We’re big fans of Warren Buffett here at the college investor. That’s no surprise – he’s one of the Top 10 Investors of All Time. That’s why I was excited when Fox Business Network wanted to share an upcoming exclusive interview with Warren Buffett, Bill Gates, and Charlie Munger with us here.
On Monday May 6th, Fox Business Network’s Liz Claman will be interviewing Warren Buffett, Charlie Munger and Bill Gates, along with students from three business schools:
- Columbia University
- Wake Forest University
- Georgetown University
The interview will take place commercial free on FOX Business Monday, May 6 at 9:30AM/ET – 10:20AM/ET. Tune in and you can hear what these three investors have to say about this question:
We’ve seen a bunch of records fall… Finally regaining and continuing to hit all time highs… Is it realistic for people to think we will simply go higher and higher?
A Reminder on How to Budget Like Warren Buffett
Budgeting doesn’t feel good when you’re planning it but when you succeed at it, it feels wonderful.
A great lesson Warren Buffett teaches is to never over extend yourself and never over-pay. Applying those principles to life isn’t too difficult!
Simple Mathematics: write down how much money you’ve got coming in from your job, your parents, your savings. Add it up.
Then in a separate column, add up your expenditures..
Everything from food to cable, cell phone bills, pet care, student loans, add it up and subtract from the first number. If you come up negative, it’s time to get some Soviet-era rationing in order! (I can say that, I come from Russian descent)
This is going to hurt but, if you’re spending more than you’ve got coming in, it’s time to cut the cable bill and cut out the fresh-squeezed orange juice. Find substitutions. The fact is, no one can be the disciplinarian but you.
Buffett isn’t cheap.. He’s frugal. I once called him and it happened to be Valentine’s Day. He was eating a roast beef sandwich, not Chicken Cordon Bleu. There’s a time and place to splurge but if the billionaire’s are saving money, maybe you should too.
Buffett waits for sales, meaning, he doesn’t buy stocks until they pull back to discounted levels. Try to apply that to your flat screen tv purchase and that suit you’re dying for.
Finally, make your new-found budgeting a way of life. Buffett has his principles and never forgets them. I’d say it’s worked well for him, and therefore should work for you too!