Personal Finance Tips from Billionaires - Deepstash
Personal Finance Tips from Billionaires

Personal Finance Tips from Billionaires

Curated from: mint.com

Ideas, facts & insights covering these topics:

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The sooner you start managing, saving, and investing your money, however limited, the better off you'll be as long as you avoid mistakes like investing everything into one stock. That’s the advice of Carlos Slim Helú.

He is a Mexican businessman who was ranked as the richest person in the world for a few years. Slim started investing early, buying shares in a Mexican bank at age 12, and earning 200 pesos a week as a teen working for his father's company.

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Oprah Winfrey

"You become what you believe. You are where you are today in your life based on everything you have believed."

OPRAH WINFREY

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Christopher Paul Gardner

“… the secret to success: find something you love to do so much, you can't wait for the sun to rise to do it all over again."

CHRISTOPHER PAUL GARDNER

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Find Your Passion

By doing something you love you are more motivated to put the time and effort it takes to succeed and may even develop a new business out of it. That’s the advice of Christopher Paul Gardner. Gardner is nowa millionaire, but he was a homeless single father for a time.

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You Don't Have to Game the System

You Don't Have to Game the System

Learning how the system works and avoiding the major pitfalls is often enough to succeed. It’s slow but it’s safe and it’s also the advice of billionaire Warren Buffett.

Buffett made his investment fortune on the fundamentals: focusing on companies with strong annual cash flow, and choosing companies that aren't at risk of technical obsolescence. Buffett spent the early part of his career investing in insurance companies.

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Simplify Your Life

Simplify Your Life

Constantly pursuing things you don't need puts you on a financial treadmill, not an upward escalator.

Warren Buffett lives in a house he bought in 1957 for $31,500. Carlos Slim has lived in the same house for more than 40 years.

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907 reads

Walking and Taking Public Transport

Walking and Taking Public Transport

There is nothing to be ashamed of in taking the public transport and walking. It's easy on the bank account, and better for the environment. Protect yourself and your money by not falling prey to meaningless social pressures or vanity.

A few billionaires like John Caudwell, David Cheriton and Chuck Feeney walk, ride bikes or use public transport regularly.

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671 reads

Cars Are Consumer Goods

Cars Are Consumer Goods

Don't buy a car just for the status it allegedly brings. It’s an object designed to transport you in safety and reasonable comfort, acting otherwise leads to money waste.

Ingvar Kamprad of Ikea drives a 10-year-old Volvo, and Walmart billionaire Jim Walton drives a 15-year-old pickup truck.

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IDEAS CURATED BY

verra_

"Many people are in the dark when it comes to money, and I'm going to turn on the lights. " ~ Suze Orman

Vera 's ideas are part of this journey:

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