All You Need is Love…and a Good Financial Plan: 17 Finance Tips from the Beatles

by Laura Milligan

When you’re in need of a little financial pick-me-up, who do you turn to? Someone you trust, someone who has experience dealing with money, and probably someone who has a generally optimistic view on life. So who might that person (or persons) be in your life?

The Beatles, of course! John, Paul, Ringo, and George may not be personal friends of yours, but after reviewing 17 of their most insightful business and investment tips, you’ll be surprised at how much brighter your financial future shines.

  1. “You Never Give Me Your Money:” You have to start somewhere.

    Out of college money spent See no future, pay no rent. All the money’s gone, nowhere to go. Pick up the bags and get in the limousine. Soon we’ll be away from here. Step on the gas and wipe that tear away, One sweet dream came true today, came true today.

    Just because you weren’t born with a lot of money doesn’t mean you can’t end up with a lot of money. Have a little faith in yourself and your future – remember that everyone has to start somewhere. Before you can begin saving, you need to eliminate debt. Paying off credit cards and student loans will help improve your credit score and give your budget the boost it needs to start playing with the big boys.

  2. “Lady Madonna:” You have to work to make money.

    Lady Madonna children at your feet Wonder how you manage to make ends meet. Who finds the money when you pay the rent? Did you think that money was heaven sent?

    Money is NOT heaven sent. Without a little effort, you’ll be poor and homeless. Never start a project or a business with the idea that your pockets will miraculously overflow with cash just because your intentions are good. If you’re short a college degree, consider going back to school to help jumpstart a new career. It’s amazing what a diploma can do for your career goals…and your paycheck.

  3. “We Can Work it Out:” Always try to work it out before moving on.

    Life is very short, and there’s no time, For fussing and fighting, my friend, I have always thought that it’s a crime, So I will ask you once again. Try to see it my way, Only time will tell if I am right or I am wrong.

    The Beatles thought they could work it out, so why can’t you? Whether a prize employee threatens to quit, you’re dying to torch your competition’s newest franchise, or even divorce your spouse for mishandling the kids’ college fund, take a deep breath and remember that rich people compromise. Restructure your game plan to tackle whatever challenges are in your path.

    For instance, if you’ve been eyeing yourself in that new Porsche but your workaholic employees demand a raise, consider what they’re asking and offer a salary increase or added benefits. That Porsche might look pretty, but it probably won’t help your business.

  4. “A Hard Day’s Night:” Remember what you’re working for: a certain lifestyle, vacation, or your family.

    You know I work all day, To get you money to buy you things, And it’s worth it just to hear you say, You’re gonna give me ev’rything, So why on earth should I moan, ‘Cos when I get you alone, You know I feel okay.

    When you’re tempted to throw in the towel, try to dig down deep and remember what all this work is for. Are you slaving away to live like a high roller? Working overtime to pay for the wedding of your dreams? Or simply trying to give your family the comfortable life you never had. To help you realize your goals, think of your time spent as money saved. For example five days in the office is the same as $800, which might just pay for your beautiful wedding dress. Find your inspiration and watch the workday fly by.

  5. “Hey Jude:” Don’t isolate yourself. Confide in a friend or business partner and seek out advice from someone you trust.

    And anytime you feel the pain, Hey Jude refrain, Don’t carry the world upon your shoulders. For well you know that it’s a fool, Who plays it cool, By making his world a little colder.

    No one likes a Scrooge. When money worries make you depressed, find someone to talk with – either to cheer you up or give you advice. Talking things over will give you a new sense of perspective, allowing you to analyze your budget in a creative light. You’ll come up with new ways to save or even decide to skip on a project you’d thought was worthwhile. Investing $25,000 in your cousin’s vintage lightbulb collection might have seemed like a good idea in your head, but you’ll probably think otherwise once you say it out loud to someone else. Wipe that pout off your face and act like a big boy. The Beatles have little time for a sore loser.

