Warren Buffet’s 9 Money Secrets
The World’s Smartest and Definately richest Man
If you have never heard of Buffett, Forbes currently ranks him as the third richest man in the world and he is arguably the world’s greatest investor. He has amassed his fortune by making astute investment decisions and investing in businesses. Here is what I have learnt from Buffett:
1. Rich Is A State Of Mind
“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.” – Warren Buffett
The difference between being poor and being rich is really just a state of mind. Poor people think thoughts of poverty and lack, rich people think thoughts of abundance and prosperity. Your beliefs are going to determine the way you perceive wealth, the decisions you make and the way you act towards it.
2. Success Is More Than About Your Bank Balance
When asked by CNBC what is the secret to success, Buffett replied “If people get to my age and they have the people love them that they want to have love them, they’re successful. It doesn’t make any difference if they’ve got a thousand dollars in the bank or a billion dollars in the bank… Success is really doing what you love and doing it well. It’s as simple as that. I’ve never met anyone doing that who doesn’t feel like a success. And I’ve met plenty of people who have not achieved that and whose lives are miserable.”
3. Spend Less Than You Earn
“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.” -Warren Buffett
It seems like common sense advice and you’ve no doubt heard financial experts preaching about it for years. You can’t possibly get ahead financially if you’re spending more than your paycheck. Buffett is famous for living a simple and frugal lifestyle. He is the only billionaire I know that still lives in the same house he bought back in 1958 for $31,500. He drove a 2001 Lincoln Town Car for years which he bought second hand. Buffett has a net worth in excess of $52 billion and yet lives off an annual salary of $100,000. The relative percentage of his spending based on his overall net worth is minuscule.
4. Avoid Consumer Debt
The sooner we realize that consumerism is a social plague that has been propagated by billion dollar marketing machines to keep you shackled to your job, the sooner we can stop spending money on useless stuff. It is a fool’s game to spend today so that you can work tomorrow to pay it off. It is a losing proposition because one day your working days are going to be over but the debt is still going to be hanging over your head. Clever marketing has convinced our society that to be happy you have to have more, be more and do more. Buffett abhors consumer debt instead choosing to use debt wisely by leveraging it in investments. To help you deal with your debt consider reading “How To Get Yourself Out Of Debt“.
5. You Are Who You Associate With
“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.” -Warren Buffett
If you want to succeed financially you need to associate with people who are most conducive to encouraging and cheering on your financial journey. If the people you associate with see money as evil, object to capitalism and find wealth a foreign concept then your financial health and well being is going to be influenced by their views. Whether we like it or not we are all influenced to some extent by the people we spend our primary time with. If you aspire to achieve financial security then you need to find a mastermind of people in your life whom you can all encourage and help each other.
6. Gambling Is A Fools Game
“Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.” – Warren Buffett
While we are young and naive we choose to take risks with our money that are dumb and stupid. Trying to hit a home run with your money every time is a losing proposition with long term consequences. To chase investments that offer a high rate of return you must also assume that it also comes with a higher rate of risk. Bill Gates once quipped “Warren’s and my betting has always been confined to $1 bets” when talking about them paying poker together. If two billionaires take risk management this seriously, it’s time we average punters did the same thing.
7. Give Back To The Community
“Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.” – Warren Buffett
They say that to have more you need to give more. A contradiction in terms, maybe, but it’s a simple truth that is as enduring as time. As the bible says “It is more blessed to give than to receive -Acts 20:35”. Buffett has announced in 2006 that he was giving away over $30 billion to the Bill and Melinda Gates Foundation making it at the time of writing the largest charitable donation in history. He also contributes large sums to his children’s charitable foundations.
