Warren Buffet’s Money Making Wisdom

Warren Buffet, dubbed the oracle of Omaha by CBS news and the world’s second richest man still lives in the same three-bedroom house he bought 50 years ago and drives his own car, he does not believe in surrounding himself with drivers and body guards. He lives a simple life and believes that you are what you are. A self starter Warren bought his first shares at the age of 11 and his fist farm at the age of 14 with money he saved from his paper rounds. I truly believe that this is a man we should learn from. In a recent interview he shared his some of his money making wisdom with CBS news and I hope that you find this as enlightening as I did:

Hard work: All hard work bring a 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. (At least make your Investments get you second earning)

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.

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.

(Have an alternate plan ready)

Investment: Don't put all your eggs in one basket.

So lets start the new financial year with some of these principles as a base to work from.

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