Say Yes to Financial Freedom : Learning from Warren Buffett on Tips of Money Making

Warren Buffett, being one of the richest man in the world, is a role model not only on Money Making, but also his generosity of giving back the wealth back to the Community.
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There are 8 Money Making Tips from Warren Buffett that is a good reference for your personal financial management :


1. Rich Is A State Of Mind

"I always knew I was going to be rich. I don't think I ever doubted it for a minute." - Warren Buffett

The difference between being poor and being rich is really just a state of mind. Poor people think thoughs of poverty and lack, rich people think thoughts of abundance and prosperity. Your beliefs are going to determine the way you perceive wealth, the decisions you make and the way you act towards it.


2. Success Is More Than About Your Bank Balance

When asked by CNBC what is the secret to success, Buffett replied "If people get to my age and they have the people love them that they want to have love them, they're successful. It doesn't make any difference if they've got a thousand dollars in the bank or a billion dollars in the bank... Success is really doing what you love and doing it well. It's as simple as that. I've never met anyone doing that who doesn't feel like a success. And I've met plenty of people who have not achieved that and whose lives are miserable."


3. Spend Less Than You Earn

"Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks." -Warren Buffett

It seems like common sense advice and you've no doubt heard financial experts preaching about it for years. You can't possibly get ahead financially if you're spending more than your paycheck. Buffett is famous for living a simple and frugal lifestyle. He is the only billionaire I know that still lives in the same house he bought back in 1958 for $31,500. He drove a 2001 Lincoln Town Car for years which he bought second hand. Buffett has a net worth in excess of $52 billion and yet lives off an annual salary of $100,000. The relative percentage of his spending based on his overall net worth is minuscule.


4. Avoid Consumer Debt

The sooner we realize that consumerism is a social plague that has been propagated by billion dollar marketing machines to keep you shackled to your job, the sooner we can stop spending money on useless stuff. It is a fool's game to spend today so that you can work tomorrow to pay it off. It is a losing proposition because one day your working days are going to be over but the debt is still going to be hanging over your head. Clever marketing has convinced our society that to be happy you have to have more, be more and do more. Buffett abhors consumer debt instead choosing to use debt wisely by leveraging it in investments.


5. You Are Who You Associate With

"It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction." -Warren Buffett

If you want to succeed financially you need to associate with people who are most conducive to encouraging and cheering on your financial journey. If the people you associate with see money as evil, object to capitalism and find wealth a foreign concept then your financial health and well being is going to be influenced by their views. Whether we like it or not we are all influenced to some extent by the people we spend our primary time with. If you aspire to achieve financial security then you need to find a mastermind of people in your life whom you can all encourage and help each other.


6. Gambling Is A Fools Game

"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." - Warren Buffett

While we are young and naive we choose to take risks with our money that are dumb and stupid. Trying to hit a home run with your money every time is a losing proposition with long term consequences. To chase investments that offer a high rate of return you must also assume that it also comes with a higher rate of risk. Bill Gates once quipped "Warren's and my betting has always been confined to $1 bets" when talking about them paying poker together. If two billionaires take risk management this seriously, it's time we average punters did the same thing.


7. Give Back To The Community

"Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars." - Warren Buffett

They say that to have more you need to give more. A contradiction in terms, maybe, but it's a simple truth that is as enduring as time. As the bible says "It is more blessed to give than to receive -Acts 20:35". Buffett has announced in 2006 that he was giving away over $30 billion to the Bill and Melinda Gates Foundation making it at the time of writing the largest charitable donation in history. He also contributes large sums to his children's charitable foundations.


8. Generosity and Abundance Goes Hand In Hand

"Even though Ben Graham [Buffett's mentor] had everything he needed in life, he still wanted to give something back by teaching, So just as we got it from somebody else, we don't want it to stop with us. We want to pass it along too." - Warren Buffett

A famous bible quote goes: "What benefit will it be to you if you gain the whole world but lose your own soul?" - Mark 8:36. The path to wealth isn't a solo endeavor. How sad would life be if you come to the end of your life and there is no one to share it with. So as you journey on your path to financial abundance remember that there will be many people who generously helped you on your journey so it is only fitting to pay it forward when the opportunity arises. Generosity with your time, with your money, with your resources are great virtues to have. The greatest ally to building a strong friendship is to help others achieve what they want from life.

