Best Money Tips of All Time (From Warren Buffett) - Deepstash
Best Money Tips of All Time (From Warren Buffett)

Best Money Tips of All Time (From Warren Buffett)

Curated from: huffpost.com

Ideas, facts & insights covering these topics:

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Never Lose Money

Never Lose Money

  • Rule No 1: Never lose money.
  • Rule No 2: Never forget rule No. 1.

If you work from a loss, it's much harder to get back to where you started, not to mention earn gains.

4.18K

29.1K reads

High Value at a Low Price

High Value at a Low Price

  • Price = what you pay.
  • Value = what you get.

You lose money when the price you pay does not match the value you're getting. For example, when you're paying high interest on credit card debt or spending on stuff you hardly use.

You gain money when you look for opportunities to get more value at a lower price: For example, buying quality merchandise when it is marked down.

4.02K

19.3K reads

Form Healthy Money Habits

Form Healthy Money Habits

Most of your behavior is habitual. You can change your habits and the earlier you start, the better.

Saving is a habit. Learn the habits of saving properly early. Pay attention to your money habits. Strengthen those habits that help your finances, and break the habits that hurt your finances.

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18.5K reads

Avoid Debt

Warren Buffet built his wealth by getting interests to work for him.

  • Many people fail because of liquor and borrowed money. You can make a lot of money without borrowing.
  • Avoid credit cards, because the interest rates are very high on them. “Sometimes they are 18 percent. Sometimes they are 20 percent. If I borrowed money at 18 or 20 percent, I’d be broke.”

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Keep Cash On Hand

Keep Cash On Hand

To ensure security, always keep cash or cash equivalent reserves available.

Businesses and individuals may desire to put liquid cash to work through investments. When bills are due, only cash is legal tender. Be sure to have it on hand.

3.55K

17K reads

Invest in Yourself

Invest in Yourself

You are your own biggest asset. Invest as much of yourself as you can. Improve your own talents and make yourself more valuable. Nobody can tax or steal it.

If you are addicted to your salary there is no way you can become rich.

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18.6K reads

Learn About Money

Part of investing in yourself should be learning about managing money. Risk comes from not knowing what you're doing. Educate yourself about personal finance. Read a lot. Make sure you get to bed smarter. 

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16.3K reads

Low-Cost Index Fund

For the average investor, Warren Buffet advocates for index funds. 

  • Put 10 % of the cash in short-term government bonds.
  • Put 90 % in a very low-cost S&P 500 index fund.

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16.6K reads

Give Back

Give Back

Warren Buffet said that if you're in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99 %.

You can enrich your life and others' by giving back.

3.52K

15.4K reads

Money is a Long-Term Game

Invest with the future in mind. A tree planted today will give shade in the future. Nurturing seed of financial success now will lead to shade later on, for example, freedom from debts, a secure retirement or college fees for your children.

3.71K

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IDEAS CURATED BY

aubbrrey

Keep your friends close and your enemies closer!

CURATOR'S NOTE

Unbelievable how basic these are, but they made Buffet one of the richest man alive.

Aubrey 's ideas are part of this journey:

How to Start Investing Today

Learn more about moneyandinvestments with this collection

How to manage risk

How to analyze investment opportunities

The importance of long-term planning

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