{"id":784125,"date":"2026-05-09T11:24:22","date_gmt":"2026-05-09T11:24:22","guid":{"rendered":"https:\/\/www.europesays.com\/us\/784125\/"},"modified":"2026-05-09T11:24:22","modified_gmt":"2026-05-09T11:24:22","slug":"warren-buffetts-14-best-lessons-on-how-to-live-simply-and-build-wealth","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/784125\/","title":{"rendered":"Warren Buffett’s 14 Best Lessons on How to Live Simply and Build Wealth"},"content":{"rendered":"

Despite his exorbitant wealth, Berkshire Hathaway CEO Warren Buffett has some surprisingly simple advice on how to grow your wealth<\/a>.<\/p>\n

According to Forbes, the 95-year-old investor and philanthropist has a net worth of around $141 billion. Buffett’s financial advice is surprisingly practical, and he often provides guidance that works for everyone.<\/p>\n

Here are 14 brilliant things Buffett can teach you about money.<\/p>\n

Will you be able to retire comfortably?<\/strong><\/a> Take this quiz and find out.<\/a><\/p>\n

1. Stay in the same home<\/p>\n

Many would assume one of the\u00a0smart money moves\u00a0billionaires of Buffett’s caliber would be something like eating up prime real estate to build wealth \u2014 perhaps buying a few homes in the priciest areas around the world.<\/p>\n

However, Buffett sees the benefit of living modestly. In fact, he’s spent more than 60 years living in the Nebraska home he bought for just over $31,000 in 1958.<\/p>\n

The billionaire apparently sees no reason to upgrade when the five-bedroom home meets all his needs. This is a practical attitude to adopt for people looking to build wealth.<\/p>\n

Who really has the cheapest auto insurance in your area?<\/strong><\/a> Check your zip code here.<\/a><\/p>\n

2. Opt for cheap food you enjoy<\/p>\n

It’s not all lobster and caviar for this billionaire. In the past, Buffett has claimed that he eats “like a 6-year-old.”<\/p>\n

That may include a packet of Oreos for breakfast or a pit stop at McDonald’s when he’s feeling famished. Buffett’s philosophy tends to revolve around not splurging where it’s not needed.<\/p>\n

Figuring out how not to splurge on your food can be a surefire way to lower some financial stress<\/a> from your life.<\/p>\n

3. A recession is a great time to invest<\/p>\n

For those looking to make some quality investments, a recession doesn’t have to be a financial disaster.<\/p>\n

In fact, in a 2008 opinion piece for the New York Times, Buffett wrote that “bad news is an investor’s best friend. It lets you buy a slice of America’s future at a marked-down price.”<\/p>\n

Buffett also stressed the importance of patience, noting that buying during a recession can help investors avoid high prices if they are willing to hold off on their purchases and wait for the market to turn.<\/p>\n

Seniors born between 1941-1969 can receive these 10 benefits.<\/a><\/p>\n

4. Keep your car as long as possible<\/p>\n

Buffett is not the type of billionaire to show up with an extravagant new car every month \u2014 or ever.<\/p>\n

In fact, he told Forbes in 2014 that he drives so infrequently that he looks for bargains when buying cars and then keeps them for as long as possible.<\/p>\n

In a BBC documentary, Buffett’s daughter Susie even said her father will keep cars for so long that she eventually has to tell him his wheels are “embarrassing” and it’s time to upgrade.<\/p>\n

5. Wait to buy a home<\/p>\n

Buying a piece of property is obviously a good investment for anyone who is expecting to stay in the same area for a significant amount of time.<\/p>\n

However, Buffett advises against purchasing a home before you’re ready to avoid being “cleaned out.”<\/p>\n

During a 1998 Berkshire Hathaway shareholders meeting, Buffett told a story about how he decided to hold off on buying his first home himself until the down payment was about 10% of his net worth.<\/p>\n

6. Avoid credit card debt<\/p>\n

Buffett has gone on record many times advising anyone looking to grow their wealth to get out of credit card debt<\/a> first.<\/p>\n

Many Americans carry credit card debt and don’t often think about how much monthly interest payments add up, but\u00a0paying down debt\u00a0is an important step.<\/p>\n

Retire like the rich:<\/strong><\/a> 14 ways you could build wealth in your 50s<\/a><\/p>\n

7. Don’t go designer<\/p>\n

Why splurge on designer goods and clothing when you could go for quality instead? Buffet prefers to look for well-made goods that he can get a lot of use from.<\/p>\n

