Warren Buffet’s Advice

Heya ppl,

Have you ever noticed that when ever we are given advice, the chances that we will listen to them depend on how much we like them or how successful they are.

Here is some advice from Warren Buffet that I got through email. Now I am not sure whether Warren Buffet really did say all of this or whether some guy is just passing around stuff but some of these make sense. So assuming that all this was really said by Warren Buffet, let’s try to get them into our daily lives.

We begin this New Year with dampened enthusiasm and dented optimism. Our happiness is diluted and our peace is threatened by the financial illness that has infected our families, organizations and nations. Everyone is desperate to find a remedy that will cure their financial illness and help them recover their financial health. They expect the financial experts to provide them with remedies, forgetting the fact that it is these experts who created this financial mess. Every new year, I adopt a couple of maxims as my beacons to guide my future. This self-prescribed therapy has ensured that with each passing year, I grow wiser and not older.

This year, I invite you to tap into the financial wisdom of our elders along with me and become financially wiser.

Hard work: All hard work being 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 that you need.

Saving: 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 expense. A small leak can sink a large ship.

Risk-taking: Never test the depth of the river with both feet. (Have n alternate plan ready.)

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

I’m certain that those who have already been practicing these principles remain financially healthy. I’m equally confident that those who resolve to start practicing will quickly regain their financial health. Let us become wiser and lead a happy, prosperous and peaceful life.

Submitted by

Karthik Hariharan