Warren Buffett’s Best Money Advice - Deepstash

Bite‑sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

published 9 ideas

Warren Buffett’s Best Money Advice

twocents.lifehacker.com

Borrow Wisely

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."

  • Good debt is investing in your long-term future, such as a mortgage or student loan. Ideall...

22

STASHED IN:

865

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 monthl...

10

STASHED IN:

898

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.

11

STASHED IN:

805

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.

    8

    STASHED IN:

    798

    Warren Buffett

    "Long ago, Ben Graham taught me that 'Price is what you pay; value is what you get.' Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down."

    9

    STASHED IN:

    874

    Warren Buffet is known for his frugality. Frugality isn't about buying anything at a low price - it is about buying value at a low price.

    The key is not just to look at the price, but to keep value in mind, too.

    11

    STASHED IN:

    871

    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.

    12

    STASHED IN:

    942

    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 i...

    5

    STASHED IN:

    817

    Warren Buffett

    "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 inter...

    15

    STASHED IN:

    850

    0 Comments

    Discover and save more ideas by creating a

    FREE

    Deepstash account.

    Develop a

    reading habit

    , save

    time

    and create an amazing

    knowledge library

    .

    GET THE APP: