When it comes to financially successful men there are very few who can compete with Warren Buffet. Buffet is not only a successful investor but he has also created his own set of rules and ideas that he always follows when it comes to money. These can be implemented by anyone and in the long run, they are guaranteed to help your relationship with money.
- “Never Lose Money”
Buffet has said, “Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1.” To put it simply you can’t make money if you are working at a loss. Always look for ways to make money rather than lose it. - Money Habits
Buffet has frequently spoken about the importance of habit when it comes to money management. Being aware of your behaviors and which ones are hurting your wallet, can be an incredibly important part of managing your money. - Always have cash
Buffet has maintained that having some cash on hand at any given time is important. This is because you want to have some liquidity in cases where all of your assets are tied up. Cash can always be there to help you get through in a tight pinch. - Know about Money
Learning about how to manage money is an important part of having money. If you don’t learn to manage your own personal finances and invest at minimum risk you will never be able to make more money. Therefore, education is key in finances. - Be generous
Buffet has long maintained that if you have money one of the things you need to do is pay it forward. Being generous is incredibly important in having money and managing it properly.
