Unshakable Faith
You always hear that you should believe in yourself, and Warren Buffett is proof of why. He stated in interviews that he always knew he was going to be rich, and he never doubted it, not even once. The lesson here is that you have to believe in yourself if you want to achieve your dreams.
You're Never Too Young
When it comes to money, the earlier you start, the better. Buffett bought his first stock when he was 11 years old, proving you're never too young to start living your dreams. The flip side is that you can also live your dreams when you're older, too. Depending on what they are, those dreams may require more work, but if you have the drive and the passion, anything is possible regardless of age.
Start a Business
If your goal is to start a business, then do it. You're never too young or too old. As long as you have determination and focus, you can get what you want from life. Moreover, that conviction will go a long way in getting others to help you. Buffett saved all of his wages from delivering newspapers, and at 14, he bought a farm. Just go for it.
Wants Vs. Needs
Warren Buffett bought a small three-bedroom house 50 or so years ago, just after he married, and he still lives there as of 2014. He says he is happy there and it has everything he needs. One of his success principles is buying only what you need, not what you want, so this makes sense. Focus on your needs rather than wants, and be grateful for what you have.
Humility is Important
Money tends to change people, and it's the number one reason given for relationships ending, including romantic partnerships, friendships, and business associations. With that in mind, it's important to adopt a humble attitude. Buffett doesn't have a driver, security guards following him around, or anything like that. He drives his own car and he keeps it as simple as possible.
Live Economically
Did you know that Buffett owns the world's largest private jet company, but he doesn't travel by private jet? He prefers to live by the most cost-effective methods possible. He says that his grandmother used to tell him, "mind the pennies, and the pounds will take care of themselves." The idea is simple: watch out for the little stuff because it all adds up eventually.
Trust Your People
If you have employees, make sure they're the right people for the job so that you can concentrate on other things. Buffett writes letters to his CEOs once a year laying out the goals for the year and nothing more. He doesn't call regularly or hold meetings. If you can't trust your people, you'll never expand the way you need to for optimal success.
Focus on What is Important
At the end of it all, the most important things in life are family and friends, those people who stood by you as you made your wealth, and those people by you at the end of your life. Don't neglect these people in your pursuits. You can't take the money with you, but you can leave a legacy behind, so make it good.
Comfort is Important
Buffett has some advice for young people: don't waste your money on name brands you're not comfortable in. Don't buy for labels; buy for comfort. You are the one spending time in those clothes, so they might as well fit you the way you like. Don't let others define who you are or who you want to be. Stand out, be original, and just be you.
Gratitude
Buffett once said, "the happiest people do not necessarily have the best things. They simply appreciate the things they have." Show your gratitude for what you already have in life. This keeps things simple, and it leads to happiness. It's not about how much money you have or how much stuff you accumulate. Life is about being happy and spending time with your loved ones.
