12 Warren Buffett's PRACTICAL FRUGAL LIVING Habits To SAVE MONEY FAST

In this video I’ll be sharing with you the 12 Warren Buffett's practical frugal living habits you must try to save money in 2023. These frugal habits are simple and very effective and will allow you to save money (up to $1,000 extra per month) fast and live a frugal life. Warren buffet’s frugal living habits are simple and we know they work because he was able grow his personal finance net worth to $107 billion dollars.

So, no matter if we are beginners are fully fledged entrepreneurs lets follow warren buffets advice, frugal living habits, hacks, tricks and ideas to improve our lives and stop leaving pay check to pay check, retire early and become financially free. Let’s take control of our personal finance, our budgets and our frugal habits.

Watch the video to find out more frugal living ideas and habits.

1. DON’T BUY A LARGER HOME JUST TO IMPRESS OTHERS. Be frugal like Warren Buffet. As “Buffett originally spent $31,500 for his Omaha, Nebraska, house, which translates to around $289,000 in today's money.

2. Warren buffet’s frugal living habit is to not upgrade your car unless you have to and consider a used car instead. Although Warren buffet could afford to drive a new car everyday, he chooses to keep his Cadillac sedan for multiple years.

3. Don’t buy luxury brands. "Don't save what's left after spending; spend what's left after saving."
The lesson learnt is to deposit the money into a high yield deposit account ,diversified investment portfolio or grow your emergency fund instead of wasting the money on non-essential purchases.

4. Warren Buffet recommends to stop smoking and drinking as they are quite expensive, neither of which are good for your health. They could result in future increases in medical expenses. Buffett is still alive today at the age of 92 despite never smoking or drinking alcohol.

5. Warren Buffet’s money saving idea is not Gamble: Warren Buffet avoided gambling because he had the belief that "The house always wins." He once bought a slot machine for his house and used dimes to pay his kids' allowance, knowing they wouldn't be able to resist the temptation of the slots and he'd get their entire allowance back the same day.

9. Don’t invest with borrowed money
Avoid making investments with borrowed funds. Given how simple it is to invest any excess money you have with the large numbers of investment applications, Warren Buffett once borrowed 25% of his net worth for investing, but he strongly cautions against doing this as he deemed it a mistake. Instead, avoid investing with borrowed money.

12. Use more cash
Although having a debit and credit card is quite convenient, this ease of use might lead to overspending. As a result, Warren Buffett decides to use cash instead. The only money you can spend is the money you have in your account, so using this Old-fashioned Frugal Living technique is a great method to ensure that you remain within your budget.

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ABOUT ME:
My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos are a reflection of my real-world experience as a student of life, finance, philosophy, psychology and entrepreneur. This channel allows me to share my finding of successful habits and strategies and share them with my viewers so that we can all optimise our lives, stress less and work towards financial independence and time freedom.

DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

[successexplained]

Check out: 101 Best Extreme Frugal Living Tips That Actually Work in 2023 (Money Saving Ideas)

[forwardtales]

Warren Buffet always has amazing advice.

[exhale_enthusiastic]

Some good tips, I'll have to start some of these.

[kamlogym]

Lots of valuable information and lots of good tips.

[jayden]

Warren Buffet using coupons really surprised me.

[itsjustdeli]

Honestly, you make good videos, with good content but you could use a better mic (you could use your phone or your headphones, they have a better mic than we think)