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Three Things You Should Do To Be Financially Stable Before You Turn Thirty

With bills increasing and with cultural influences making living alone a lot harder, more and more people are living with their parents and this is mostly because rent is getting higher by the minute. While being able to live alone before 30 was the norm for the previous generation, this is getting really harder to do now. Fortunately, some people have been there and have gotten through it. Here are some advice from some of the most reliable people.

Look Ahead with Your Financial Plans

If you are in need of some help, one person you might want to consider running into would be no other than Microsoft co-founder, philanthropist and consistently the world’s richest man Bill Gates. He has worked with countless billionaires and has been traveling the world to urge other wealthy people to give money for charitable purposes.

When asked about the importance of international aid and philanthropy and when jokingly asked by host Trevor Noah about how he could get other rich people to give him money, the multi-billionaire responded that they are actually giving to charity. He clarified that all of these donations go to his charity and not to fund his personal lifestyle.

Gates revealed that the real secret from fundraising from billionaires is to put money into perspective. “When you have that degree of success, you’re not really talking about personal deprivation” adds Gates. Billionaires think decades in advance and while the rest of the world worries about what to have for breakfast tomorrow, they think about how their fortunes will be passed down to their heirs.

Setting money aside for savings is a key element for financial stability

A Decent Person will Succeed in Business, as Well

Warren Buffet has been known as “The Oracle” as he might have the highest financial IQ that mankind has ever witnessed. Aside from being the second richest man in the world, Buffet is also consulted by fellow billionaires and large business owners with regards to finance. While he might be the go-to guy for large-scale business owners, Buffet actually enjoys talking to young people the most. When asked by a young fellow about what business and money advice he has to give, Buffet responded with advice about life itself.

While everyone expected to hear about what the man has to say about savings, finances and spending, the entire class was instead focused on how to become a good person and that by becoming a good person, you will be successful in business as well.

“You have to pinpoint exactly what you want to do above anything else” – Mark Zuckerberg

Buffet’s father instilled in him a principle of having an inner scorecard rather than an outer one. While other people are too conscious about what other people think about them, the inner scorecard would make you ask if you are doing the right things or if you are treating people correctly.

Start with the Problem You’re Trying to Solve

When Facebook mogul Mark Zuckerberg was asked for advice for aspiring entrepreneurs during Facebook’s IPO back in 2012, he revealed that you should not set out to build a company. Instead, he said that you should start off with the problem that you are trying to solve in the world. He adds that even the best companies in the world are things that try to drive some change in society, even if such is just in one locality.

“You have to pinpoint exactly what you want to do above anything else,” says the world’s youngest self-made billionaire. He also adds that most people would often decide what they want to start a company before knowing what they want to do, and such is a very backward approach.

He also advises that you should not just identify any problem in the world which you want to solve. Instead, pick something that you are truly passionate about. You will go through some really hard things along the way while you try to go ahead and build a company and you will be able to get through all of it if you believe in what you do.

Just thinking about the cost of rent and paying off a student loan might make it look impossible for you to live by yourself before you turn 30. However, just like anything else, this financial goal can be achieved with passion, perseverance and sheer hard work. What do you think of these tips? Do you have other tips to share? Share them with us in the comments below.

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