Do not save what is left after spending; instead spend what is left after saving – Warren Buffett

Another one of Warren Buffett’s gem citations. The oracle of Omaha, is known for his frugality. I do totally agree that saving is very important, especially if you were not born with a gold spoon in your mouth.

Do not save what is left after spending; instead spend what is left after saving

– Warren Buffett

Rather than spending money first, and then saving whatever is leftover. Warren suggests that people should save a portion of their income first and then spend the remainder.

By making saving a priority, individuals are more likely to build up a savings cushion that can be used to invest in their future, handle unexpected expenses, or work towards long-term financial goals. This approach encourages individuals to be mindful of their spending habits and to make intentional choices about how they allocate their income.

Like all Warren’s quotes, this quote is a gem. The only issue i have with saving is inflation. In times where inflation is increasing fast, (like for example since 2020 till today), if you look medium or long term, the savings will lose their value to inflation.

Another quote you would love:

If you buy things you do not need soon you will have to sell things you need – Warren Buffett