There are lessons from the Billionaires.
Warren Buffet...
one of the richest men in the world who lives more frugally than your average neighbour was asked on "CNBC: "What is the one thing that young people should be doing about money?" Buffett: "I tell them two things, generally.
One is stay away from credit cards.
The second thing I tell them to do is to invest in themselves.
This seems dead on target.
I know little of Warren Buffet's spiritual leanings but God gave in the parable of the talent according to ability.
It implies therefore that investing to enhance our abilities is very wise and would mean we can be more useful in putting God's wealth to His purpose.
Warren does not use credit cards.
Enough has been said on that.
While we do not need to agree with all he says...
Buffet also typically wisely advises (my additional comments in bracket) : 1.
Instead of consuming learn the habit of reinvesting your profits.
"Even a small saving can over time turn into great wealth," if you're disciplined not to spend your gains.
Reinvest rather than consume.
Save rather than spend.
(I would add...
do not be quick to consume your seed...
let it work for you...
find the best ground to sow your seed and also invest wisely for the long term - beware on spending on lifestyle) 2.
Be willing to be unique.
Don't follow what everybody is doing.
Do what feels right for you and your peculiar circumstance (...
and let God lead you in His peculiar way).
3.
Never get stuck in doing nothing.
Go after information and learn to act decisively.
(Doing nothing led the man with only one talent to end regretting in perdition.
Procrastination is the twin to the sin of unbelief - you will be criticised anyway either way...
so get busy.
) 4.
Understand what you are getting in to.
Read the fine print.
Understand what you're getting yourself into.
Do not pretend you understand the risks...
say No, if it is too complicated for you.
5.
Watch all expenses - particularly the small ones.
While it's true that the big things matter, the little things add up.
Live a frugal lifestyle.
(Faithfulness and discipline in little things count greatly with God.
) 6.
Get rid of credit cards and save.
Indeed, borrowing can get you into a fabulous home or a new car, but too much debt is one of the biggest drags on your financial well-being and is not the way to wealth.
Watch that lifestyle.
7.
Be persistent but also know when to quit.
If you know what you're doing is important and right, stick to it.
Doggedly pursue your goals.
Learn to fail forward.
(Be passionate, active and diligent...
moving forward and master putting the past behind)But if the indications say so be willing to cut your losses and walk away.
(God is a God of new beginnings...
enjoy His new starts in your life) Finally, remember to look up to God for inspiration and His divine directions also knowing that the increase will come from Him and not from our wisdom.
Cheerfully give more than 10% of your inflows and your time to Him in devotion and service and soon the rains will fall again.
Warren Buffet...
one of the richest men in the world who lives more frugally than your average neighbour was asked on "CNBC: "What is the one thing that young people should be doing about money?" Buffett: "I tell them two things, generally.
One is stay away from credit cards.
The second thing I tell them to do is to invest in themselves.
This seems dead on target.
I know little of Warren Buffet's spiritual leanings but God gave in the parable of the talent according to ability.
It implies therefore that investing to enhance our abilities is very wise and would mean we can be more useful in putting God's wealth to His purpose.
Warren does not use credit cards.
Enough has been said on that.
While we do not need to agree with all he says...
Buffet also typically wisely advises (my additional comments in bracket) : 1.
Instead of consuming learn the habit of reinvesting your profits.
"Even a small saving can over time turn into great wealth," if you're disciplined not to spend your gains.
Reinvest rather than consume.
Save rather than spend.
(I would add...
do not be quick to consume your seed...
let it work for you...
find the best ground to sow your seed and also invest wisely for the long term - beware on spending on lifestyle) 2.
Be willing to be unique.
Don't follow what everybody is doing.
Do what feels right for you and your peculiar circumstance (...
and let God lead you in His peculiar way).
3.
Never get stuck in doing nothing.
Go after information and learn to act decisively.
(Doing nothing led the man with only one talent to end regretting in perdition.
Procrastination is the twin to the sin of unbelief - you will be criticised anyway either way...
so get busy.
) 4.
Understand what you are getting in to.
Read the fine print.
Understand what you're getting yourself into.
Do not pretend you understand the risks...
say No, if it is too complicated for you.
5.
Watch all expenses - particularly the small ones.
While it's true that the big things matter, the little things add up.
Live a frugal lifestyle.
(Faithfulness and discipline in little things count greatly with God.
) 6.
Get rid of credit cards and save.
Indeed, borrowing can get you into a fabulous home or a new car, but too much debt is one of the biggest drags on your financial well-being and is not the way to wealth.
Watch that lifestyle.
7.
Be persistent but also know when to quit.
If you know what you're doing is important and right, stick to it.
Doggedly pursue your goals.
Learn to fail forward.
(Be passionate, active and diligent...
moving forward and master putting the past behind)But if the indications say so be willing to cut your losses and walk away.
(God is a God of new beginnings...
enjoy His new starts in your life) Finally, remember to look up to God for inspiration and His divine directions also knowing that the increase will come from Him and not from our wisdom.
Cheerfully give more than 10% of your inflows and your time to Him in devotion and service and soon the rains will fall again.