8. Generosity and Abundance Goes Hand In Hand
“Even though Ben Graham [Buffett's mentor] had everything he needed in life, he still wanted to give something back by teaching, So just as we got it from somebody else, we don’t want it to stop with us. We want to pass it along too.” – Warren Buffett
A famous bible quote goes: “What benefit will it be to you if you gain the whole world but lose your own soul?” – Mark 8:36. The path to wealth isn’t a solo endeavor. How sad would life be if you come to the end of your life and there is no one to share it with. So as you journey on your path to financial abundance remember that there will be many people who generously helped you on your journey so it is only fitting to pay it forward when the opportunity arises. Generosity with your time, with your money, with your resources are great virtues to have. The greatest ally to building a strong friendship is to help others achieve what they want from life.
I leave you with this last quote “You only have to do a very few things right in your life so long as you don’t do too many things wrong.” – Warren Buffett
9. Work Smarter and Step Up
One does not have to work hard and work long hours. You have to work smarter than others and this includes working others harder, delegating routine and mundane jobs. Look at much much income you generate per hour and then focus on income producing tasks. Delegate all admin and non income producing task to others at a cheaper rate so that you can focus on making money. One needs to step up in life to only accept and deliver the very best. Do not settle for mediocre results coming average effort. Demand and Delivery nothing but your very best in all areas of life and life will give its very best back to you.
Categories: Ways to make money Tags: 9 laws of money, 9 money secrets, 9 principles of the rich, 9 secrets to money, 9 ways to make money, 9 ways to riches, Money, Secret, secrets of warren buffet, warren buffet, Ways to make money
Genius Ways to Make Extra Cash Fast!
Somehow if you’re in a money crunch (and who isn’t?), you can do one of two things: Sulk or go out and earn some extra dough. We vote for the second. Here, inventive ways to line your purse with a little more green.
By Esther Crain
1. Sell stuff on eBay. Clothes, exercise gear, books, housewares — anything you’ve got lying around that’s in decent shape can be put up for sale on eBay or another Internet auction site such as craigslist.org. Post decent digital photos of your items so browsers can really see what you’re pawning off; credibility is key to making a sale. Also, ask that the buyer pay the shipping charges, not you.
2. Become a dog-walker or pet-sitter. Rates for walking a single pooch at a time run from $10 to $15 per half-hour. If you critter-sit at a client’s house while they’re at work or on vacation, you can make even more dough. Post ads for yourself at veterinarian offices and the Humane Society, and put signs up at dog runs to spread the word.
3. Tutor struggling students. If you have strong writing or math skills (and the grades/résumé to prove it), check in with schools and learning centers and offer yourself up as a tutor. If you’re a college student or recent grad living near a university, contact the academic department of the subject you excel in and see if they’re looking for tutors.
4. Sign up with a temp agency. Even in tough times, temp agencies still have openings for office work or retail help during evenings and weekends, so you can work a regular job yet take on the occasional shift elsewhere. Yeah, it’s not the ideal way to spend a Saturday, but you can rack up at least a $100 for a day’s work.
5. Hold a mega-garage sale with friends. There’s strength and money in numbers. Combining lots of items for a blow-out rummage or stoop sale will bring in more crowds (and cash) than if you sat in your driveway with just your own wares.
6. Be a babysitter. Contact local churches and schools and advertise your kid-sitting services, using friends and family as references to vouch that you’re a natural with kids (if you know CPR, make that known as well). It won’t cramp your social life to spend a Friday night here or Sunday afternoon there minding some rug rats. Rates range from $10-$18 an hour, more if you take on a gig for parents in a pinch.
7. Get crafty. If you make crafts of any kind (knitting, jewelry-making, pottery, T-shirt designs, for example) advertise your goods on the superpopular site etsy.com. Listing yourself and what you can make is cheap, and you’re instantly connected to millions of shoppers worldwide looking to buy original, eclectic gear.
8. Personal shop for male friends and coworkers. If you love to shop and earn kudos for picking out great gifts for people, offer to hit the malls or go through catalogues and help pick out presents for the girlfriends, mothers, and wives of shopping-averse guys. They’ll be grateful for the time you save them, and they’ll have more trust in your instincts that the gift ideas you come up with will win raves. Consider charging 10-20 percent of the cost of whatever you’re shopping for, plus gas if you have to hit the road to get it.
