Warren Buffett’s one rule for middle class earners revealed | US | News

American investor Warren Buffett says, “paying yourself first.” Build Financial Stability throughout your life.

Recommendation greatly middle classWho says Buffett should put Savings and Investments first of all. Known for his financial lessons for the middle class, the philanthropist encourages living a simple lifestyle so your wealth spreads throughout every phase of your life.

The phrase “paying yourself first” implies a personal investment in one’s future.

“Don’t save what’s left after spending, spend what’s left after saving,” one of Berkshire Hathaway – a holding company he chairs – said at its annual meetings.

Mastering the habit, he said, will provide a foundation for financial freedom.

Another piece of advice from Buffett: Avoid collecting consumer debt.

Sometimes it’s hard to avoid getting into debt with so many credit card companies. That’s why the philanthropist says he always tries to pay cash, warning that unnecessary borrowing can be detrimental to one’s financial health.

There’s more to personal investing than just saving money. Developing skills, acquiring knowledge, and generally growing as a person will lead to the greatest return of all time, because no one else can take that away, Buffett said.