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Warren Buffett Money Lessons

Here’s money lesson advice from the millionaire Warren Buffett, who makes $37 million dollars a day.

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If you want to make saving a priority, take a look at how you budget.

Save FIrst

Don’t save what is left after spending; spend what is left after saving.

This might be Money 101, but it’s a lesson a lot of people don’t consider. Let’s say you have enough monthly income to cover your basic needs, and you want to start saving. Budget for your needs and bills, then figure out how much you want to save. Whatever is left is spending money.

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Save First – Axsmith Law Blog

Save Automatically

Paying yourself first is basically an automatic way to prioritize your savings. To do this, you can set up automatic monthly deposits into your savings account. And think of your savings and investments as a monthly bill, if that helps.

It’s not brilliant, but it seems to make sense. The money is put away automatically.

In other words, you can  have your automatic deductions from your check into various accounts:  paying bills, paying debt, savings, et cetera. And you learn whether you want to put what’s left towards taking cabs, or going to the beach … or medical priorities.

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Stethscope on pile of US banknotes

If you are having problems with debt, money, debt collection, foreclosure, debt relief, or need help with foreclosure mediation, phone Axsmith Law LLC at (202) 285-5415.

 

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