Would you like to earn 27% every 20 days?
This is the average amount that Nic Chahine bought in options. Don't sell covered calls or spreads…buy options. Most traders don't even have a 27% buy option win rate. His win rate is 83%. Here's how he does it.
Warren Buffett's Frugal lifestyles are all the rage, and for good reason. The Oracle of Omaha was cautious both in his investments and later in life. berkshire hathaway.
From the good old days mcdonalds From burgers to cherry colas, Buffett, who still lives in the first home he bought in his hometown of Omaha, Nebraska, 66 years ago, has lived a fairly modest life for one of the world's 10 richest people. There is.
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Buffett's philosophy is also quite simple. From eating cheap breakfasts to living in the same house to not buying fancy toys or cars, the frugal lifestyle habits of the legendary investor are easy to incorporate into your daily life.
SEE ALSO: Ramit Sethi, author of 'I'll Teach You to Get Rich,' Became a Self-made Billionaire — Now He Shares a Simple Formula to Increase Your Wealth
Warren Buffett's 5 practical habits that will save you money
1. live in the same house
Buffett still lives in the Omaha home he bought in 1958 for $31,500. The 66-year-old, 6,570-square-foot home has five bedrooms and is protected by a fence and security cameras.
Other than regular maintenance and some renovations, Buffett has not done any major construction work or remodeled the palatial bungalow. He also has no plans to move.
In a 2010 letter to Berkshire Hathaway shareholders, Buffett called it “the third best investment I've ever made.”
2. Stick to the basics
Although Buffett can afford to hire some of the best culinary staff and chefs in the world to create sumptuous meals every day, he likes to stick to the basics.
Buy on this blue line for a profitable trade
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In a 2017 documentary on HBO, Become Warren Buffett, he said he doesn't like spending more than $3.17 on breakfast. Prices have since risen, but Buffett explained that his daily routine includes eating a sausage patty and a Coke, or, if he's feeling “rich,” a bacon, egg and cheese biscuit.
3. Ultimate luxury
The advice to “do what you love” is commonplace, but Buffett says it's the “ultimate luxury.”
In an interview with CNBC, he said, “Success is doing what you really love and doing it well.”
“It's that simple. Being able to do what I want every day is the ultimate luxury.”
4. Don't use credit cards
Buffett doesn't believe in using credit cards. He thinks cash is better, even though it may seem a little outdated in an era where contactless and card payments are the norm.
According to Buffett, paying interest on credit card debt is like throwing away money. Instead, he recommends buying only what you can afford.
5. Wants and needs
Finally, it's important to distinguish between wants and needs. Even though he can afford the best gadgets, in 2020 he used a $20 flip phone, and eventually he upgraded to an iPhone.
They also don't splurge on material things like cars or yachts. “Rather than spend and save what's left, save and spend what's left,” he once said.
Photo credit: Shutterstock
Would you like to earn 27% every 20 days?
This is the average amount that Nic Chahine bought in options. Don't sell covered calls or spreads…buy options. Most traders don't even have a 27% buy option win rate. His win rate is 83%. Here's how he does it.
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