Business is about problem-solving, but it does not always have to be about maximizing profit. When I went into business, my interest was to figure out how to solve problems I see in front of me. That's why I looked at the poverty issue. I got involved in lots of things to address it, and one of them was money lending with loans and credits and savings accounts, and in the process I created Grameen Bank. So you can also have social objectives. Ask yourself these questions: Who are you? What kind of world do you want?
My first company failed completely. And it failed at about ten months old. I had about 12 months of savings, so when it failed I was thinking: 'Do I go back to work?' And at that point I believed so deeply in what I was doing that I couldn't imagine anything else other than trying to make this business work.
How many millionaires do you know who have become wealthy by investing in stocks, bonds, mutual funds or savings accounts? Income property is the most historically proven asset class in America, if not the entire world. I rest my case.
Bailing out people who made ill-advised mortgages makes no more sense that bailing out people who lost their life savings in Las Vegas casinos.
People should take every opportunity they can to save money because it really adds up, and the best way I know to do that is to make your savings automatic.
I have a fear of poverty in old age. I have this vision of myself living in a skip and eating cat food. It's because I'm freelance, and I've never had a proper job. I don't have a pension, and my savings are dwindling. I always thought someone would just come along and look after me.
But in general, as countries get wealthier, there's going to be more savings, which means you're going to have intermediation. So part of it is just the huge growth in wealth, and part of it was globalization - these companies, these clients getting much bigger and much more global.
It's not just that families can't buy a home or start a business without some savings tucked away.
Most savings rates are based on underlying interest rates.
Well British pension funds have not been investing the savings of British people in British infrastructure.
Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it.
Vague promises of savings from cutting waste, enhancing prevention and wellness, installing electronic medical records and improving quality are merely lipstick cost control, more for show and public relations than for true change. Savings will require changing how doctors think about their patients. Doctors take the Hippocratic Oath too seriously, as an imperative to do everything for the patient regardless of the cost or effects on others.
Never invest emergency savings in the stock market.
My grandmother always said, 'when you receive a paycheck, you always have to put a certain amount to your savings, and 10 percent right away to charity. '
In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms.
The way to build your savings is by spending less each month.
Let me tell you another place to look for some savings. We are currently spending $10 billion a month in Iraq when they have a $79 billion surplus. It seems to me that if we're going to be strong at home as well as strong abroad, that we have to look at bringing that war to a close.
Savings will not make you rich. Only canny investments do that. The role of savings is to keep you from becoming poor.
