successful people often do what failures dislike everyone lives according to their habits some affect your life but there are also those that directly impact your wallet most of the time people don't realize the negative financial habits that repeatedly deprive them of any chance of success I believe it's possible to get rid of bad financial habits and replace them with good ones this is the only way to increase the amount of money in your life so if you want to know more keep watching this video and comment like this I will get rich when I see
your comment I'll give it a little heart because I know you'll be rich soon I live quite modestly I still live in a house I bought for 25,000 Rees in 1957 I prefer regular Transportation over a private plane and play bridge instead of Billiards it's this unexpected combination of immense wealth and a simple life that attracts world wide interest I chose my own path and no one bothered me at 5 or 600 in the morning besides I've always enjoyed reading my aunt gave me the World Almanac which I still have and I read my first
investment book in My Father's Office to this day I dedicate 5 to 6 hours daily to reading the decline in business in the second half of the 20th century taught me a lot furthermore I tirelessly monitor market trends and willingly share some value valuable advice to help people tread the path to wealth when it comes to making money timing is the most important factor you don't need to be very smart you just need patience have you ever imagined uncovering the secrets of the world's greatest Minds with no effort it may sound incredible but now it's
a reality with our kit of 100 summarized books including audio books and PDFs of the most valuable Parts learning has become more accessible than ever don't miss this opportunity get your kit by clicking the first link in the description I want to draw your attention to the monetary habits that I actively use a healthy habit can easily become the foundation of your wealth even if your wallet is currently empty the first habit is to spend wisely at first glance it may seem trivial but according to statistics more than 65% of people don't know how to
spend money properly I've said many times that people tend to think about where to spend money they haven't earned yet in this case I advise evaluating future purchases not in terms of money but in the number of hours you spend earning that money ask yourself how many hours a month do you work and how much money do you earn with that calculate how much an hour of work is worth and compare it to the price of what you want to buy if you earn 10,000 re but want to buy a new Tesla worth at least
300,000 R question whether it's worth it before you start saving for it it's important to keep in mind that I encourage people to plan all earnings and expenses regardless of how much they earn or spend the problem with a million dollars is that it's a lot of money you have to keep track of it or it will simply disappear and you won't even know where it went the second habit is to let money work for you instead of storing a little extra money in a piggy bank you need to understand how the investment mechanism works
if you simply save your money it will decrease as inflation reduces the real purchasing power to avoid this at the very least you should transfer the money into a savings account with interest rates higher than inflation but that's not enough to make money you need to invest it but you need to consider different investment options to avoid losses saving doesn't necessarily mean investing your money in stocks start today by understanding the investment mechanism itself I assert this set aside time regularly to learn about Finance read news about the subject every day instead of scrolling through
Facebook or Instagram in the morning spend 10 to 20 minutes on useful reading and analyze what's happening with stocks daily it's true that the return on stocks of US tech giants like Facebook and Google is 30% per year isn't it great that social networks can not only consume your time but also provide a wealth of information before continuing I'd like to ask you to support this video by giving it a thumbs up after all your activity can help more people learn about this useful financial information the third habit is working in unusual conditions this advice
may seem quite strange coming from me though I myself am an avid evaluator of world Market situations while sitting in a McDonald's not in my office chair I've always Associated money with major problems that needed solving for that you need to be able to see things from a different angle a good confirmation of this is the story related to Albert Einstein in 1905 Einstein published four scientific papers that changed the foundations of modern physics and our understanding of space time and matter interestingly he didn't write them in a physics lab or his office but in
the Swiss patent office working in such an environment allowed Einstein not to be fixated on laboratory methods if you read what everyone else reads you'll think like everyone else and if you think like everyone else you won't be able to bring anything new or unique be curious seek obscure sources and study what no one else has studied this will be truly valuable to others I'm known for my simple but profound Financial wisdom I believe people usually spend their money on absolutely stupid and unnecessary things thus blocking their path to success to correct these common Financial
mistakes you can drastically change and become wealthy first poor people often neglect personal development I believe the best investment you can make today is in yourself improving your skills and getting a quality education can significantly increase your income While others look for knowledgeable individuals they often don't have time to educate themselves they want to find someone who already knows what to do and that person is willing to pay very well for it if you want to be self-sufficient business and process competency will never be excessive when starting your own business your Knowledge and Skills are
