Founded in by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Warren Buffett is generally considered to be the best long-term investor of all time, so it's no wonder many people like to listen closely to Buffett's words of wisdom, in order to apply them to their own lives.

With that in mind, here are seven of the best personal finance lessons I've learned from Warren Buffett over the years.

Warren Buffett’s Best Investing Tips to Live By — Of All Time | GOBankingRates

The lesson here is to be a forward thinker when it comes to personal finance, whether you're talking about investing, saving, or spending. When you're deciding whether to put some more money aside for emergencies, think of a financial emergency actually happening and how much easier your life will be if you have enough money set aside. Similarly, few people get rich quick by investing, and most people who try end up going broke. The most certain path to wealth and the one Buffett took is to build your portfolio one step at a time, and keep your focus on the long run.

Your goal should be to buy investments that you can hold for the long haul. In addition to this, one of my all-time favorite Warren Buffett quotes is "our favorite holding period is forever," which is also one of the most misunderstood things he says. The point isn't that Buffett only invests in stocks he's going to buy and forget about -- after all, Buffett's company Berkshire Hathaway NYSE: BRK-B sells stocks regularly, and for a variety of reasons.

Rather, what Buffett is saying is to invest in stable, established businesses that have durable competitive advantages. That is, approach your investments with the long term in mind, but keep an eye on them to make sure your original reasons for buying still apply.

When you're buying an investment or anything else for that matterthe price you pay and the value you receive are often two very different things. In other words, you should buy a stock if you believe its share price is less than the intrinsic value of the business -- not simply because you think the price is low. Similarly, if a stock rose rapidly, it wouldn't necessarily mean that the value of the underlying business had risen as well. Be sure you consider value and price separately when making investing decisions.

One of the reasons Berkshire Hathaway not only survives recessions and crashes, but tends to come out of them even better than it went in, is that Warren Buffett understands the value of keeping an "emergency fund. However, the same applies to your own financial health. If you have a decent stockpile of cash on the sidelines, you'll be much better equipped to deal with whatever financial challenges and opportunities life throws at you.

7 Personal Finance Tips From Warren Buffett -- The Motley Fool

If you know what you're doing, investing doesn't need to be stressful. In Buffett's mind, one of the best investments you can make is in yourself and the knowledge you have.

This is why Buffett spends hours of every day reading, and has done so for most of his life. The better educated you are on a topic, whether it's investing or anything else, survivor put option bond better equipped you'll be to make wise decisions and avoid unnecessary risks.

As Buffett's partner Charlie Munger has advised: Unless warren buffett stock investing tips have the time and desire to do hours of investment research, you're better off avoiding individual stocks. This may seem like strange advice coming from Warren Buffett, since he's widely regarded as the right choice for binary options asset of the best stock-pickers of all time.

To be clear, Buffett isn't against buying individual stocks if you have the time, knowledge, and desire to do it right. He's said that if you have six to eight hours per week to dedicate to investing, individual stocks can be a smart idea. If not, you should probably stick with low-cost index funds.

Warren Buffett is a co-founder of and participant in The Giving Pledge, which encourages billionaires to give their fortunes away. Buffett plans to give virtually all of his money to charity, and since he signed the pledge, he has given away billions of dollars' worth of his Berkshire shares to benefit various charitable organizations. Buffett once said, "If you're in the luckiest one percent of humanity, you owe it to the rest of humanity to think about the other 99 percent.

Matthew Frankel owns shares of, and The Motley Fool owns shares of and recommends, Berkshire Hathaway B shares. The Motley Fool has a disclosure policy. Matt brought his love of teaching and investing to the Fool in in order to help people invest better. Matt specializes in writing about the best opportunities in bank stocks, REITs, and personal finance, but loves any investment at the right price.

Follow me on Twitter to keep up with all of the best financial coverage! Skip to main content The Motley Fool Fool. Premium Advice Help Fool Answers Contact Us Login. Latest Stock Picks Stocks Premium Services. Stock Advisor Flagship service.

Rule Breakers High-growth stocks. Income Investor Dividend stocks. Hidden Gems Small-cap stocks.

Inside Value Undervalued stocks. Learn How to Invest.

Top 10 Investment Tips from Warren Buffett — the Most Successful Investor in the World - ValueWalk

Credit Cards Best Credit Cards of Best Credit Card Sign-Up Bonuses Best Balance-Transfer Credit Cards Best Travel Credit Cards Best Cash-Back Credit Cards Best No-Annual-Fee Credit Cards Best Small Business Credit Cards. Mortgages Compare Mortgage Rates Get Pre-Approved How Much House Can I Afford? Taxes How to Reduce Your Taxes Deductions Even Pros Overlook Audit-Proof Your Tax Return What Info Should I Keep?

Helping the World Invest — Better. How to Invest Learn How to Invest. Personal Finance Credit Cards Best Credit Cards of Best Credit Card Sign-Up Bonuses Best Balance-Transfer Credit Cards Best Travel Credit Cards Best Cash-Back Credit Cards Best No-Annual-Fee Credit Cards Best Small Business Credit Cards.

Mar 22, at 6: Berkshire Hathaway A shares NYSE: Berkshire Hathaway B shares NYSE: Prev 1 2 3 4 Next. Motley Fool push notifications are finally here Allow push notifications to help you stay on top of Breaking investing news Earnings coverage Market movers Special offers and more Subscribe to notifications You can unsubscribe at any time.