Accumulation of money

Below are the principles of accumulating money and sustainability:

1. Organize yor finance

2. Put your money to work (investment)

3. Limit debt to income producing Assets

4. Continuously educate yourself

5. Understand risk

6. Diversification is not just for investments alone; turn your talents into a money making venture

7. Plan for the unexpected because you will face unforseen circumstances.

Excellent tips by Warren Buffet

On earning: ” Never depend on a single income. Make investment to create a second chance “.

On spending: ” if you buy things you do not need, soon you will have to sell things you need”.

On savings: Do not save what is left after spending, but spend what is left after saving “.

On taking risk: ” Never test the depth of a river with both feet”.

On investment: “Do not put all eggs in one basket”.

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

Remember: it is not your money that makes you rich, it is your spending habits.

Please, share to benefit others.

Published by Ernest I.

Sharing knowledge

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