When my husband attended one of his first meetings as a new faculty member, what he remembered most was a statement from the head of the business school.
“We have money for everything we need but not a penny to waste.”Dean Richard Scott
We claimed that declaration as our money mantra, and it outlasted all others. (See here and here) Over the years, we have neglected things we needed and wasted a bit, but it has been a good compass. In times of want we have said, “We have money for everything we need,” and in times of plenty we have said, “We don’t have a penny to waste.”
I especially like the reminder during the holidays when both temptations exist: not allocating enough money for celebrating and unnecessary splurges.
Do any statements guide your money thinking?