  6. “Can’t Buy Me Love:” Keep a little perspective

    Say you don’t want no diamond ring, And I’ll be satisfied, Tell me that you want the kind of things, That money just can’t buy, For I don’t care to much for money. For money can’t buy me love.

    You need money to survive, but it can’t necessarily give you the kind of life you crave. Keep things in perspective, and don’t run all over your loved ones in the race to be a millionaire. If you just can’t seem to stop playing with money long enough to catch your son’s baseball game, consider joining the boys on Wall Street…from a distance of course. You can let your broker work while you play.

  7. “Money (That’s what I want):” On the other hand, stay realistic.

    Your lovin’ give me a thrill But your lovin’ don’t pay my bill. Now gimme money – that’s what I want!

    After you remember that friends and family are the most important things in life, realize that you do need balance. Your honey may keep you warm at night, but so do your heater and a pricey down comforter. Love isn’t the only thing that makes the world go ‘round: it’s also money. Burst that honeymoon bubble and get off to work. By planning out your retirement early on, you’ll ensure that you and your family will always have a place to call home. Putting away money each year for your retirement is also often tax deductible, letting you double your savings.

  8. “Day Tripper:” Be aware of scams.

    She’s a big teaser, she took me half the way there, She’s a big teaser, she took me half the way there - now, She was a day tripper, One way ticket, yeah. It took me so long to find out, and I found out.

    We’ve all fallen for the tease at one point or another. Avoid heartbreak and financial ruin by taking things slow. Be sure of your next move and try to resist temptation long enough to do the necessary background checks. Review a company’s history and profile on their Web site or ask to speak to one of their clients for a reference. If they cut and run, you’ll know you made the right choice.

  9. “Obladi Oblada:” Be resourceful and use what you have.

    Happy ever after in the market place Desmond lets the children lend a hand. Molly stays at home and does her pretty face And in the evening she still sings it with the band. Happy ever after in the market place Molly lets the children lend a hand. Desmond stays at home and does his pretty face And in the evening she’s singer with the band.

    Enlist family members if you have a small business and need some extra help. It’s all about being a team player and sharing responsibility. By playing an active role in your business, you’ll save on unnecessary costs and really get a feel for every aspect of your business. Pay your children or other young relatives to help out during the summer months or for a few days a week after school. Make sure you pay them some kind of allowance, of course, or you’ll be violating child labor laws. Isn’t that why people have kids in the first place?

  10. “Come and Get it:” Nothing is free.

    Did I hear you say that there must be a catch Will you walk away from a fool and his money? Sonny, if you want it, here it is come and get it But you better hurry ’cause its goin’ fast You better hurry ’cause its goin’ fast.

    Research all business prospects, and be wary of any “get rich quick” claims. The only fool the Beatles are singing about here is you, if you’re gullible enough to fall for this obvious trick. No one just hands money away without wanting something in return. To save yourself some trouble and unexpected bills, be suspicious of anything that claims to be “free.”

  11. “Everybody’s Got Something to Hide Except Me and My Monkey”: You get what you pay for.

    The deeper you go, the higher you fly. The higher you fly, the deeper you go.

    If you invest more, chances are you’ll make more. The same is true for the opposite: The less you invest, the less profit you’ll see stashed in your wallet. When it comes to investing, a little risk is healthy. Just take baby steps at first and be prepared for failure, as well as success. Never invest all your money, even if you think you’ll come out on top.

  12. “All Things Must Pass Away:” Nothing lasts forever.

    Sunrise doesn’t last all morning; a cloudburst doesn’t last all day. Seems my love is up and has left you with no warning. But it’s not always going to be this grey. All things must pass, all things must pass away.

    This Beatles lyric is relevant to the bad and the good. Don’t be too upset if your stocks fall or you missed the perfect trade. Your luck will undoubtedly change, and another opportunity will surface soon enough. On the other hand, don’t forget the same holds true for good fortune. Relish your successful enterprise but save a little cushion just in case. If you work on commission, try to save at least 10% of every paycheck no matter what. After a good week, put aside more to help you through the slow times.

