Advice on Money
Today I want to give you two pieces of advice on your money:
The first piece of advice comes from Warren Buffett, who is probably one of the most respected investors in the world.
The second is a short word of encouragement from me that can change your life.
Advice from Mr. Warren Buffett
Warren Buffett, one of the most successful investors of our time and currently one of the wealthiest people in the world, has the following advice on money:
On Earning:
“Never depend on a single income. Make investment to create a second source.”
In other words, invest your money. Over time you will build a wealth portfolio that will bring in extra income.
On Spending:
“If you buy things you do not need, soon you will have to sell things you need.”
In other words, don’t buy things just for the sake of buying them. Rather invest and build wealth.
On Savings:
“Do not save what is left after spending, but rather spend what is left after saving.”
In other words, save before you spend.
On Investing:
“Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”
The Warren Buffett strategy is a long-term value investing approach. Do not let fear and greed change your investing criteria. Do not be overwhelmed by outside forces that affect your emotions. Never sell in a panic. Be patient. Stick with your long-term plan.
On Strategy:
“Invest with a margin of safety.”
The margin of safety is reducing the risk of an investment. Be cautious. Make sure that you keep cash on hand for emergencies and opportunities that will arise.
On Spreading your Portfolio:
“Do not put all your eggs in one basket.”
In other words, diversify your investments.
On being Generous:
“Someone is sitting in the shade today because someone planted a tree a long time ago.”
Make a positive difference in other people’s lives. Be kind. Be a blessing.
On Vision and Hard Work:
In a previous post, I shared how Warren Buffett, while still at school, used to deliver newspapers to make money. Whether it was winter or summer, he would get up early and would put in a good few hours of work before heading to school. At the age of 14, he had saved up enough money to buy a 40-acre farm.
He is still investing. Warren Buffet will be 92 on 30 August. He is the chairman and CEO of Berkshire Hathaway and is one of the most successful investors of his time. He has a net worth of over $113 billion (as of June 2022), making him the world’s fifth-wealthiest person.
Work Hard. Aim high. You are not too young to start building for your future. A little determination mixed with hard work, a dream, and an action plan can lead to you accomplishing things beyond your wildest imagination!
My Advice to You
The best advice I can give you regarding your “Money Matters” is to invite God to be your CEO.
The LORD says, “I will guide you along the best pathway for your life. I will advise you and watch over you.” (Psalm 32:8)
Put God first. God is interested in you. He wants to see you excel.
God has all the resources. “The silver is mine and the gold is mine,’ declares the LORD Almighty.” (Haggai 2:8)
He also wants to walk the journey with you. He can help you. “… Remember the LORD your God, for it is he who gives you the ability to produce wealth.” (Deuteronomy 8:18)
He can lead you in the right direction and open doors of opportunity.
Jesus said … “My sheep listen to my voice; I know them, and they follow me. I give them eternal life, and they shall never perish; no one will snatch them out of my hand.” (John 10:27-28)
He wants to help you.
“Commit everything you do to the Lord. Trust him, and he will help you.” (Psalm 37:4)
So, put God first, and let God be your source.
Jesus said … “But seek first his kingdom and his righteousness, and all these things will be given to you as well.” (Matthew 6:33)
And remember, God is our provider.
In the Bible, it shows how Jesus fed over 5000 men and their families with a little boy’s lunch, and there were baskets of leftovers. (Matthew 14:13-21)
Once he was at a wedding and they ran out of wine. He turned water into wine so that the wedding celebrations could continue. (John 2:1-11)
When experienced fishermen had been out fishing all night and had caught nothing, Jesus told them to launch into the deep. These fisherman’s lives were forever changed. That day they caught such a large catch that they nearly sank their boat. (Mark 5: 1-11)
God can turn the tide. He can do all things. Nothing is impossible for Him. Put your hope in him. No situation is so far gone. No need is too small. God calms storms. He can provide for your needs. He can make a way.
Invite him to be your Saviour and CEO.
Do you know Jesus as your Saviour and as your Provider? He made a way for you to share eternity with Him, and He doesn’t want you to face the journey of life alone. He wants to do life with you, through the tough times and the good times.
God saw that man was separated from Him, so He even sent His Son, Jesus, to pay the price for you and me on the cross, so that we can come into a relationship with Him. This is not based on our performance but on what Jesus did on the cross. This relationship ensures that you and I do not need to face life alone, and this relationship continues into eternity.
If you do not know Jesus as your Saviour, why not invite Him to be your Lord and Saviour? Give Him your life, along with your burdens and concerns. He wants to be your Savior and your source.
Let’s Pray
Father, thank you for sending Jesus to rescue me. Jesus, I ask you to be my Savior. Thank you for the price you paid on the cross for me so that I can be set free and come into a relationship with you. Today I put my life in your hands and I thank you that you are my Savior. Father, I ask you to give me wisdom and revelation and to open up doors of opportunity. I ask this in Jesus’ name. Amen.
Lift the lid. Attempt great things. With God at your side, you can face tomorrow. He can also empower you to prosper.
God bless you.
