Wednesday, February 25, 2009

Be Wiser, Not Older: How To Manage Your Money



We should grow wiser and not just older. Here are some great advise from Warren Buffet, an American billionaire, investor, businessman, and philanthropist:

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.

Hard work: All hard work brings 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.

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 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.

Those who resolve to act on these principles will quickly regain his/her financial health.

Let us become wiser and lead a happy, healthy, prosperous and peaceful life.