{"id":181,"date":"2024-01-26T09:27:05","date_gmt":"2024-01-26T07:27:05","guid":{"rendered":"https:\/\/kevinmurray.co.za\/?p=181"},"modified":"2024-02-22T09:29:05","modified_gmt":"2024-02-22T07:29:05","slug":"26-january-2024","status":"publish","type":"post","link":"https:\/\/kevinmurray.co.za\/?p=181","title":{"rendered":"26 January 2024"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">A couple of weeks ago I wrote about the modest houses that Warren Buffett and his business partner Charlie Munger, had lived in for most of their lives. (Just in case there is a reader who is not sure, these men have been highly successful investors for decades and are two of the wealthiest men in the world)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Today I have some snippets of advice that I found from their comments, regarding good saving and spending habits for us simple men in the street.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Avoid debt for depreciating assets (That\u2019s basically everything except a house)<\/li>\n\n\n\n<li>Be careful of buying too many things you don\u2019t need<\/li>\n\n\n\n<li>Avoid costly habits, like dining out and designer clothes<\/li>\n\n\n\n<li>Do not save what is left after spending; spend what is left after saving<\/li>\n\n\n\n<li>Live below your means<\/li>\n\n\n\n<li>Maintain a frugal mindset<\/li>\n\n\n\n<li>\u201cSomeone is sitting in the shade today, because someone planted a tree long ago.\u201d (Ignoring the power of compounding. i.e. Time for your investments)<\/li>\n\n\n\n<li>Invest in assets that generate income<\/li>\n\n\n\n<li>Track your expenses: know where your money goes<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">I think they are saying: Save first, then live a simple lifestyle on what you have left.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Food for thought.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A couple of weeks ago I wrote about the modest houses that Warren Buffett and his business partner Charlie Munger, had lived in for most of their lives. (Just in case there is a reader who is not sure, these men have been highly successful investors for decades and are two of the wealthiest men &#8230; <a title=\"26 January 2024\" class=\"read-more\" href=\"https:\/\/kevinmurray.co.za\/?p=181\" aria-label=\"Read more about 26 January 2024\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-181","post","type-post","status-publish","format-standard","hentry","category-weekly-thoughts"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/kevinmurray.co.za\/index.php?rest_route=\/wp\/v2\/posts\/181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kevinmurray.co.za\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kevinmurray.co.za\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kevinmurray.co.za\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kevinmurray.co.za\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=181"}],"version-history":[{"count":1,"href":"https:\/\/kevinmurray.co.za\/index.php?rest_route=\/wp\/v2\/posts\/181\/revisions"}],"predecessor-version":[{"id":182,"href":"https:\/\/kevinmurray.co.za\/index.php?rest_route=\/wp\/v2\/posts\/181\/revisions\/182"}],"wp:attachment":[{"href":"https:\/\/kevinmurray.co.za\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kevinmurray.co.za\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kevinmurray.co.za\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}