There are tactics that you have to follow to become a rich man. Warren Buffett the Chairman and CEO of Hathaway talks about how to get rich. He gives advice to young people about looking at their financial future with simple basics, be intelligent, be energetic and has integrity.
The millionaire businessman and philanthropist has made his money from investing in stocks, bonds and buying companies and real state, but also selecting investments on a long-term basis and with honest management. He believes everyone can do the same if you develop good habits, but also being patient is the key for investors.
However, you need to make decisions ahead of time and believe in yourself. Warren Buffett recommends to reinvest your profits and be willing to be different. When you make a deal, you have to know in advance all the details. Always watch small expenses, and limit what you borrow.
Therefore, his financial advice is, you cannot make progress when you have debts with credit cards that charge you 18% or 20% of the interest. You will be in debt for the rest of your life and will never be able to pay the interest or the principal. For that reason, his advice is to stay out of trouble and limit what you borrow.