An Incredible successful investor, Yes we are talking about none other than Warren Buffett
whose tips for investing always works. His simple and straightforward strategies we can use
to be successful. Here’s some Buffett’s great money advice.
Borrow but not in an excess so as to save yourself from financial obstacles. Don’t borrow
completely or credit card debt or unnecessary loans. Try to make a huge money without
Some experts categorized borrowing money as “good debt” and “bad debt”.Good debt is
the wise manner to invest in your future. It never creates a negative impact on your finances and
even leaves you in a better-place and for the long-term. Ideally, this includes things like a
mortgage or student loan.
While bad debt on the other side, include a loan to buy a big screen TV. Apparently not
meant to be an investment and has no prospect for future growth.
“The most important investment you can make is in yourself.”
To priortize your saving you must pay to yourself.
Don’t save what is left after spending, spend what is left after saving.
Consider you have pretty much income to cover your basic needs, and you want to begin
Budget for your requirements and bills, then mark out how much you want to save.
Whatever is left is spending money.
3. MAKE LONG-TERM INVESTMENTS OVER SHORT TERM ONES.
Buffett’s index fund investing strategy as “set it and forget it.”
It means if you view at your daily valuations, you might be discouraged and might eagerly
want to sell your stock at your bad time.
Ofcourse, you should look into your investments every now and then to make sure you’re still investing properly.
Time suggests a semi-annual check-up. But for the most part, Buffett suggests observing at the big picture when it comes to picking your investments. This way, your investing won’t require much maintenance.
Think apart from money as well.
4.MONEY DOESN’T BUY EVERYTHING FOR YOU.
For instance, long standing friends, relationships can’t be maintained on the basis of money. Majorly Buffett’s value the most, apart from health aside is this only.
Money offers a lot of choices. But, of course, it is very important to anaylze the things in life truly matters a lot that add value to our life.
5. PRICE AND VALUE ARE DIFFERENT TERMINOLOGY
Here warren Buffett’s means to say that price is what we pay for and value is what we get.
It is not about paying a lot for something just because it’s valuable, either. It’s about buying value at a low price.
It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
6.UNDERSTAND BUT DON’T UNDERESTIMATE
Don’t understimate your bad habits else it will get influence over your finance.
First break it down, if you want to change your routine.
Analyze your cue, routine and set it.
“…not doing what we love in the name of greed is the very poor management of our lives.”
Remember this, Warren Buffett started with $100 and turned it into $30 billion. It conveys to us that it is not the money you have,
it’s about the skills and knowledge you have.
If you are willing to work hard and learn no barrier will stop you to getting rich.
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