Personal Finance Golden Nuggets by Warren Buffett
~ Monday, November 28, 2022 Blog Post ~
According to Warren Buffett, “Do not save what is left after spending, but spend what is left after saving.” The Oracle of Omaha surely made sense with his personal finance or money-related quote above, especially if you are a financially savvy consumer like myself.
Nonetheless, in the real world, people generally find it hard to follow through when it comes to saving portions of their hard-earned money. It is also common that people are unable to save money and wastes every financial year being a chance to put away some funds for the sunny and rainy days, their family’s and children’s future, and their retirement.
They have many reasons that make them fail to have a savings project or financial target for one year which they will work on to achieve. Of course, if people do not have bank savings, they consequently cannot invest.
Although regular savings accounts are a form of investment, the return of investment or interest rate is usually small compared to other investment types. Therefore, regular savings accounts cannot really help financially secure a person’s future.
Money is a highly sensitive issue and a huge responsibility. I’d love to write about the common reasons why people find it difficult to save money. I’ll find the time for that writing topic.
