Buy quality and value
Buffett’s frugality is particularly evident in his investing style.
“Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down,” he wrote in his 2008 Berkshire Hathaway shareholder letter.
In particular, Buffett is a proponent of value investing, which is a strategy that involves buying stocks that are trading below their intrinsic value.
Interactive Brokers offers low commissions and margin rates, along with tools to find stocks that have that intrinsic value. You can get started in just a few minutes and with access to a range of tradable securities and global markets across 150 exchanges, users can easily diversify their portfolios with confidence.
Invest in real estate without the headache of being a landlord
Imagine owning a portfolio of thousands of well-managed single family rentals or a collection of cutting-edge industrial warehouses. You can now gain access to a $1B portfolio of income-producing real estate assets designed to deliver long-term growth from the comforts of your couch.
The best part? You don’t have to be a millionaire and can start investing in minutes.
Learn MoreGet in the habit of saving
It’s not easy to save money in today’s economic climate. Stubborn inflation continues to deplete savings and living paycheck to paycheck has become the norm for many.
During an episode of the Dan Patrick Show, Buffett was asked what he thought was the biggest mistake people make when it comes to money.
“Not learning the habits of saving properly early,” he replied. “Because saving is a habit … it's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.”
If you’re looking to save up and make the most of your money, you can do that through Acorns — an automated savings and investment app that puts your spare change to work.
When you make a purchase on your credit or debit card, Acorns rounds it up to the nearest dollar and invests the rest in a diversified portfolio of ETFs. Plus, when you sign up, you can get a $20 bonus to help get you started.
Forget that Lambo
If money is no object, what type of vehicle would you drive? A Mercedes, Bentley, or perhaps the prancing horse from Maranello?
Those might be what we think of as “rich people cars,” but you won’t find them in Buffett’s garage.
“You’ve got to understand, he keeps cars until I tell him, ‘This is getting embarrassing- time for a new car,” his daughter once said in a documentary.
Luxury cars often cost more to maintain and insure than economy cars. Instead of carrying a high car payment and insurance premium every month for that flashy sports car, look for value and longevity in your next vehicle and make sure you’re not overpaying on your car insurance.
BestMoney.com is an online platform that helps you find auto insurance coverage that works for you — and your wallet. They can help you find the most cost-effective coverage so you’re not paying more than you have to. Simply fill in a few details about yourself and your vehicle, and BestMoney.com will present you with a curated list of policy options in your area.
Maximize Your Savings
Discover the best option for your financial future. Whether you’re looking for higher returns or easy access to your cash, compare the benefits of CDs and savings accounts to find the right fit for your goals.
Learn MoreA better way to find value?
Buying value stocks isn't the only prudent way to invest. In an uncertain economy, veteran investors are still finding ways to effectively invest their money outside of the stock market.
Prime commercial real estate, for example, has outperformed the S&P 500 over a 25-year period. With the help of First National Realty Partners, these kinds of opportunities are now available to retail investors,not just the ultra-rich.
With FNRP, investors can own institutional-quality properties leased by brands like CVS, Kroger and Walmart and collect stable grocery-anchored income on a quarterly basis. FNRP’s team of experts manages every aspect of the investment process, making the allocation easy to keep track of.
Sponsored
Follow These Steps if you Want to Retire Early
Secure your financial future with a tailored plan to maximize investments, navigate taxes, and retire comfortably.
Advisor is an online platform that can match you with a network of vetted fiduciary advisors who are evaluated based on their credentials, education, experience, and pricing. The best part? - there is no fee to find an advisor.
