Deepstash brings you key ideas from the most inspiring articles like this one:
Read more efficiently
Save what inspires you
Save all ideas
Warren Buffett advises against excessive borrowing, such as credit card debt or unnecessary loans.
Some experts divide borrowing money into "good debt" and "bad debt."
Prioritise your savings, not saving what is left after spending.
When budgeting, consider what is necessary to cover your basic needs, then figure out how much you want to save. The leftover is spending money. If it helps, think of your savings and investments as a monthly expense.
Many people fall into bad money habits and don't realize it until their habits become hard to manage.
If you want to change your habit, start by breaking it down. Understand your cue, reward, and routine, then use it to break the cycle of your habit.
Trying to patch up financial issues that are causing you to live from paycheck to paycheck can keep the cycle going, such as payday loans, and hardship withdrawals from your retirement account. It may get you out of immediate trouble but will set you up for eventual failure.
According to Warren Buffet, if you invest in a very low-cost index fund over time, you'll do better than 90% of people who start investing at the same time. To start, Buffet advises to put 10% of the cash in short-term government bonds, and 90% in a very low-cost S&P 500 index fund.
The money you want to invest outside of your retirement accounts:
Warren Buffet's index fund investing strategy is to "set it and forget it" and not to get caught up in daily valuations.
Don't think about owning stock if you aren't willing to hold it for then years. Buffet suggests looking at the big picture when you pick your investments.
"Some material things make my life more enjoyable; many, however, would not. I like having an expensive private plane, but owning a half-dozen homes would be a burden. Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends."
SIMILAR ARTICLES & IDEAS:
Precrastination is described as rushing to complete a subgoal so you can tick it off your to-do list at the expense of extra effort. As a result, you will need more effort later to complete...
Suffering is not always part of exercise. Sweating, breathing hard, and being exhausted afterward are not measures of effectiveness or progress.
Hard workouts should be mixed with ...
We should differentiate between what looks appealing and what is actually useful.
Ads for workout clothes seem to show people drenched in sweat. While hard training classes may be good for people to get fitter and stronger, it may feel intimidating to newcomers and is not always ideal.
It's okay if you love pushing yourself and find muscle soreness to be a pleasant reminder of your workout plan. But one day, you will not feel sore or fatigued.
It is more effective to have a goal in mind that you aim towards than to focus on your experiences.
Escapism doesn’t make you lazy, but too much can turn into avoidance and make you stagnate instead of actively pursuing your goals.
It can cause problems with your productivity at work, in your personal relationships, and it can even cut yourself off from normal social circles.