How to make and spend money: tips from people who know a lot about it

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

Henry Ford, Robert Kiyosaki, Bodo Schaefer and other successful people on how to achieve wealth.

1. Henry Ford, American industrialist, inventor

The legendary industrialist, automobile factory owner and inventor was optimistic. He believed that one should always learn, despite his age, he was constantly looking for new approaches and was not afraid of difficulties.

Money for Henry Ford was a source of new experience and knowledge. That is why he advised to invest in yourself - this is the only way to achieve success.

Tips from Henry Ford

1. If money is your hope of independence, you will never become independent. The only real guarantee that a person can get in this world is his stock of knowledge, experience and capabilities.
2. The secret to success and wealth is being able to understand other people as well as yourself. You need to learn to look at every case with your own and others' eyes. Different points of view will give one correct one.
3. Old people teach us to save money, to procrastinate for better times. This is very bad advice and not worth listening to. Don't hoard pennies in the bank. Invest everything in your development. Until the age of forty, I did not save a single dollar, everything was invested in further development.

2. Warren Buffett, American entrepreneur, investor

Warren Buffett is considered the greatest investor of all time. His triumphant ascent to the financial Olympus began with 10 thousand dollars and the founding of an investment company in the 60s of the last century.

Today Buffett is one of the richest people in the world (his fortune is estimated at 77.3 billion dollars) and the largest philanthropist. He is called a seer and an oracle from Omaha - the city where he was born.

The main secret of how to achieve long-term success, according to Buffett, is this: you need to follow certain principles and show patience and frugality.

Warren Buffett's Tips

1. Buy only what you would love to own if the market closes for ten years.
2. I don't care if it's about socks or promotions: I like buying quality products at discounted prices.
3. Constantly postponing looking for a good job and sitting on the one that depresses you is like putting off sex until retirement.
4. If you have a choice, it is far more important to say no than yes.
5. I always knew that I would be rich, did not doubt it for a minute.

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3. Robert Kiyosaki, American businessman, writer

Robert Kiyosaki has not always been successful. He worked as a sales agent, then started his own business. But in the 80s he lost everything and, in his words, "began to consider himself a failure." That is why one thought is often repeated in his advice: to come to success, you need to believe in yourself.

15 years later, together with a partner, he founded the international educational company Rich Dad`s Organization, which taught business and investment. At the age of 47, Kiyosaki wrote the bestseller Rich Dad Poor Dad. He is now the author of nearly three dozen books. The businessman's net worth is estimated at $ 80 million.

Tips from Robert Kiyosaki

1. First of all, you need to look at value, not price.
2. If you cannot see yourself as rich, you will never be able to achieve it.
3. The word "impossible" blocks your potential, while the question "How can I do this?" makes your brain work to its fullest.
4. Saving money is good advice for the poor and average person. This is bad advice for building wealth.
5. The key to wealth is making difficult things easy. After all, the goal of business is to simplify life, not complicate it. And it is the business that makes life as easy as possible that allows you to make the most money.
6. The most valuable asset is time. Most people cannot use it correctly. They work hard to make the rich richer, but they don't make the effort to make themselves rich.

4. Bodo Schaefer, financial consultant, writer

Bodo Schaefer is called the financial Mozart: he is considered one of the best practitioners in the field of time management and financial management. As a child, Schaefer promised himself to make his first million by the age of 30.

At the age of 16, he went to conquer the United States, then moved to Mexico. At the age of 26, he became a complete bankrupt. But this did not break him.

Schaefer found a teacher who helped him develop financial literacy and become successful. When he turned 30, he really had already earned his million and could live on interest from the accumulated funds. Today Schaefer is the author of many books on finance and time management.

He refers to money simply: it is not an end in itself, but a means that helps buy time to achieve freedom, independence and happiness in life.

Tips from Bodo Schaefer

1. Wealth is not brought in by the money you make, but by the money you save.
2. There are two ways to become happy: to limit your needs, to increase your opportunities. The wise man does both.
3. Money remains only with those who are ready for it.
4. We must do, not try. Whoever wants to try is ready for failure. And in the end, he doesn't succeed. Trying is simply to justify your failures in advance, to excuse them in advance. There is no attempt. Either you do something or you don’t.
5. The more I train, the more lucky I get.
6. A person without faith in himself does nothing, he has nothing, and he is nothing.

5. Mark Cuban, American entrepreneur, billionaire

Mark Cuban's story is amazing. He grew up in a simple family, made his first business deal at the age of 12. Mark sold trash bags to buy a pair of basketball shoes.

Cuban was already at school moonlighting as a party organizer, bartender and dance instructor. To pay for college, he collected and sold postage stamps. He started up the career ladder with a bartender and a salesperson, and then created his own company selling software products.

Now the fortune of Cuban is estimated at 2.3 billion dollars. He is called an amazingly intelligent and far-sighted person who is sure that dedication and work pay off a hundredfold.

Tips from Mark Cuban

1. If you want to, you can quickly discover what is the best way to save money on personal expenses. Becoming a smart shopper is the first step to being rich.
2. It doesn't matter how you live. It doesn't matter what car you drive. It doesn't matter how you dress. The more you think about money, the harder it becomes to focus on goals. The cheaper you can live, the more options you have.
3. It's not about money or connections. It's about your willingness to do better and learn more than others. If it doesn't work out, you take lessons from it and do better next time.

6. Howard Schultz, American businessman, head of Starbucks

Howard Schultz was born into a simple family in Brooklyn. After graduating from college and working for several companies, he took a job at Starbucks. It is said that Howard persuaded the owners of the company to give him the CEO post for a small salary, only because he believed that he could achieve resounding success.

And he did it. Starbucks is one of the most famous coffee chains in the world today. Schultz's fortune is estimated at $ 2.9 billion.

He treats business as an important mission. Its implementation, according to the billionaire, is what you need to dream about.

Tips from Howard Schultz

1. Dreaming of something small, you will never succeed in something big. Who needs a dream that you can reach with your hand?
2. If you say you never got a chance, you probably just didn't take it.
3. Failure may well overtake you unexpectedly, but luck comes only to those who plan it.
4. Great things are never accidental.

7. Thomas Stanley, William Danko, authors of "Your Neighbor is a Millionaire"

The book's bestselling authors began researching how people get rich 20 years ago. Stanley and Danko have traveled almost all over America and come to the unexpected conclusion: many of those who live in expensive houses and have luxury cars are not so rich at all. Wealth is rarely created by luck, inheritance, academic degrees, or even intelligence. More often than not, wealth is the result of hard work, planning, and self-discipline.

Tips from Thomas Stanley and William Danko

1. Wealth and income are two different things. If you earn a lot and at the same time spend everything you get, you are not getting rich, but simply living widely. Wealth is what you accumulate, not spend.
2. What are the three words to describe the rich? Thrift, frugality and again frugality.