The best Warren Buffett quotes on money should have major significance for many people, given the fact the man is a legend of the financial world and boasts a storied history of success. When Buffett speaks about money, you should listen, and listen well. After all, the many has more of it than just about anyone in the world, boasting a fortune of $67 billi0n as of September, 2014, according to Forbes. That makes him the second richest person in the U.S behind only Bill Gates, and the third richest in the world behind Gates and Mexico’s Carlos Slim.
Saying that Warren Buffet is a mastermind entrepreneur and financial genius is an understatement at best. Unlike the two men above him on that enviable wealth list, Buffett made the majority of his money in the financial industry itself, not through other ventures. In essence, you could say he’s the richest man in the world who created his wealth through money itself.
What is his recipe for success, one may ask? Well, today, we would like to present you with a list we have compiled of the best Warren Buffet quotes on money. Browse through them for a little bit of inspiration and to better understand the thought processes of one of the greatest financial minds of our era. And if you’re interested in finding about Warren Buffet’s philosophy in life, we also suggest you read our coverage of The 20 Most Inspirational Warren Buffett Quotes on Business, Investing and Life.
This list though is all about showing you the money; specifically, the best Warren Buffett quotes on money anyone has had the great fortune to hear.
No. 5: We simply attempt to be fearful when others are greedy and to be greedy when others are fearful.
When it comes to money, it’s really hard not to display any emotions. This realm is dominated by greed, hope, and fear, which can often dictate how players will eventually act. But if you know how to steer these emotions and how to play your cards according to what others are doing, you have plenty of chances to strike gold. As Buffett puts it in one of his best quotes on money, take chances when others are not willing and stay put when you see them being greedy.
No. 4: You do things when the opportunities come along.
Even though it does not directly reference finances, this is one of the best Warren Buffet quotes on money you should be living by. There are times when you might feel the urge to do something: invest in something, purchase a particular thing, or simply take a step forward in your life. However, dry spells happen to anyone, so the only thing you should be focusing on is whether there is an opportunity for you to do something or not.
No. 3: It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
There’s nothing wrong with looking for bargains, but as Buffett himself puts it, that’s not the only thing that should beof interest. In one of the best Warren Buffet quotes on money, he teaches us that we should be looking primarily at the quality of the thing we buy, rather than on the quality of its price.
No. 2: Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.
Buffet pays more importance to the value of something, rather than its price, which is something we should all learn from. However, it does also help to know that virtually any quality product will be marked down, price-wise, at some point, which would make it a great time for you to step in and make your purchase.
No. 1: Rule No. 1: never lose money; rule no. 2: don’t forget rule no. 1
As harsh as it may sound, money does make the world go round; well, at least in most cases. While making money isn’t necessarily easy sometimes, the single most important thing is to know how to keep it once you’ve earned it.