Ten Tips from Warren Buffett - he was a millionaire by the time he reached 32 in 1962. That’s not bad, but he had been working since he was a kid.

1. Be different.
If you think that making money is about doing exactly as everyone else is, then you have got it all wrong according to Buffett.

2. Be a planner.
Buffet calls it “thumb sucking” when you sit around and act like a kid that doesn’t know what to do. You need to get your information together and do some research. If you can’t stick to deadlines that you need to lay down, then there’s no money going to be there at the end of the line.

3. Be a negotiator.
Negotiate and have it signed, sealed and delivered before the work starts.

4. Be a re-investor.
Once that money has come your way, then you need to reinvest it. Thinking that the business that you have created or invested in will always be the way it is, is a rash and foolhardy decision.

5. Be a penny-pincher.
Waste your money on frivolous things and you will definitely waste your investment. You should only be investing in companies that try to cut costs as much as possible.

6. Be debt-free.
Well it is sound advice that even the federal government should adhere to. Cut the debt and get debt free otherwise it will just strangle your hold on your finances.

7. Be tenacious.
By hanging in there till the bitter end, regardless of what happens and what you have to do, you will come out a winner according to Buffet.

8. Be smart.
Buffett says he learnt that when he was a kid and he went to the races. He bet on a horse. It lost, so he bet on another one and lost his money again. The races and horses are like business. You can read up and do the research and you can invest in them, but there’s some bit of luck there that means you are or you aren’t going to make the dollars.

9. Be a risk-assessor.
If you want to go far then you need to be able to ask yourself two questions: what’s the worst scenario possible and what’s the best scenario possible?

10. Be a success.
Buffet says success is measured by the people that are around you and that love you, even when you have nothing.

Buffett was a millionaire by the time he reached 32 in 1962. That’s not bad, but he had been working since he was a kid, hadn’t he?