"Rich people stay rich because they act poor, and poor people stay poor because they act rich."
"Self-control is, if I have money, I spend it."
"It's obvious that deferred gratifiers do better over the long pull than these impulsive children who have to spend all their money on Rolex watches or some other folly."
"I saw these people with a bunch of money... and it would be at zero in their account, living paycheck to paycheck."
"There's a difference between investing and gambling, and we have too many people out there who are gamblers."
"And all around the investment world today, people are chasing return."
"Once you start paying it, very quickly people get used to it."
"Human folly and greed are much stronger forces in financial affairs than reason and restraint."
"Never sell out. It's like a rat race. You're just spending that money, so you're running in a circle."
"Don't listen to what they say, watch what they do with their money."
"Personal finances: 80% behavior, 20% head knowledge."
"When you see people using credit cards and unsecured money to survive, that's the calm before the storm."
"So so my theory and to attack the crypto guys is they don't buy it to store and they don't buy it to be used as a currency they buy it as gambling."
"The belief in the bubble, the mania, they short it and they give all their money to the long."
"Generous means that you are willing to give freely, while miserly means you hate to spend money."
"They keep their Savings in foreign currency."
"But I think overall the trajectory is you know the people are investing much more sensibly today and it's a combination of the availability of the right instruments and the right programs right."
"If one person jumps in and they make money, other people are gonna take notice and they're also gonna start jumping in."
"So much of this doesn't seem like something a billionaire would do. I mean, this is not the action of somebody who seems to be cash poor."
"It's the purest reflection of sentiment, people are putting their money where their mouth is."
"Greed took over and risked to not become a factor in doing anything."
"You'll know when the last song is being played when everybody's panicking."
"Who's the real fool here? Is it the people that work all week and they pour their money into like tonight there's a big game out there that's a billion dollars?"
"It's counterintuitive. Most humans buy high and sell low."
"Half the reason people spend money irresponsibly is because they want to convince themselves that they've achieved success."
"Another big difference that Choi found is that economists don't understand the idea of holding cash in a low interest rate account while also having high interest rate debt."
"FOMO culture is more alive than ever, especially with the rise of social media. Financially, FOMO doesn't just affect the investments we make, it also impacts the clothes we wear, the houses and the cars that we buy, and the lifestyles we live."
"The reason people are poor is because of bad financial behaviors, that's it."
"Why so many Americans have stopped paying their credit cards."
"Americans have $33 billion worth of unused gift cards just sitting around, according to a new report. GameStop values hit at six bucks, so I'd rather just use it as a paperweight, to be honest."
"I have noticed as I've gotten older people buy things that they cannot afford."
"I see a lot of these guys go to strip clubs and blow all of that money."
"You can't act like you're married with your finances when you're acting like you're married with every other part of your life."
"That whole thing kind of reminds me of Nipsey Hussle, you know?"
"The longer your history of on-time payments, the higher your score is going to be."
"The office is like a money-grabbing circus every day."
"We spend money we don't have on things we don't need to impress people we don't like."
"Greed prevents you from taking profits when you should, and fear causes you to sell when you shouldn't."
"Bank of America says young people 7.5 times more likely to hold crypto."
"Squandering doesn't mean being a fool. Do you understand?"
"Investing went completely mainstream with normal people taking up investment like never before."
"The fear of missing out has really taken over, people are leveraging margin to record levels at this point."
"People do not get out of debt because of their incomes people do not get out of debt because of mathematics personal finance is 80 behavior it's only 20 head knowledge."
"If you don't think you're a good ice skater or if you're convinced you're not a good cellist, you're not going to try it. But people are buying stocks anyway. They're not discouraged, they just think it's a gamble."
"People are buying into stocks late into run-ups at high valuations because they want to take part in the gains."
"A lot of very wealthy people act very frugally and it's how they're able to maintain and grow their wealth."
"The conditioning to buy the dip has been so deeply ingrained that is what is likely to be very very destructive on the way down."
"Mortgage rates, car loan, people did a lot of refinancing because rates were so low."
"Stock market participation, even if you do it poorly, is far better than just spending."
"When you make money or you're a high earner, there's certain characteristic traits that you're going to have."