assets no one can take away from you try to gather as much as you can using credit cards is the second mistake all poor people make of course credit cards can be convenient and useful especially when you want to buy something and don't have enough funds but credit card interest rates Eclipse absolutely any benefit if you forget to pay your debts on time sit down and calculate how much you might spend in a year to pay off all your credit card debts I recommend cutting this part of your expenses first you'll stop spending more than
you earn and save a good amount of money which can be used for your education for example bars and restaurants are one of the most problematic practices if you've decided to get rich you should forget about this type of luxury especially in the phase where you're walking toward Financial Freedom while we are all human and socializing and having fun is an important part of our emotional well-being your financial part will benefit if you to give up these luxuries unused gym memberships are another expense for the poor did you know that statistically 80% of people who
buy a membership quit going to the gym nowadays cheap offers from gym chains are very common claiming you can buy an annual or semiannual membership at a very attractive price in the end most people stop going to the gym it may seem like you saved a lot by buying a cheap membership but in reality you lost by not using it I encourage leading an active lifestyle but warn against this type of expense if you're one of those people who bought an annual membership and then stopped attending first try exercising for free at home or Outdoors
or consider a monthly membership that forces you to train that month subscription services are also a financial mistake of the poor regularly check and control what you're subscribed to often Services offering a promotion require you to provide your credit card information then when the free trial period ends they charge unexpectedly take the opportunity to cancel automatic renewals then forget again and you'll be charged again control your subscriptions if you have something on offer set a reminder to disable the renewal at the end of the offer the following Financial mistakes are the fundamental downfall of many
people pay close attention to them but before that give give this video a thumbs up if you want to achieve impressive financial success this thumbs up will be the first yet most important step on the path to wealth one mistake is gambling while it may seem like a shortcut to increasing income I emphasize the importance of understanding the odds of success in gambling I encourage people to make financial decisions that benefit their lives in the longterm instead of focusing on short-term wealth options many people have gotten burned doing exactly that it's good to stop when
you're lucky and this process can happen repeatedly it's important to be able to stop I'll also mention smoking as a simple calculation can show an amount of thousands of Rees I'm known as one of the greatest investors of all time which means I know what to do to multiply my Capital it's important to mention that besides practical Financial advice I emphasize important human qualities that need to be developed if you truly want to be rich speaking to students I once said from every paycheck save and use programs that show the percentage of your monthly expenses
in different product categories never lose money rule number one never lose money rule number two never forget rule number one it may seem like a strange recommendation after all almost no one thinks losing money is a good idea but it's very wise and practical advice avoiding risk as much as possible is essential to being successful and living happily avoid risk whenever you can to be successful and live happily never risk what you need for what you want I myself follow this Rule and have never made risky Investments the difference between successful people and those who
are truly successful is that those who are truly successful say no to almost everything another suggest question my company always has about $20 billion in cash ready to be used at any moment this may seem irrational and goes against the general principle of Finance which is to invest money and not keep it under the mattress but it's what saved my company during the 2008 crisis money for a company Is Like Oxygen for the body you never think about it when you have it but you only think about it when you don't when you don't have
it dollars are are in a way more reliable than checks this rule is especially important for those with irregular income unnecessary debts credit cards installment loans mortgages all of this will lead to a day when loan payments exceed expenses and there's no money left I've seen many people fail because of alcohol but I've also seen many go bankrupt due to an excessive desire to spend if you're smart you can make money without credit pay attention to small expenses I always pay attention to small expenses and only trust frugal people an interesting case that made me
reflect on small expenses occurred in China there my friend Bill Gates and I went to a local McDonald's to have a coffee I insisted on paying the bill and to everyone's surprise I pulled out some discount coupons I had brought from the United States to partially pay for the meal and save money think in terms of a decade not a month most people make the same mistake of trying to make the most of the present moment don't seek quick profits successful investing requires time discipline and patience no matter how talented you are or how hard
you work some things take time you can't have a baby in a month by getting nine women pregnant think in terms of decades gradually accumulating the necessary amounts for your children's education or your retirement read everything you can about Finance go to bed at night smarter than when you woke up in the morning much of my work as an investor involves minimizing risk and reducing costs and what's the biggest risk for a normal person not a financial expert it's when you don't know what you're doing the more you learn about money and its laws the