I leave you with this last quote "You only have to do a very few things right in your life so long as you don't do too many things wrong." - Warren Buffett

Source: freearticles.co.za

Success Profile : Warren Buffett's Success and Quotes

ABOUT WARREN BUFFET's ......         


Warren Edward Buffett was born on August 30, 1930 to his father Howard, a stockbroker-turned-Congressman. The only boy, he was the second of three children, and displayed an amazing aptitude for both money and business at a very early age. Acquaintances recount his uncanny ability to calculate columns of numbers off the top of his head - a feat Warren still amazes business colleagues with today.

At only six years old, Buffett purchased 6-packs of Coca Cola from his grandfather's grocery store for twenty five cents and resold each of the bottles for a nickel, pocketing a five cent profit. While other children his age were playing hopscotch and jacks, Warren was making money. Five years later, Buffett took his step into the world of high finance. At eleven years old, he purchased three shares of Cities Service Preferred at $38 per share for both himself and his older sister, Doris. Shortly after buying the stock, it fell to just over $27 per share. A frightened but resilient Warren held his shares until they rebounded to $40. He promptly sold them - a mistake he would soon come to regret. Cities Service shot up to $200. The experience taught him one of the basic lessons of investing: patience is a virtue.

Warren Buffett's Education

In 1947, a seventeen year old Warren Buffett graduated from High School. It was never his intention to go to college; he had already made $5,000 delivering newspapers (this is equal to $42,610.81 in 2000). His father had other plans, and urged his son to attend the Wharton Business School at the University of Pennsylvania. Buffett stayed two years, complaining that he knew more than his professors. When Howard was defeated in the 1948 Congressional race, Warren returned home to Omaha and transferred to the University of Nebraska-Lincoln. Working full-time, he managed to graduate in only three years.

Warren Buffett approached graduate studies with the same resistance he displayed a few years earlier. He was finally persuaded to apply to Harvard Business School, which, in the worst admission decision in history, rejected him as "too young". Slighted, Warren applied to Columbia where famed investors Ben Graham and David Dodd taught - an experience that would forever change his life.

Warren Buffett Goes to Work for Ben Graham


The couple took a house in the suburbs of New York. Buffett spent his days analyzing S&P reports, searching for investment opportunities. It was during this time that the difference between the Graham and Buffett philosophies began to emerge. Warren became interested in how a company worked - what made it superior to competitors. Ben simply wanted numbers whereas Warren was predominately interested in a company's management as a major factor when deciding to invest, Graham looked only at the balance sheet and income statement; he could care less about corporate leadership. Between 1950 and 1956, Warren built his personal capital up to $140,000 from a mere $9,800. With this war chest, he set his sights back on Omaha and began planning his next move.

On May 1, 1956, Warren Buffett rounded up seven limited partners which included his Sister Doris and Aunt Alice, raising $105,000 in the process. He put in $100 himself, officially creating the Buffett Associates, Ltd. Before the end of the year, he was managing around $300,000 in capital. Small, to say the least, but he had much bigger plans for that pool of money. He purchased a house for $31,500, affectionately nicknamed "Buffett's Folly", and managed his partnerships originally from the bedroom, and later, a small office. By this time, his life had begun to take shape; he had three children, a beautiful wife, and a very successful business.

Over the course of the next five years, the Buffett partnerships racked up an impressive 251.0% profit, while the Dow was up only 74.3%. A somewhat-celebrity in his hometown, Warren never gave stock tips despite constant requests from friends and strangers alike. By 1962, the partnership had capital in excess of $7.2 million, of which a cool $1 million was Buffett's personal stake (he didn't charge a fee for the partnership - rather Warren was entitled to 1/4 of the profits above 4%). He also had more than 90 limited partners across the United States. In one decisive move, he melded the partnerships into a single entity called "Buffett Partnerships Ltd.", upped the minimum investment to $100,000, and opened an office in Kiewit Plaza on Farnam street.

