Fred Wilson on Available Funds
on Monday, December 9, 2013Fred Wilson Money Quotation saying available funds as cash on hand is more likely to be spent than inaccessible funds or raising new money. Fred Wilson said:
“Money lying around tends to get spent. It is a very hard mental exercise to sock away a bunch of money and forget about it” — Fred Wilson
In this quote, Fred Wilson is observing that it can be difficult for people to save and accumulate wealth over time. He notes that when money is readily available, the tendency is often to spend it on current wants or expenses.
However, building savings and assets for the future requires the “very hard mental exercise” of setting money aside and not viewing it as something to spend immediately. Wilson is acknowledging that resisting short-term gratification and remembering that the money is meant for long-term goals, not instant use, takes real discipline.
His point is that consciously choosing to “sock away” funds and then ignore them, rather than constantly watching one’s balances, can help amass significant savings and investments in the long run.