10 money rules that can change your life
Warren Buffett is a principled man and he lives by those principles, which has helped him build his wealth long-term.
Warren Buffett is an American business mogul who started with just a $100 and turned it into over a $76 billion, long-term. Which tells us that to be wealthy and successful, it isn’t about how much money you have, but the financial knowledge you have.
Here are ten tips you can tap from Warren Buffett which should be helpful for you.
1.“You’ve gotta keep control of your time, and you can’t unless you say no. You can’t let people set your agenda in life.”
Time is precious and also translates into money. It is very important to know how to manage time. Without time management, it will be a case of disorganized schedule.
2. “I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”
To be wealthy, you should always have a positive mindset towards it, always be optimistic and never have a mediocre mindset of doing things, never be sceptical about doing things.
3.“The most important investment you can make is in yourself.
Personal development is important. Develop yourself mentally, read motivational books, take business professional courses. Anything to improve your personal life.
4. “If past history was all that is needed to play the game of money, the richest people would be librarians.”
Never let your past determine your future. Because you failed at something doesn't mean you are a failure.
5. “Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”
It's better to have assets than liabilities. Acquire things that would have long-term value.
6. “In the world of business, the people who are most successful are those who are doing what they love.”
There is always a sense of fulfilment in doing what you love. Having a passion for something and turning it into money
7. “The difference between successful people and really successful people is that really successful people say no to almost everything.”
You must learn how to say no to almost anything. Before making a decision think through it.” Saying no most times prevents you from making bad financial decisions.
8.“It’s better to hang out with people better than you. Pick out associates whose behaviour is better than yours and you’ll drift in that direction"
Make friends with people of like mind and interest and are way better than you. Meet and network with the right people
9. “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.”
There is a saying '"Opportunity comes but once when it comes your way, make good of it"
Seize every opportunity and leverage on it.
10. “If you aren’t thinking about owning a stock for ten years, don’t even think about owning it for ten minutes.”
Make more of long-term investment goals than short-term ones.
JOIN OUR PULSE COMMUNITY!
Eyewitness? Submit your stories now via social or: