Powerful Lessons on Savings from Billionaires like Warren Buffett
There are plenty of powerful lessons on investments, with not many on savings, from great billionaires like Warren Buffett. So Singapore Savings Account Rates blogspot thought that it would be useful to develop powerful lessons on savings from billionaires like Warren Buffett to spice up our site.
This is only the first edition of ‘Powerful Lessons on Savings from Billionaires like Warren Buffett’. If readers enjoy reading it, we may create more powerful lessons on savings from billionaires like Warren Buffett.
What are these powerful lessons on Savings from billionaires like Warren Buffett that we had in mind? Here are the powerful lessons on savings from billionaires like Warren Buffett.
Powerful lessons on savings from billionaires like Warren Buffett:
1. Don’t Do Stupid Things With Your Savings
Not happy with miserable returns of 0.1% from your Savings that are 100% protected? Go ahead and blow away up to 100% of your capital investing in stocks, shares, unit trusts, structured deposits or any financial investment where your knowledge, and money making power, has large gaps.
2. Don’t Save Without An Objective
The objective of your Savings should be specific and achievable. Billionaire investors know their exit strategy before they start investing in any financial investment. In savings, you should also plan to save for a specific need to be achieved in a specific time frame with preservation of your principal deposits.
3. Don’t Spend More That You Save
Billionaire investors rarely invest more than what their bank Savings account have although they may use other people’s money and hedge their risks. Even with the billions that they earn, personal spending must fall below personal earnings in order to maintain or to raise their net worth.
4. Don’t Save on Impulse
No great investor worth his or her salt invests on impulse. You should also not get into a Savings impulse. Adopt a regular savings habit for maximum savings returns.
5. Don’t Save Without A List
Billionaires monitor their list of investments like a hawk (or at least employ others to do so). As a saver, you should also develop a list of bank Savings accounts to keep yourself tuned into the latest and best savings rates in town. This is because not all bank savings accounts are created equal and there are intermittent promotions on bank savings deposits interest rates from time to time that offer better rates. This is where Singapore Savings Account Rates comes into the picture. Singapore Savings Account Rates site was designed to help you do so.
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