I just came across an excellent paper “Warren Buffett’s Advice for 2009”. He has advised us not to look up towards the financial experts to provide remedies for the financial crisis as these very experts have created the current financial mess. Mr. Warren Buffett gave a very sound therapy to overcome the current financial crisis and worth to follow:
Hard work : All hard work brings a 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 (Atleast make some
Investments to get you a second source of earning).
Spending : If you buy things you don’t need, you’il soon sell things you need.
Savings : Don’t save what is left after spending. Spend what is left after
Saving.
Borrowings : The borrower becomes the lenders’ slave.
Accounting : It is 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(Have an alternate plan ready).
Investment : Don’t put all your eggs in one basket.
Let us become wiser & follow his advise and lead happy, healthy, prosperous and peaceful life
Wednesday, May 6, 2009
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