Excellent Tips from Warren Buffett

Warren Edward Buffett is an American business leader and is one of the world's wealthiest persons. Buffett described him as "I am 15 percent Fisher and 85 percent Graham." Warren Buffett is known for his valuable and inspiring thoughts on life, generosity, money management and investments. His life is one of extraordinary wealth built on exemplary character traits.

  Personal finance tips from Warren Buffett

1. Spend wisely - "If you buy things you don't need, you will soon sell things you need."
2. Don't borrow money - "If you're smart, you're going to make a lot of money without borrowing."
3. Think long-term and be patient - "No matter how great the talents or efforts, some things just take time."
4. Overcome your fear of risk - "Risk comes from not knowing what you're doing." "Never invest in a business you cannot understand."
5. Save for the unexpected - "Someone's sitting in the shade today because someone planted a tree a long time ago."

Meaningful quotes of Warren Buffett:

'Price is what you pay.
 Value is what you get'.

'The rich invest in time;
The poor invest in money.'

'Without passion, you don't have energy.
Without energy, you have nothing.'

'Life is like a snowball. The important thing is finding wet snow and
a really long hill.'

'The happiest people do not necessarily have the best things.
They simply appreciate the things they have.'

Tips for financial planning

1. Budget - If you do budgeting  as part of your financial planning and you will realize saving is not so hard.
2. Spend less than you earn - discipline yourself to spend within what you earn. Make savings an important part of your financial planning.
3. Invest - Financial planning means you are saving for the future. So invest for a better future.
4.Mind your debt - Credit  card debt is one of the biggest obstacles in financial planning.
                             ('Debt is the slavery of the free'  - quoted by Publilius Syrus).

Financial Independence 

"To become financially independent, you must turn part of your income into capital;

  turn capital into enterprise; turn enterprise into profit;turn profit into investment; and

  turn investment into financial independence."         - Jim Rohn

Food for thought

"It is not your salary that makes you rich
 it's your spending habits."  - Charles A. Jaffe.

"We make ourselves rich by making
our wants  few." - Henry David Thoreau.

"A man's treatment of money is the most
 decisive test of his character - how he makes it
 and how he spends it." - Moffat.

"A wise man should have money in his head,
  but not in his heart." - Jonathan Swift.

"The art is not in making money, but in keeping it." -Dutch proverb.

"Money grows on the tree of patience." -Proverb.

"Money without brain is always dangerous." -Napoleon Hill.

"Money is the barometer of a society's virtue." -Ayn Rand.