Warren Buffet’s 5 Life Tips

Below are 5 of Warren Buffet’s Life Tips I really liked and applied my views to them (LagosMums Views)

1. On Earning: “Never depend on a single income. Make Investments to create a second source.”

LagosMums View: We need to find avenues for passive income, there are lots of opportunities for this we just have to be creative, patient and discerning.

2. On Spending: “If you buy things you do not need, soon you will have to sell things you need.”

LagosMums View: This is simple buying things we don’t need are a waste of resources and end up leading to clutter. Practise self control so that we are not then in a bind when we really do need something.

3. On Savings: “Do not save what is left after spending, spend what is left after saving.”

LagosMums View: Pay yourself first, we can find that we spend more than necessary when there is no plan to save what we do have. Make a budget and stick to it!

4. On Taking Risks: ”Never test the depths of the river with both of your feet.”

LagosMums View: Don’t take un-calculated risks, be sure to have thought through all the pros and cons as much as possible…then step out in faith carefully.

5. On Expectations: “Honesty is a very expensive gift. Do not expect it from cheap people.”

LagosMums View: Honesty and integrity are priceless, there are some people who do not see the value in it no matter what. So steer clear of them and make sure that it can be used to describe you.

Source: addicted2success
photo source: thequestforgreatness
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