With the new year comes the chance to change things and start over. So, while you’re gearing up those New Year’s resolutions, we’ve compiled seven things that Warren Buffett has recommended for anyone looking to improve themselves and lead a happier, more successful life. Who knows; incorporating some of these tips and tricks from Warren Buffett might just make this year the best one yet!
1. Invest in yourself
You are your most important asset, and that means that you should invest in yourself first and foremost. How? Warren Buffett suggests reading as much as you can. In fact, he reads around 500 pages a day, and that knowledge will compound, helping you progress further in life. You can also do things like improving a skill or furthering your education.
2. Get rid of bad habits
Habits are an essential part of who you are, and they are mostly done without your knowledge. Buffett recommends getting rid of bad habits as soon as possible, as they can be hard to break. Take some time and look at the traits in the people that you admire, and the ones you don’t. Then look at yourself and think on how you could gain the habits you like and remove those you don’t.
3. Don’t risk things you need for things you don’t
Temptation is everywhere whether it’s a brand new computer, a better car, or anything else. And, while taking risks is not necessarily a bad thing, it’s important to weigh the costs before taking the leap. It’s never a good idea to risk necessities when it could be easily avoided with some patience or problem solving. “If you risk something that is important to you for something that is unimportant to you, it just doesn’t make sense,” Buffett said.
4. Do what you love
“You really should take a job that, if you were independently wealthy, that would be the job you would take,” Buffett said in a commencement speech. Life is too short to spend time doing things that you hate—both at work and at home. Take some time and think about how you are spending a majority of your day. Are there things you love that you just don’t have time for? Do you find yourself wishing that you were doing something different? Then maybe it’s time to make some changes.
5. Surround yourself with people you admire
“Pick out associates whose behavior is better than yours and you’ll drift in that direction,” Buffett said. It might not seem like it, but people conform to those around them. This means that you’ll pick up habits of those people you spend the most time with—for better or worse—so you might as well surround yourself with people whose traits you admire.
6. Start thinking of time as a commodity
There are only so many hours in a day, so isn’t it time you made the most of it? Sit down and write out what you spend all your time on in a given day, and you may be surprised how much if your time you’re wasting. Instead, treat time like an asset or a precious commodity, to be given only to the most important things.
7. Learn your strengths and weaknesses
It’s important to know your own boundaries. Everyone has something that they are really good at, and something that they just can’t do well. Find ways to play to your strength instead of fighting them. After all, “You don’t have to be an expert on everything, but knowing where the perimeter of that circle of what you know and what you don’t know, and staying inside of it, is all important,” Buffett said.