This One Low-Effort Money Move Could Change Your Finances in 2026<\/a><\/p>\n2. Buying New Cars<\/p>\n
Cars are depreciating assets. According to Kelley Blue Book, most new vehicles have a 20% drop in value in the first year.<\/p>\n
So instead of buying a new car, Buffett prefers to buy used vehicles at reduced prices.<\/p>\n
\u201cThe truth is I only drive about 3,500 miles a year, so I will buy a new car very infrequently,\u201d he said, according to Forbes.<\/p>\n
3. Paying Full Price<\/p>\n
Even Warren Buffett looks for good deals. Years ago, Buffett once treated Bill Gates to a meal at a fast food restaurant and used coupons to help pay for the meal.<\/p>\n
\u201cRemember the laugh we had when we traveled together to Hong Kong and decided to get lunch at McDonald\u2019s? You offered to pay, dug into your pocket, and pulled out \u2026 coupons!\u201d Gates wrote in his and now-ex-wife Melinda\u2019s 2017 annual letter.<\/p>\n
\u201cMelinda just found this photo of me and \u2018the big spender.\u2019 It reminded us how much you value a good deal,\u201d Gates wrote, using the anecdote to segue to a discussion about the value of philanthropy.<\/p>\n
4. Gambling<\/p>\n
At a 2007 Berkshire Hathaway shareholders meeting, Buffett called gambling \u201csocially revolting,\u201d according to The Motley Fool.<\/p>\n
\u201cI\u2019m not a prude about it, but to quite an extent, gambling is a tax on ignorance,\u201d he reportedly said, referring to the tax revenue generated by gambling.<\/p>\n
\u201cA government shouldn\u2019t make it easy for people to take their Social Security checks and [waste them pulling] a handle.\u201d<\/p>\n
If you have extra money, don\u2019t waste it on gambling.<\/p>\n
5. Living Beyond Your Means<\/p>\n
When you\u2019re shopping and see something you like, ask yourself whether you really need it or just want it.<\/p>\n
During a 2009 meeting at Emory University, Buffett said something to the effect that his goal is \u201cnot to make people envious.\u201d He also said you can\u2019t buy health or love and warned the audience not to confuse the cost of living with the standard of living, according to meeting notes from a student who attended, which appeared on the student\u2019s Underground Value blog.<\/p>\n
This article was provided by MoneyLion.com<\/a> for informational purposes only and should not be construed as financial, legal or tax advice.<\/p>\nMore From MoneyLion:<\/p>\n","protected":false},"excerpt":{"rendered":"Warren Buffett, the renowned investor known as “The Oracle of Omaha,” is a man whose advice is absolutely…\n","protected":false},"author":2,"featured_media":313777,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[146697,5873,72,1323,29882,176,61,60,174,175,2354],"class_list":{"0":"post-314334","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-american-express-card","9":"tag-bill-gates","10":"tag-business","11":"tag-credit-card","12":"tag-credit-card-debt","13":"tag-finance","14":"tag-ie","15":"tag-ireland","16":"tag-personal-finance","17":"tag-personalfinance","18":"tag-warren-buffett"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/314334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=314334"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/314334\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/313777"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=314334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=314334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=314334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}