Most of these are Money 101 class rules. However, we always need a review for the test of life…

Warren Buffett is a hugely successful investor, and his tips for investing are surprisingly accessible. Most of his methods are simple, straightforward and timeless. Here’s some of Buffett’s best money advice.

Buffett warns against excessive borrowing. Credit card debt or unnecessary loans can quickly get you into lots of financial trouble. I’ve seen more people fail because of liquor and leverage—leverage being borrowed money. You really don’t need leverage in this world much. If you’re smart, you’re going to make a lot of money without borrowing.