"Anyone who's doing anything negative, they either never had a position, they sold too early like a paper-handed person, or they're actually short and they're losing even more money."
"Most humans lose money over time in the stock market without questioning their inherent thoughts."
"Recovering from overspending hasn't meant I'm free from wanting stuff. I've just unlinked the desire for stuff from the behavior of buying stuff."
"I don't like depositing i feel like i feel that's very uh that's a sign of like addiction when you deposit it oh yeah yeah it's same with that crypto if it's in there i'll mess around with it"
"Even people who don't fall for scams or pay for shitty courses pitched by hustle bros are still more likely to have aggressive stock portfolios."
"Most people who have real wealth don't normally walk around looking like it."
"They're financially insecure, reckless with their money."
"People do all sorts of crazy things with money."
"The tax code is going to dictate economic behavior."
"People have a strong indifference to admitting when they're wrong...but when it comes to the world of money and trading, that's one of the biggest things you're gonna have to battle."
"There's a high correlation between people who win with money and those that are generous."
"Black people are very good at giving the money away. We love supporting our masters, former masters, you know, it's a tradition that we've had for hundreds of years."
"Always spend everything I earn instead of ever saving, terrible advice for real life!"
"Sometimes the type of behavior Kelly exhibited is referred to as financial narcissism. It often gets dismissed as a less harmful consequence of narcissism but Kelly proved it can be deadly serious."
"Panic drives a lot of people's money and panic is not a good decision maker... you need to be the person that stays calm because that's where the most opportunities can be found."
"I trade aggressively so I can add what I make to the long term."
"Rich is a mindset. Broke is a mindset. The baby has a broke mindset. This woman, her name, Danny Lay, she has a broke mindset. Fumble the bag."
"When NFT degens are given free money, they go shopping."
"Every dip triggers panic and every price increase provokes euphoria."
"Why does this always happen why is this all every time people get kicked out of money they always buy like the most extravagant."
"They're very miserly with money. They've hoard money and they hoard money for themselves but they will not spend money on other people."
"Dave Ramsey often cites psychological studies that suggest that people are more likely to spend more money on a credit card because that money doesn't seem real to them."
"Younger generations are more likely to spend cash than they are to spend extra on a credit card."
"Change your behavior with money to break free from the trap set by the 1%."
"Poor people earn money and they spend it, but rich people earn money and they invest it, they make it grow." - Isabelle
"We've been in extreme greed for over a couple of months now."
"Where they put their money is where their true beliefs are revealed."
"I'm about to spend a ton of money I don't have. No look at this one, the freaking switches colors and lights up!"
"The problem with your money is the person in your mirror."
"The key is to use your credit to your advantage for sure, but make sure you're looking into your money behaviors."
"The difference with people who live beyond their means and somebody who is going to a place where God is stretching them is this: somebody who's living beyond their means are people who are faking it till they make it."
"Your financial behavior is a reflection of your self-perceived identity."
"...why do we handle money the way we do you know why do we spend the money we spend why do we save the way we save why do we give the way we give."
"Almost never will you see a woman take out 10k of her own money to throw in somebody else."
"Doing well with money has little to do with how smart you are, and a lot to do with how you behave."
"Before I impulse spend, I would impulsive invest."
"Money outcomes are the derivative of your money behaviors."
"Americans saved a record amount of their income in April."
"You can actually save money by shifting your buyer behavior, by understanding how to recapture money by plugging the holes, stop losing money unknowingly and unnecessarily in life."
"If you can cycle that $500 as many times as you can in six months, Capital One is going to raise that credit limit without you even having to ask."
"People's actions speak louder than words because if that's true, you should not have a Gucci belt if you don't have that same amount of money in the market."
"It completely changed my spending behaviors, I learned so much about myself."
"We never want to allow our emotions to dictate our behavior when it comes to investing."
"Intertemporal discounting relates to all sorts of mistakes investors make."
"Remembering what the irrational exuberance felt like and what the extreme greed felt like is important."
"There's get wealthy behaviors and then there's stay wealthy behaviors."
"It's also important to note that she only took her credit card with her and not any other cards she might have needed."