Quickest way to double your money – Will Rogers

Quickest way to double your money: This article is a quote analysis of Will Rogers’ words on money management. I’m sure you’ve come across numerous ‘Get Rich Quick’ schemes and also know by now that they don’t exist. 

This post is in respect to sensible investments, thorough research and treating your finances with respect. The discussion doesn’t explain of ways to manage your finances. If you are interested in managing money, I’d suggest a detailed course on managing personal finance. List of some free courses about managing money is available here

Meaning of the quote – Quickest way to double your money 

Money Management is an integral aspect of self development. As you know, it is a key resource to provide you the necessary independence for your life. 

What does Will Rogers mean by his quote – the quickest way to double your money? The explanation surely goes back to a famous cliché – a penny saved is a penny earned. 

On a practical note, can we enrich this quote further? Instead of just folding it over and keeping it in the pocket, you’d need to consider investment opportunities. 

A part of the quote talks about preventing spending money and saving instead.

Putting the money back in your pocket Vs Enjoying Life  

A flip side of this quote is that it talks about refraining from spending. It is your money and you deserve to spend it to bring you utmost happiness.

The quote only recommends a forethought about the value of money. Instead of considering only thinking twice before spending, I’d encourage to draw up an investment plan. 

Calculate how much money is required for your savings and draw up a rough budget about your key requirements. This can be deposit for a car, house or even a new purchase. Make sure that you have an entertainment budget as well and project where it will get you.

If you are happy with the projected results, monitor how you progress with this plan. The combined approach will give you a plan for your financial management. One final thought I would leave you with is: Make your money work for you instead of just putting it back in the pocket! 

The quickest way to double your money is to fold it over and put it back in your pocket

– Will Rogers