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.
MORE IDEAS ON THIS
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 finance...
Warren Buffet built his wealth by getting interests to work for him.
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.
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.
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.
For the average investor, Warren Buffet advocates for index funds.
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.
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.
If you work from a loss, it's much harder to get back to where you started, not to mention earn gains.
Keep your friends close and your enemies closer!
Unbelievable how basic these are, but they made Buffet one of the richest man alive.
More like this
"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."
Try to transfer your debt onto a zero-interest credit card (also known as a balance-transfer card). It will give you a limited time window where your debt won't accrue interest and allow you to get rid of your debt faster. But ensure you can pay it off within that window, otherwi...
The best thing to do with your money during a recession is to pay off your credit card debt.
Paying off a credit card that charges 18% interest is equivalent to getting an 18% return on investment. You may not get that from most other investments during a recession.
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