Ben Graham - Buffett's Mentor
http://beginnersinvest.about.com/cs/warrenbuffett/a/aawarrenbio_5.htm



WARREN BUFFET's QUOTE                              


I NEVER ATTEMPT TO MAKE MONEY ON THE STOCK MARKET. I BUY ON THE            ASSUMPTION THAT THEY COULD CLOSE THE MARKET THE NEXT DAY AND NOT    REOPEN IT FOR FIVE YEARS.                                                                                                    


Translation: This is Warren Buffett at his best. Buffett is telling you to ignore trading, because trading is for gamblers. Buffett tries to imagine what the balance sheet of the company he is interested in, is going to look like in 10 years. If he can’t imagine it, he won’t invest. This is why he never touch Lehman Brothers as an investment. He could not understand the balance sheet, and if the master can’t read the balance sheet, he runs away from the investment. This is why he never ever buys a technology company as well. He can’t imagine what the balance sheet looks like years out. Buffett the investor would be leaving too much to chance. Buffett deals with probabilities he can understand.

Buffett has also publicly stated that an investor should never confuse short-term quotational losses with permanent erosion of capital. It is only in the stock market of publicly traded ideas that one can acquire a piece of a company for a price that one would never ever be able to negotiate in a private transaction.

source:
http://warren-buffett-words-of-wisdom.com/


WARREN BUFFET : MONEY PROVIDES FREEDOM

Did you know that a $10,000 investment in Berkshire Hathaway in 1965, the year Warren Buffett took control of it, would be worth over $40 million today? Berkshire Hathaway has sustained an average return of over 20% for the past 45 years. How does Buffett do it?




Buffett believes in value investing. Value investors look for securities that are unjustifiably low based on their intrinsic worth. Buffett holds stocks for decades, not for months. Here is the basic methodology used by value investors. For more detailed information, I highly recommend the book, The Intelligent Investor by Benjamin Graham.


1.Has the company performed well? Look at return on investment (ROE) for the last five to ten years. ROE = net income/shareholder’s equity.

2.Has the company avoided excess debt? Large debt can result in volatile earnings and interest expenses.

3.Are profit margins high? Are they increasing? A high profit margin indicates the company is executing its business well.

4.How long has the company been public? Buffett usually considers companies that have been around for at least 10 years.

5.Economic moat? Does the company have a sustainable competitive advantage by having a well known brand name, pricing power, or a large portion of market demand?

6.Is the stock undervalued? Is the stock selling for at least 25% less than its intrinsic value?

Value investors are concerned with fundamentals such as earnings growth, dividends, cash flow, etc and this requires research and hard work. Value investors buy and hold for the long term, often for decades. Unless you are willing to do the research and understand business fundamentals, value investing is probably not for you. Buffett recommends buying low-cost index funds instead. “A very low cost-index fund is going to beat a majority of professionally managed funds,” says Buffett.


http://moneyprovidesfreedom.wordpress.com/2011/04/13/invest-like-warren-buffett/

Sharp Healsio Water Oven Cooking Chicken Recipe : Baked Chicken with Sharp Healsio Oven

HEALSIO WATER OVEN


I have recently bought one unit of Sharp Healsio Oven.

What attracted me is the oven offers 4 modes of cooking :

1. Supersteam Convection

2. Steam

3. Convection

4. Microwaves



It provides healthy ways of cooking and food cooked with Healsio preserving the original taste as well as moisture.



Healthy Recipe : BAKED CHICKEN  with Sharp Healsio Water Oven

Baked Chicken cooked with Healsio Water Oven is extremely easy to cook, yet it is delicious while preserves moisture and flavour of the meat.

Ingredient :

1. Chicken – half a bird, about 0.5kg

2. Spicy Bake Mix, ½ packet



Healsio Chicken Recipe Cooking Steps :

1. Preheat Healsio Oven by selecting ; ;; 2. Clean the chicken, pat dry

3. Rub the chicken with Spicy Bake Mix, ,both the skin and the inside, marinate for at last 10 minutes, or till pre-heat is ready. 4. Wrap the chicken with Aluminium Foil, place it into the Pre-heated oven, press start.

5. The chicken will be ready to set about 50 minutes.

6. Ready to serve, enjoy the dish.

This Chicken Recipe may be cooked with Microwaves mode as well, but the texture will be a bit dry.

A Beautiful Poem : You are who You are by Russell Kelfer

Russell Kelfer Poem : You are who you are

I would like to share with you a beautiful poem that may inspire you to look inward and discover a new you..... It's not implicate you are lesser,  you may be happy with your current stage of life, however, you may yet to discover a stronger and a more beautiful you, that is all along YOU.......

You are who you are....by Russell Kelfer :

You are who you are for a reason.

