Financial wisdom from Warren Buffet
Spending: If you buy things you don't need, you'll soon sell things you need.
Savings: Don't save what is left after spending; spend what is left after saving.
Hard work: All hard work brings profit; but mere talk leads only to poverty.
Laziness: A sleeping lobster is carried away by the water current.
Earnings: Never depend on a single source of income.
Borrowings: The borrower becomes the lender's slave.
Accounting: It's no use carrying an umbrella, if your shoes are leaking.
Auditing: Beware of little expenses; a small leak can sink a large ship.
Risk-taking: Never test the depth of the river with both feet.
Investment: Don't put all your eggs in one basket.
I'm certain that those who have already been practicing these principles remain financially healthy.
How to be come a millionaire - Introduction
With the value of money decreasing with time, it is important to note that millionaire in definition means a person who has a million dollars or equivalent.
What is a million dollars. A middle income earner will take twenty years to earn it. The lay man will take forty years to earn it. You might take your entire working lifetime to make a million dollars, and you will most certainly spend it as fast as you earn it. At the end of it all, you might not have much left.
To have at one point in time, a million dollars worth in assets is quite an achievement in inself.
However, the basics are simple. A first step is to realise that you can be successful like any great capitalists. Just being yourself is enough, but there are some simple attitudes to follow.
Starting with not getting obsessed about being a millionaire. Obsession is unhealthy. Its is better if you don't mind making money, but better still if you find it enjoyable.
You should also realise that money making is not a life. You can be whatever you want and still be a part time millionaire. Remember that money is a means and not an end. So, making money for the sake of making money is really pointless. It is not healthy to ponder about making money twenty four seven at all.
What is a million dollars. A middle income earner will take twenty years to earn it. The lay man will take forty years to earn it. You might take your entire working lifetime to make a million dollars, and you will most certainly spend it as fast as you earn it. At the end of it all, you might not have much left.
To have at one point in time, a million dollars worth in assets is quite an achievement in inself.
However, the basics are simple. A first step is to realise that you can be successful like any great capitalists. Just being yourself is enough, but there are some simple attitudes to follow.
Starting with not getting obsessed about being a millionaire. Obsession is unhealthy. Its is better if you don't mind making money, but better still if you find it enjoyable.
You should also realise that money making is not a life. You can be whatever you want and still be a part time millionaire. Remember that money is a means and not an end. So, making money for the sake of making money is really pointless. It is not healthy to ponder about making money twenty four seven at all.
