Warren Buffett Explains: 15 Things POOR People Waste Money On!

Over his career, Warren Buffett has shared a TON of priceless financial advice aimed at helping everyday people just like you and me avoid the type of money mistakes that can cost thousands or even millions of dollars. In this video, I’ll share Buffet’s guide to 15 things poor people waste their money on. And if you can avoid these spending traps like he has, you'll skyrocket out of the middle class and join the wealthy, and help your kiddos do the same!

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About ME:
Hello! My name is Matt Matheson. I'm a teacher and school Principal by profession, but my passion is personal finance. After getting married and starting a family, the weight of responsibility hit me hard, so I made it my mission to dive into everything personal finance-related so I could equip myself with the tools to provide my family with a firm financial foundation. I dug into the topic so deeply, I became a personal finance writer and educator, and now it's my passion to share with you all of the strategies I've used to save more, invest wisely, find financial peace, and raise money rock stars!! I hope you'll join me on the channel!

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Disclaimer: I am not a financial advisor. This video, and the ideas presented in it, are for entertainment purposes only and should not be construed as financial advice.

This channel is all about personal finance and how to save money and raise generous kids. I include money tips, money saving tricks, how to save more each month, budgeting tips, how to budget money effectively, parents money tips, financial advice for parents, saving money, easy ways to save money, how to make a budget, ways to save money, financial tips, money saving tips, savings, and budget tips. When it comes to children and finances, financial tips, raising money-wise kids, and college these videos show ways you can save money and live life to the fullest. If you like personal finance and family money tips and money advice for parents, check it out!

[saywhatnow]

The taxes argument is silly. Outside of maxing out things like IRAs (which takes leftover money) you owe what you owe on taxes. There are not tricks to paying less taxes on the money you live off of. BUT that index fund advice is bar none the best investment advice for the average American. I realized that far too late (figured it out on my own) and it makes me angry to think about. Also, I'd love to see the math on purchasing a brand-new Toyota and driving it 10 years. We've done that three times and I think its saved us a ton of money. We know the cars are maintained. Have never had ANY real maintenance costs, and then the resale value after 10 years on our Toyotas has been insane.

[toomanymodz]

I grew up on welfare and lived in low income housing. I noticed that poor people spend their money on: soda pop. cigarettes, lotto tickets and booze.

[robertpesche]

Matt, do you think about what you say? Suppose someone makes $75, 000. Ten percent is $7, 500. Please tell me what three year old low mileage car you can find for that. You can't even get a Kia Forte for that, and if you have a family and need a larger vehicle, good luck. People need to live, these unworkable formulas like the one you give for car buying just don't allow for that.

[Sineadelle]

I’m favored, $230k every 4 weeks ! I can now afford anything and also support God’s work and the Church!!!