Warren Buffett: '14 Things POOR People Waste Money On!' FRUGAL LIVING, financial independence

In this video, Warren Buffett shares "14 Things POOR People Waste Money On!"

This video is a great reminder that financial independence is possible, even if you're not rich. Warren Buffett shares his tips on how to live a financially successful life without going into debt, which is a great lesson for all of us.

If you're interested in learning more about financial independence, or just want to hear some great advice from one of the richest men in the world, then check out this video!

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DISCLAIMER
We are not licensed financial advisers. These videos are intended for educational purposes only. No official financial advice is being given. Please always check with a licensed professional before making any investments or financial decisions. Your investments are your sole responsibility, and in these videos, I merely share my own opinions with no guarantee of gain or losses.

[jimschnase]

He forget storage units where people pay to keep junk they’ll never use.

[melodymartin]

As a "poor' person who is frugal a reminder it is not just poor people who waste money-they just feel the pinch more!!

[Patriciacraig]

Heard someone say the best season for a fin.ancial breakthrough is now, especially with inflation running at a four-decade high. I have approximately $350k stagnant in my port_folio that needs growth. What is the best way to take advantage of this downturn?

[joemancini]

The biggest waste of poor people’s money is paying taxes so rich people don’t have to.

[russallachka]

Where poor people's money is waisted on is to pay corporations such as insurance companies and hospitals. No matter how frugal people live one medical event can leave you homeless.

[geofjones]

I learned most of these money-saving methods when I was a teen, and have stayed with them. I used credit to buy cars and homes, but otherwise paid everything off immediately. My regular bills, like insurance, credit card purchases, utility bills get paid automatically in full each month. I keep enough cash in the bank to insure no overdrafts. Houses and cars were paid off ahead of time to save interest. I don't smoke, gave up drinking 40 years ago. I'm a long way from rich, but I know where my next bowl of beans is coming from.

[rd]

Even billionaires die. Spend on yourself while still alive. Don't live on credit, or beyond your means but enjoy life, u live only once.

[cleveedmondson]

People tend to forget life is short success is in the eyes of the beholder there’s no shame in being poor some of the poorest people are some of the happiest people and the richest Little things makes them happy I know because I’ve had it both ways just enjoy what you have

[marshaflorom]

Thank you ! I don't drink I don't gamble and I am recycling!! I am boring but not broke!!

[schrodingerscat]

1. new things
2. smoking
3. junk food
4. invest in self
5. gambling
6. restaurants
7. personal products
8. unused subscriptions
9. gym membership
10. car leasing
11. clothing
12. gadgets and devices
13. alcohol in bars
14. credit card debt

[lucyszoocrew]

I can honestly say this is so out of touch with reality... As a poor person ... There are some poor people who dont do any of these things and still live paycheck to paycheck... Nobody is exempt from losing a job and becoming homeless it can honestly happen to anybody even a richer person ... But at least us poor folks are better equiped to deal with it ... JS

[angelbulldog]

No credit cards, no debt. I pay 3 bills a month and other than groceries, I'm done. I don't eat out, I don't go to movies, I don't shop for entertainment and sport. Been retired for several years and at this point, simple works. Live close to the bone. That's the sweet spot.

[pmshah]

What every person must do regardless of his /her/its financial status, draw an indelible line with a clear head between WANTs and NEEDs.

[marthalewko]

We should all become more simple in life. Look how our parents survived with much less than we have now.

[williampalchak]

I've been called "cheap" by multiple bankrupt individuals. I laughed in their faces when I retired at 59.

[suezbell]

Don't go to the grocery store while hungry and don't go to the grocery store without a list or make impulse purchases.

[KiyosakiSays]

“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.” - Robert Kiyosaki

[jamesbaine]

The problem with common sense is that it isn't too common... It's always been an easy formula do not spend more than you make

[aleydalauria]

You're right, Warren Buffett doesn't spend money for personal products but his wife and kids do

[CincinnatiNostalgia]

One thing my father preached to me throughout my life was "Never borrow money from a bank, even if you want to buy a car or a house, if you do you will become a slave to the bank". In early times I didn't always listen to his advise, but I do now and I have a lot of extra money and I never buy things on a whim. that I regret later on. When my dad died at age 82, my family found out he was close to being a millionaire. He had a job throughout his life, that only paid him an average wages and he never bought any extravagant things throughout his life, but he did grow up in the great depression which taught him how to hang onto his money.