In this time of economic slowdown amidst the global financial crisis, financial guru Warren Buffet shares some views and wisdom which he uses to stay financially healthy. Let’s learn a thing or two from this world reknowned investor and grow healthier and wiser financially from here on too.

Warren Buffet

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.  Every new year, I adopt a couple of old 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 brings profit; but mere talk leads only to poverty.
Laziness: Sleeping lobster is carried away by the water current.
Earnings: Never depend on a single source of income.
Spending: If you buy things you don’t need, you’ll soon sell things you need.
Savings: Don’t save what is left after spending; spend what is left after saving.
Accounting: It’s no use carrying an umbrella, if your shoes are leaking.
Auditing: Beware of little expenses; a small leak can sink a large ship.
Risk-taking: Never test the depth of the river with both feet.
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 these principles will quickly regain their financial health.  Let us become wiser and lead a happy, healthy, prosperous and peaceful life.
Warren Buffet

Related Tips

• How to save money regularly and do it on auto-pilot mode
• 7 tips to de-stress during the economic downturn
• How to survive a falling lift
• How to do more and think out of the box
• Some last minute tips to save on income tax

This post is brought to you by: Useful Tips For Life

Words of wisdom from financial guru Warren Buffet