Financial TIPS

Waren Buffett

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  1. Price is what you pay. Value is what you get. 
  2. It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.
  3. Someone’s sitting in the shade today because someone planted a tree a long time ago.
  4. Risk comes from not knowing what you’re doing.
  5. Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
  6. 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.
  7. You only have to do a very few things right in your life so long as you don’t do too many things wrong.
  8. It’s only when the tide goes out that you discover who’s been swimming naked.

 

Pay Yourself 10% of What You Earn

pay_yourself_firstOne of the most powerful financial TIPS that I have ever received was: Pay yourself at least 10% of what you earn. This 10% is not for a rainy day, holiday, car, etc. It’s for your old age.

We pay our mortgage, so we work for the bank.
We pay our tithe, so we work for the church.
We pay our bills, so we work for the utility companies.
You too deserve to be paid.

Never spend more than you earn

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Never spend more than you earn.

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