For example, when it comes to his suits, Buffett prefers to buy from the Chinese creator behind Dalian Dayang Trands: a woman named Madam Li, who impressed him with her entrepreneurial spirit and excellent suits.<\/p>\n

8. Clip coupons<\/p>\n

No matter how far you go in the business world, there’s value in jumping at a good deal. Despite Buffett’s massive wealth, he’s been known to pull coupons out of his pocket.<\/p>\n

Longtime friend and Microsoft co-founder Bill Gates wrote about a particular experience in 2017 when the pair pulled up to a McDonald’s, and Buffett offered to pay with some coupons he had stashed away for the meal.<\/p>\n

9. If it ain’t broke, don’t fix it<\/p>\n

One of the running themes you’ll notice if you read up on Buffett’s financial advice is to avoid unnecessary upgrades.<\/p>\n

He’s lived in the same house since the 1950s, rarely buys new cars, and has remained in the same Omaha, Nebraska, office building since he started working at Berkshire Hathaway in the 1960s.<\/p>\n

Grow Your $$:<\/strong><\/a> 9 things you must try when your savings reach $50,000<\/a><\/p>\n

10. Be resourceful to avoid unnecessary spending<\/p>\n

Anecdotes about Buffett’s past suggest that he sees a real value in learning to be thrifty \u2014 sometimes in the extreme sense.<\/p>\n

In Roger Lowenstein’s 1995 biography of the billionaire, “Buffett: The Making of an American Capitalist,” he recounts that Buffett used a dresser drawer as a bassinet for his first child and borrowed a crib for his second one.<\/p>\n

These are just two examples of the famously frugal businessman pinching pennies anywhere he could.<\/p>\n

11. Smart money habits can be learned<\/p>\n

In a 2007 speech at the University of Florida, Buffett discussed the importance of good habits \u2014 especially good financial habits.<\/p>\n

Those looking to meet money goals, like saving a certain amount or devoting a percentage of income to investments, should examine their finances closely and see if any habits can be changed.<\/p>\n

Money-saving habits don’t need to be complex, either. For example, you could get in the habit of picking up takeout meals instead of ordering delivery. Every little bit helps.<\/p>\n

12. Invest in yourself<\/p>\n

Buffett also advises those looking to build wealth to invest in themselves whenever possible.<\/p>\n

Anything you can do to make yourself more valuable \u2014 whether that is earning another degree, getting a certification, learning a new skill, or even taking care of your health \u2014 can (and likely will) pay off down the line.<\/p>\n

Money Goals:<\/strong><\/a> Make these 7 savvy moves when you have $1,000 in the bank<\/a><\/p>\n

13. Avoid temptation to invest everything<\/p>\n

Buffett advises against putting everything you have into investments.<\/p>\n

In one letter to Berkshire Hathaway shareholders, the billionaire noted that the company always holds at least $30 billion in cash and cash equivalents.<\/p>\n

Why? Because they always want to have the cash they need on hand so the company, their creditors, insurance claimants, and shareholders can all “sleep soundly.”<\/p>\n

14. Make long-term money goals<\/p>\n

Buffett stresses long-term goals when it comes to both investing and building wealth.<\/p>\n

The billionaire once famously wrote, “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes,” in a 1996 letter to shareholders.<\/p>\n

Financial challenges are normal and should be expected. Buffett strongly advises against jumping ship on an investment the second trouble nears and instead, thinking about financial goals as lifelong commitments.<\/p>\n

Bottom line<\/p>\n

Buffett is famous for making wise investment choices, which have earned him a coveted spot on the list of the wealthiest people on earth.<\/p>\n

However, his\u00a0signs of financial success<\/a>\u00a0\u2014 most of which revolve around finding creative ways to save\u00a0\u2014 can be adopted by anyone looking to build wealth.<\/p>\n

The biggest takeaways from Buffett’s financial philosophy are probably just to avoid spending when it’s not absolutely necessary and stay devoted to investments for the long haul.<\/p>\n

More from FinanceBuzz:<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Despite his exorbitant wealth, Berkshire Hathaway CEO Warren Buffett has some surprisingly simple advice on how to grow…\n","protected":false},"author":3,"featured_media":784126,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[21028,244,64,14998,255,67,132,68,4327],"class_list":{"0":"post-784125","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-berkshire-hathaway","9":"tag-billionaires","10":"tag-business","11":"tag-financial-advice","12":"tag-personal-finance","13":"tag-united-states","14":"tag-unitedstates","15":"tag-us","16":"tag-warren-buffett"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116544370553221278","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/784125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=784125"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/784125\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/784126"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=784125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=784125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=784125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}