Warren Buffett is very famous for a reason. Warren has made himself shockingly rich as an investor. In the spring of 2008, Warren was ranked as the world's richest person, with a net worth of some US$62 billion. Warren could probably bail out a big U.S. bank for months. (In fact, that's exactly as much money as U.S. insurer AIG lost in the fourth quarter of 2008 - the largest quarterly loss in American corporate history.)

Warren Buffet's Advice for 2009:

"We begin this year with dampened enthusiasm and dented optimism. Our happiness is diluted and our peace is threatened by the financial illness that has infected our families, organizations and nations.

This year, I invite you to tap into the financial wisdom of our elders along with me and become financially wiser.

1. Hard Work: Hard work brings a profit, but mere talk leads only to poverty.

2. Laziness: A sleeping lobster is carried away by the water current.

3. Earnings: Never depend on a single source of income. (At least make your investments get you second earning).

4. Spending: If you buy things you don't need, you will soon sell things you need.

5. Savings: Don't save what is left after spending. Spend what is left after saving.

6. Borrowing: The borrower becomes the lender's slave. (Avoid borrowing if possible)

7. Accounting: It is no use carrying an umbrella, if your shoes are leaking.

8. Auditing: Beware of little expenses. A small leak can sink a large ship.

9. Risk-taking: Never test the depth of the river with both feet. Have an alternate plan ready.

10. Investment: Diversify, diversify and buy stocks in companies that make sense with a strong plan and good management.

I am certain that those who have already been practicing these principles remain financially healthy.

I am equally confident that those who resolve to start practicing these principles will quickly regain their financial health".