Asked by Anonymous
Asked on 12 Dec 2018
What is the single most effective piece of financial advice you have ever received? Based on that piece of advice, it has changed the way you manage your finances and set you on the path that you are on today?
Every dollar counts! Since then, I've been trying to stretch every dollar which includes making smarter financial and purchase decisions and switching my savings account.
Dyodd (do your own due diligence)! That means to do your own research before you make any financial decisions! By doing this, it reduces the chances of making mistakes that can cost (literally and figuratively)!
My mother saves money in every way possible but her motive is not to just save money but to have a mind and ways ''how to earn money''. She says anyone can take your money from you but if you learn the method how you can earn money(and of course in legitimate ways) nobody can take it from you unless you give them willingly.
She struggled all life because she got married to not that rich family (though she belonged to a rich family, my father is amazing).
She never asked for money from her parents and she learned ways to make money and save money.
Now she has two houses, 3 vehicles including one car and much more.
Another one I love is from Mr. Warren Buffet
Rule No. 1 Never lose money Rule no. 2 Remember rule no. 1