9. Sign on with a catering company. Caterers have huge turnover and always need to recruit new reliable, presentable employees to work weekend weddings and parties as waiters, bartenders, and hostesses. You’ll earn about $12 an hour.
10. Take on seasonal work. Even when the economy sucks, business still goes up (though not as high as in banner years) for companies and stores during the December holidays. They may not be hiring as many people as when the economy was in top shape, but it can’t hurt to stop by your local mall and look into gift-wrapping and retail sales opportunities. Valentine’s Day, Easter, and Mother’s Day are also busy times for service and retail companies, and they’re prime time to reach out to neighborhood florists, who always need delivery help then.
Categories: How to make money Tags: 10 simple money making tips, 10 ways to make extra cash, 10 ways to make money, 10 ways to raise extra cash, inventive ways to line your purse, make extra cash fast, make money fast
The Secret 5 Ways to Money – Become Rich
Five Ways to Become Rich
By Brian Tracy
If you are really serious about becoming wealthy, there are five primary ways that fortunes are made.
Become an Entrepreneur
The number one road to riches, at the head of the list and on the top of the hit parade throughout U.S. history, is entrepreneurship, starting and building a successful business. Entrepreneurship includes every kind of business, from farming and trucking to real estate and computers. Seventy-four percent of self made millionaires in the United States, going back 200 years, come from self-owned businesses. An individual starts with an idea for a product or service, turns it into a business, builds it up from the ground floor, and as a result becomes wealthy.
Work Your Way Up
Another way to become rich is as a highly paid executive of a successful company, or as an employee of a company that awards stock options that become valuable. Ten percent of self-made millionaires in the United States are men or women who have joined large corporations, or companies that became large, and worked for these companies for many years. They usually work hard; were promoted and paid well; earned stock options, bonuses, and profit sharing; and as a result of holding on to that money, become millionaires and multimillionaires.
Become a Professional
A major source of self-made millionaires consists of professional people—doctors, dentists, lawyers, architects, engineers, and others with advanced degrees who can charge high fees for their services. These people earn their degrees and dedicate themselves to becoming very good at what they do, rise to the top of their professions, earn high incomes, and then hold on to the money. Ten percent of self-made millionaires in the United States fall into this category.
Get into Sales
An important source of self-made millionaires is salespeople and sales consultants. Five percent of self-made millionaires in the United States are men and women who are experts and at the top of their fields in selling. They never started their own businesses. Few of them went to college or earned professional degrees. Instead, they became very good at selling a product of service, and were paid well for doing it. In addition, they managed their money well, invested it intelligently, and made it grow until they were millionaires or better.
All the Others
The final 1 percent of self-made millionaires includes all the people who have made their money in the stock market, with inventions, in show business, through the authorship of books and songs, as lottery winners, and all other sources. Unfortunately, because this group gets so much publicity, many think they are typical of the people who get rich. The fact is they are quite rare.
Action Exercise
Project forward 10 to 20 years and begin imagining you perfect life. What would it look like? What steps could you take immediately to begin making it a reality? Join the six minutes to success program and begin the road to riches.
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Millionaire Awaken The Secret Think and Grow Rich Movie
Get in touch with Wendy Robbins -- nowheretomillionaire.com and workwithwendy@gmail.com. This is a clip from the new movie “Millionaire: Awaken Your Secret.” It’s based on Think and Grow Rich. This 6 minute clip has Michael Beckwith from Agape and The Secret in it, Mark V. Hansen from Chicken Soup For the Soul, Wendy Robbins, Martin Dunkerton, Horace from Aveda in it. There is good information about the secret and science of making money and spiriutality. You can buy the movie at www.nowheretomillionaire.com -- click on the link of the movie to order, and you can get The Tingler head massager there too! You can be an affiliate and make money, get a free newsletter, get 8 week coaching based on Think and Grow Rich principals. Please share it with as many as you can! It’s time for all of us to have plenty of money, to do what we want, when we want, with who we want and be able to give back big time -- get financially free!
Duration : 0:7:35
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