greater your financial literacy will be you'll be able to manage your money better and know how to make the most of it no matter how much you have money isn't everything some m material things have made my life happier but if you have too many they will do the opposite I wouldn't give up a plane but half a dozen houses are a problem in my opinion it often happens that a large number of possessions start to own the owner therefore don't forget about other equally important values such as health without it success is impossible the
same goes for friends I consider my friends to be the most important after Health be brave in 19 51 when I was under 20 years old I took a train to Washington DC and knocked on the door of the headquarters of goco insurance company where Benjamin Graham my future Mentor worked my bold appearance in Graham's office led him to give me a 4-Hour lecture about the insurance industry Graham became a consultant for gico and I remained connected to the company for years afterward today Burkshire Hathaway my company owns G Eco and berkshire's insurance interests are
what I call one of the company's crown jewels if I hadn't dared to show up at jao that day 72 years ago none of this would have happened boldness has its rewards make tough decisions early Burkshire Hathaway's main Market was textile factories I had supported them for many years but in 1985 I sold the factories because the business was no longer profitable it was a tough decision for me but important for future success for example it's more profitable to give up expensive vacations and invest in a retirement fund the path to financial success for any
wealthy person is paved with tough decisions before sleeping almost all poor people fail to do this planning every night before going to bed write a list of the most important things you need to do in the morning to achieve success and analyze what you did during the day draw conclusions and adjust your direction write down the tasks and in the morning in your head and on a piece of paper you'll have a ready-made plan R May a famous psychiatrist wrote a wonderful book called Man's Search for himself in this work he States a very profound
truth the opposite of courage in our society is not cowardice but rather Conformity this is the Great great challenge we face today Conformity people are imitating those around them without understanding Why without having any notion of their true destiny most people do not have clarity about the path they are following they really don't and you don't need to be a genius to notice this take a moment and observe how people conduct their lives how they behave talk walk act and even how they dress all these behaviors indicate that there is nothing but confusion in their
minds have you ever imagined how the company and environment in which you live can shape your journey towards success carefully evaluate who the closest people to you are comment I choose my company wisely leave this comment and I will give you a heart ensuring that you are on the right path to a prosperous and Abundant Life now that you have commented let's continue very few people have highlighted that the environment around you has more influence than your own genetics it is essential to closely observe your actions and the people you spend your time with I
am extremely careful with whom I spend a good period I don't believe I am Superior to anyone in fact I know I am not better than anyone else I know we are all equal part of the same script this means we are all equal sharing a collective mind but there are many people who do not understand that they have the same potential potential for success as those who are thriving in life as a result they do not see themselves achieving great feats to be more specific imagine how much today's society values appearances imitating Fashions and
behaviors without reflecting on their own desires social media for example shows an endless parade of lives that seem perfect but are often devoid of true authenticity people fit into patterns because they are afraid of being different or not being accepted this is indeed a clear reflection of the Conformity that ROM May mentions the problem is that by blindly following what others do people lose the sense of their own individuality and it is in this loss that the greatest danger lies they end up not knowing who they really are or what they truly desire therefore it
is of utmost importance that each person takes a pause and reflects on their own life it is essential that each of us has the courage to go against the tide to seek what we really want and not settle for what is easy or comfortable true courage lies in being yourself in a world that constantly tries to make you fit into a predefined mold it is a challenge no doubt but it is a necessary challenge if we want to live truly meaningful and authentic lives I refuse to waste my time with people who do not have
clear goals in mind I want to avoid as much as possible being alongside those who do not know exactly which path they are following I also prefer to avoid those who are satisfied in a comfort zone because this can influence me to become the same we are really secondary characters in our own movie watching the stars but not seeing ourselves as the main star you are the star of your own movie you are the Victorious main character in your own show what Shakespeare mentioned all the worlds a stage is correct however some people act as
if the performance is already over and wait for the end without doing anything if you cannot see what needs to be done you need to trust you must start acting like the person you wish to become from now on moreover you must be aware that some people around you might question who do you think you are are you kidding people with false Behavior might mock you for your attitude I went through this when my financial situation changed some whom I considered friends stopped talking to me of course now you are making that money but what