You're part of an intricate plan.

You're a precious and perfect unique design,

Called God's special woman or man.



You look like you look for a reason.

Our God made no mistake.

He knit you together within the womb,

You're just what He wanted to make.



The parents you had were the ones he chose,

And no matter how you may feel,

They were custom-designed with God's plan in mind,

And they bear the Master's seal.



No, that trauma you faced was not easy.

And God wept that it hurt you so;

But it was allowed to shape your heart

So that into his likeness you'd grow.



You are who you are for a reason,

You've been formed by the Master's rod.

You are who you are, beloved,

Because there is a God!

by Russell Kelf

Janet Fish Recipe : Assam Curry Fish, Delicious Tamarind Spicy Fish

This is one of my favourite recipe as it is delicious and appetising.

As I start venture deeper into the health value of food, and it is very pleased to note great nutritional values of fish and cooked tomato that could contribute to health.

So besides try this recipe, I would like to invite you to discovery the health benefits of eating fish, cooked tomato, and lady finger at the end of this post. You are what you eat.

Ingredients for Assam Curry Fish ( Tamarind Spicy Fish Recipe)

1, Fish, 400 grams

2. Dried Chilli Paste

3. Shallot, 8 pieces

4. Lemon Glass, 2 stalks

5. Ginger Flower, 1 piece

6. Tamarind juice, ½ bowl

7. Lemon Leaves, 2 pieces

8. Prawn Paste (Balacaan), 2 sq. cm. or a thumb size

8. Lady Figures, 300 grams

9. Tomato, 3 pieces

10. Cooking Oil. 4 tablespoons

How to Cook Assam Curry Fish

1. Clean fish, pat dry, season with salt

2. Wash Lady Figure, cut both ends of each piece

3. Wash Tomato, cut each tomato into 4 pieces, and wash other ingredients to clean as well

4. Pound shallot, add chilli paste and prawn paste, mix them well to form Chilli Mixture

5. Heat cooking oil in cooking pan, add blended chilli paste mixture, lemon glass, lemon leaves and ginger flower, stir fry till the mixture giving rise to nice fragrance. Add sugar, stir fry till thoroughly.

6. Prepare Tamarind juice, add to the mixture, bring to boil

7. Add in Lady Figure and Tomato, bringing them to boil, then turn down the heat, boiling slowly till the vegetables are cooked

In fact, if you are a vegeterian, you may serve the assam vegeterian curry at this stage, by not adding fish to the recipe. 

8. Add fish, simmer for 10 minute.

9. The dish is ready to serve

Enjoy the dish and have Joy of Food.

* You are what you eat *

knowing the health benefits of eating fish, cooked tomatoes, and lady finger.

Health Benefits of Tomato

Tomato offers enormous health benefits, especially “cooked” tomatoes. Tomato is high in vitamins C, A and K. It also contains high levels of potassium and manganese. Tomato is also a good source of fiber, which helps keep the digestive tract healthy by increasing stool bulk and preventing constipation t

Beneficial components in the tomato is not limiting to its vitamins or minerals, but the phytochemical lycopene. This compound, which gives tomato its distinctive red color, acts as an antioxidant in the body. Consuming high levels of lycopene can lower cholesterol levels, reduce the risk of heart disease and certain types of cancer. Recent research has focused on specific phytochemicals such as lycopene, found that it is at higher levels in cooked tomatoes than in any other food. Also levels of beta-carotene, a compound that boosts eye health, are also higher in cooked tomato es than in raw ones.

Health Benefits of Lady Finger (also known as Okra)

Lady Finger is a highly alkaline food and it is a great storehouse of many vitamins such as Vitamin A, B6, B9, C, Fiber and Folic Acid, also it is a great source of minerals such as potassium, magnesium and calcium.

High content of Vitamin A and C of Lady Finger are powerful antioxidants which can effectively restrain the development of asthma symptoms. Also, Vitamin C can strengthen the structure of blood capillaries.

The high soluble and insoluble fiber found in Lady Finger stabilizes blood sugar, binds cholesterol and bile acid responsible for toxins elimination by liver. Insoluble fiber in Lady Finger works to absorb water and improves constipation for easy passage of waste hence keeps the intestinal track healthy.