  13. “Take Some Insurance On Me, Baby:” Insurance is vital.

    Take out some insurance on me baby, take out some insurance on me baby. Well if you ever ever say goodbye, I’m gonna walk right back and die.

    Driving without car insurance is against the law. Living without health insurance is dangerous and stupid. Sure, that money could be used for a fabulous vacation or a new wardrobe, but when you’re stuck in a hospital bed wearing a scratchy backless gown, does that kind of investment still seem like a smart move? Do your research and educate yourself on a number of different policies. Pick one that suits your medical background and potential risks, as well as your current lifestyle. If you’re married, you’ll save money by sharing an insurance policy or policies with your spouse.

  14. “Taxman:” The taxman always wins.

    Let me tell you how it will be, There’s one for you, nineteen for me, ‘Cos I’m the Taxman, Yeah, I’m the Taxman. Should five per cent appear too small, Be thankful I don’t take it all, ‘Cos I’m the Taxman, Yeah, I’m the Taxman.

    Don’t try to dodge the taxman. He’s always been there and always will be. Pay your taxes on time and in full, or else you’ll end up in jail. Don’t say the Beatles didn’t warn you. In order to avoid having to pay out even more money to Uncle Sam every April, sign up to pay the maximum amount of taxes out of each paycheck. Most of the time this amount will only add up to $25-$50. You’ll rest easy knowing that the IRS won’t be coming after you…unless they want to deliver a hefty tax return.

  15. “With a Little Help From My Friends:” Don’t be afraid to ask for help.

    I get by with a little help from my friends, I get high with a little help from my friends, I’m gonna try with a little help from my friends.

    Get over yourself and don’t be afraid to ask for help. Your friends are there for you, just like you’re there for them…right? But before you lay out all the confidential paperwork, make sure you’re talking to a friend you trust (and who isn’t part of the competition). If your friends aren’t experts with financial planning, lean on them for emotional support. Grab a drink and laugh about it. If you’re going down, best to do it with a smile…and surrounded by your friends. Asking a friend for a reasonable loan is usually okay, but map out a detailed plan for how and when you will pay him/her back. Make sure you stick to your promise, or your friendship will fizzle.

  16. “You Can’t Do That:” It’s okay to let some people go

    So please listen to me, if you wanna stay mine, I can’t help my feelings, I’ll go out of my mind, I know I’ll let you down, And leave you flat, Because I told you before, oh, You can’t do that.

    If you’ve told them once, you’ve told them a thousand times. Whether it’s your employees or your accountant, some people just don’t mesh with you. It’s okay to let someone go if they’re hurting you financially (or personally). Find someone who understands your present situation and future goals and is willing to work with you honestly. One way to ensure superior work ethic is to offer profit sharing to your employees or, if you can afford it, a small bonus or raise for your accountant. If they can see a direct financial investment tied in to their job, they’ll work harder for you.

  17. “All You Need is Love:” Where there’s a will, there’s a way. Find it.

    There’s nothing you can do that can’t be done. Nothing you can sing that can’t be sung. Nothing you can say but you can learn how to play the game It’s easy.

    If you believe in something, go after it. Don’t let anyone discourage you from realizing your dreams or expectations. If you hate your job, then chances are your work is suffering. If you love your job, you’re probably more likely to arrive to the office on time and give more energy and focus to the task at hand. A career change might seem like a major setback, but in the long run, it can be the wisest investment you’ll ever make. You might have to start with a smaller paycheck or take a few classes to catch up with the recent grads, but if you love what you’re doing, the money will undoubtedly follow. There are dollar signs in your eyes, so go after them. The Beatles wish you well.

Now that you’ve had a little help from the Beatles, you’re ready to map out your quest to become the world’s next millionaire (at the very least!) Stay positive and realistic, and don’t let anyone get in your way.

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