money.”– Abraham Lincoln
Takeaway: Hard work and savings are key to achieving financial success and well-being.
“It is thrifty to prepare today for the wants of tomorrow.”– Aesop
Takeaway: Remember that saving money doesn't mean depriving yourself of things that make you happy. If you save and spend carefully, you'll be in a much better position to make an important purchase when the opportunity rolls around.
“Start where you are. Use what you have. Do what you can.”– Arthur Ashe
Takeaway: Saving money and building wealth is a marathon, not a sprint. Take what you have, utilize your skills, and do the best you can, consistently.
“Literally, time is money. Starting to save now instead of later lessens the amount you will need to contribute.”– Coreen T. Sol, CFA
Takeaway: Don't wait until tomorrow to start saving your money. The sooner you start, the less ground you'll have to make up going forward.
“It is often assumed that money is the only motivational factor. Wrong. Fear is also important. Save money. Use fear!”– Alistair Beaton
Takeaway: The idea of financial freedom is a great motivator, but a potentially stronger motivator is the fear of financial difficulty. If necessary, use both to keep yourself on track.
“Saving is the foremost financial education we need, not finance.”– John Joclebs Bassey
Takeaway: Learning how to save money effectively is one of the most important pieces of financial knowledge.
“Saving money Today secures, eases, and beautifies Tomorrow.”– Ehsan Sehgal
Takeaway: In a world that revolves around money, having savings stocked away can make your days much more enjoyable.
“Small amounts saved daily add up to huge investments in the end.”– Margo Vader
Takeaway: While a small amount saved today might not seem like much, when repeated for many days, those small sums add up.
“You can make money two ways — make more, or spend less.”– John Hope Bryant
Takeaway: Pick one: make more money or cut expenses. Both will help you save more.
“The only way to save money is not to spend it.”– Roy H. Williams
Takeaway: I mean, he's not wrong.
Savings Quotes: Summary and Key Points
You might have noticed some patterns among these money saving quotes. Many of them talk about the same points or lessons.
Here's a quick summary of some of these common points:
- Prioritize saving. Set aside your savings as soon as you get paid. Start early and save often.
- Evaluate all purchases. Each purchase costs a part of your savings, and the time and effort you spent to gain those savings. Keep that in mind with every purchase you make.
- Invest. Saving a portion of your income is great. Turning your savings into income (via investments) is even better.
- Reward your efforts. Don't just hoard — you deserve a reward. Enjoy your savings every now and then. That's what they're there for!
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