Warren Buffett says this is the ‘biggest mistake’ people make with their money (and psst: it has to do with savings)

MarketWatch Picks has highlighted these products and services because we think readers will find them useful; MarketWatch News employees are not involved in the creation of this content. Warren Buffett, the infamous 91-year-old Oracle of Omaha, is worth roughly $100 billion -- and clearly could be spending recklessly. The guideline is that you need about 3-12 months of essential expenses in a safe place like a high-yield savings account.

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