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Warren Buffet built his wealth by getting interests to work for him.
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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.
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 f...
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 work from a loss, it's much harder to get back to where you started, not to mention earn gains.
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.
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.
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...
For the average investor, Warren Buffet advocates for index funds.
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Buffett follows the Benjamin Graham school of value investing, which are :
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Each of us, through experience or study, has built up useful knowledge on certain areas of the world. Some areas are understood by most of us, while some areas require a lot more specialty to evaluate.
It is important to honestly define what we know and stick to those areas.
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