Health Benefits of Eating Fish

Eating fish once or twice a week may reduce the risk of diseases ranging from childhood asthma to prostate cancer. Fish is an excellent source of omega-3 fatty acids. Fish is low in fat and high in protein.

An Australia’s leading health research body, the National Health and Medical Research Council (NHMRC), suggests that Australians should eat more fish. This is because fish is low in fat, high in protein and an excellent source of omega-3 fatty acids. Researchers worldwide have discovered that eating fish regularly – one or two serves weekly – may reduce the risk of diseases ranging from childhood asthma to prostate cancer. Healthy ways to enjoy fish include baked, poached, grilled and steamed.

(Source :http://www.betterhealth.vic.gov.au/bhcv2/bhcarticles.nsf/pages/Fish)

Health benefits of eating fish :

Regular consumption of fish can reduce the risk of various diseases and disorders. Selected research findings include:

• Asthma – children who eat fish may be less likely to develop asthma.

• Brain and eyes – fish rich in omega-3 fatty acids can contribute to the health of brain tissue and the retina (the back of the eye).

• Cardiovascular disease – eating fish every week reduces the risk of heart disease and stroke by reducing blood clots and inflammation, improving blood vessel elasticity, lowering blood pressure, lowering blood fats and boosting ‘good’ cholesterol.

• Dementia – elderly people who eat fish or seafood at least once a week may have a lower risk of developing dementia, including Alzheimer's disease.

• Depression – people who regularly eat fish have a lower incidence of depression (depression is linked to low levels of omega-3 fatty acids in the brain).

• Diabetes – fish may help people with diabetes manage their blood sugar levels.

• Eyesight – breastfed babies of mothers who eat fish have better eyesight, perhaps due to the omega-3 fatty acids transmitted in breast milk.

• Inflammatory conditions – regular fish consumption may relieve the symptoms of rheumatoid arthritis, psoriasis and autoimmune disease.

• Prematurity – eating fish during pregnancy may help reduce the risk of delivering a premature baby.

Raisin Cookies Recipe

Ingredients for Cookies :

1. Self- Raising Flour, 200g

Or Wheat Flour, 200g and 1 teaspoon of baking power

(tip: every 250g Plain Flour add 1 teaspoon of Baking Powder)

2. Corn flour 25g

3. Brown Sugar, 50g

4. Butter, 125g

5. Mixed Fruit or Rasin, 100g

6. 1 egg yolk

7. Vanilla Essence

B. How to make Raisin Cookies:

Step 1- prepare Mixture 1:

Blend Butter, Drown Sugar, Egg Yolk, and Vanilla Essence

Step 2- Prepare Mixture 2 :

Dry Ingredients

Plain Flour, sieve

Corn Flour, sieve

Add baking powder

Add Ra1sin

Step 3-Add Mixture B to Mixture A, portion by portion, lightly rub to blend.

Step 4-get the blended mixture into small dough, place on baking tray, use fork to press the dough to flatter and thinner shape.

Step 5- set oven to 180*, bake for approx. 10 min.

Ready to serve

The Cookies are crunchy and delicious

Janet Cooking Fun Chicken Recipe : How to cook Chicken Nuggets

I like Chicken Nuggets as it is boneless, an easy to eat convenient figure food.

Last week I found a Chicken Nugget Recipe from youtube which seems easy, so decided to try it this week-end. This is from my Kitchen, my family like them, it's a thumb up recipe ! This can be a good selection for home gathering, especially kid party.

Ingredients for Chicken Nuggets :

1. Chicken Breast, debone, 1 piece, about 300g

    season with chicken stock power, 1 teaspoon and dashes of pepper 

2. Plan Flour, add salt 1/2 teaspoon, chicken stock powder 1/2 teaspoon, and dashes of pepper

3. Egg 1 piece, beaten well

4. Potato Chips, break into small pieces

How to cook Chicken Nuggets

1.Cut the Chicken Breast into bitable sizes

2. Wash and clean the chicken, pat dry with kitchen paper tower 

3. The Chicken to apply Flour, then dip into Egg, then apply the Potato Chips mixture

4. Heat the cooking oil

5. cook Chicken Nuggets till colour turn brown, place on serving plate. Serve.

It is a extremely easy recipe, try it !

Its is Delicous, and suitable for both children and adult.

Happy Cooking, Have Fun.

from the kitchen of JanetWooi.
Kitchen, the place where the love is

2011, Aug 21