Tag : used cars
What did Warren Buffett say was the most important rule of investment? “Never Lose Money”. Now, Warren probably uttered this phrase with his trademark wry grin. It sounds simple, but if it were that easy to “never lose money” everyone would be rich, or at least no one would be poor. This is clearly an adage that most people do not follow or master. So how can we learn to hold tight to the money we have?
One key is definitely to look at every bit of money you spend as an investment. This is especially important for major purchases like your car, your home, even your bicycle. Before you buy, it is important to understand your goals for this item. How long do you want it to last? How often do you plan to use it? Can you maintain it or do you have to pay someone else to do so? For many years our friend Mr. Buffett drove a 2001 Lincoln Towncar, before selling it on Ebay for $70,000+. You may not be able to pull off that last miracle, but the event contains a lesson that all smart people should apply to their money.
Say you’re the one…Read more...