do you intend to do with it well I intend to enjoy it my wife is in better conditions than I was but you buy a new car and they say now you are showing off and it's evident that you probably want to live in a new and beautiful house and the old one wasn't it good enough for you you need to be prepared for these reactions it is essential to develop mental strength because in the beginning these attitudes can hurt and bother people will try to pull you back to where they are now if you
are a negative person that is if you tend to cling to thoughts of worry fear and anxiety do you know what you attract only people who operate on the same negative frequency you will attract other negative people misery loves company isn't that what they say birds of a feather flock together and successful thriving people tend to attract each other they attend the same events take similar vacations Drive similar cars live in similar neighborhoods now if you are not yet one of them how do you become one mix with those people choose your environment that was
exactly what I did 27 years ago I was sitting in a park in Toronto spending my time and money there I even borrowed when I didn't have and didn't return I had many debts at that time one day I took a cup looked around and thought everyone here is unemployed and they were so I concluded wow I must be unemployed too because I'm always here I'm one of them they are part of me do you know what I did I put the cup on the ground and decided I will never come back here as long
as I live and I never did never again who can imagine the role that the people around us and the thoughts that go straight into our our minds play in our lives we want to surround ourselves with people who achieve things many years ago I started reading Think and Grow Rich and followed the advice of a person named raymon Douglas and I Faithfully followed What Raymond said do you know what happened I started getting closer to people like Raymond and other successful ones my income increased and I became a happy person I like being with
these people nobody likes being alongside someone who is always complaining we like creative people with big thoughts and goals who help us grow the people around us have a phenomenal role in our success carefully observe The Five People You spend the most time with ask the following question if I have children do I want them to be like these people if the answer is no I suggest you start looking for new friends if the answer is yes then you are already surrounded by the right Circle the people around us impact our lives in a phenomenal
way and contribute to our personal and professional growth when you begin to realize the power that the environment external influences and Company have over your life you understand the importance of carefully choosing with whom you spend your time this doesn't mean being selfish or snobbish but rather being aware that your aspirations dreams and even your emotional well-being depend on the vibrations and energies of the people around you be selective with the people you interact with surround yourself with people who encourage your growth who believe in you and who above all do everything to help you
grow and prosper these are the people who will contribute to you becoming the best version of yourself sometimes this process involves letting go of old friendships or relationships because some can be toxic or detrimental to your development if you find yourself in a circle of people who are always complaining who lack ambition and who do not seek to improve reflect on the impact this has on your life these people might be draining your energy and hindering your progress it is hard but necessary to distance yourself to be able to grow of course this distancing doesn't
need to be abrupt it can be gradual and respectful a vital aspect of your growth is self knowledge knowing yourself is a continuous Journey that requires deep reflection constantly ask yourself who am I what do I really want from Life what are my values and principles when you have Clarity on these questions it becomes easier to align yourself with people and environments that resonate with your true self your environment is not just made up of people but also places and activities if you wish to change your life change your daily routines include activities that promote
your personal growth such as reading meditation physical exercises and creative projects these activities help you stay focused and maintain a positive mindset if you find yourself in a negative environment make a conscious effort to change it it could be something small like reorganizing your workpace or something bigger like moving to a new neighborhood or city the important thing is to create an environment that inspires and energizes you remember that you are the author of your own story you have the power to choose what happens in the next chapter don't let the fear of the unknown
or social pressure impose limits on what you can achieve trust your instinct follow your heart and keep faith in your own potential in this journey resilience is crucial there will be moments of Challenge and adversity but remember that it is in these moments that you have the opportunity to grow even more face obstacles as valuable lessons and use each experience as fuel to keep moving forward be grateful for what you have but never stop seeking more gratitude attracts more good things into your life appreciating what you have already achieved no matter how small it may
seem creates a mindset of abundance in summary the achievement of your goals and the realization of your potential potential depend deeply on the influences around you and the choices you make daily Choose Wisely with whom you spend your time where you invest your energy and how you structure your environment the power to transform your life is in your hands open yourself to New Opportunities surround yourself with positive influences and always remember you are the star of your own movie make that movie amazing
